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Different types of record label deals for artists

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Signing with established record labels does not mean success automatically. Whenever you are signing a music contract, you should read thoroughly through the agreement. In case you do not understand the terms of the deal, ensure you ask questions. If possible, get a lawyer to read and explain the contract to you.
There are situations where an artist is suddenly unhappy with the deal that they accepted. Such cases may lead to a fall out between the label and the artist. Some labels can drop an artist for not being as successful as expected. When signing a deal, always ensure that you sign one that is suitable for you. The following are some of the music deals you can sign.

Record/Artist Deal

A record/artist deal is usually the first deal that you can get as an artist. It is considered the most popular contract. Inartist performing in concertsuch an agreement, the label will handle everything for you from recording new materials, promotion and distribution. In some cases, the label can provide accommodation, transportation and wardrobe allowance.
Depending on the agreement, you can have full ownership of your songs and maintain the full creative control. You need to be clear on this with the label. You can expect a twenty percent revenue share from music performances and sales. This is because you will be paying back the label for expenses they procure investing in you.

Distribution Deal

With such a deal, you have an opportunity to generate more revenue. This type of arrangement is typically limited to established artists and those with the potential of creating money. With this kind of contract, the label/distribution company will make twenty percent from music sales. Unlike the record deal, the company is only responsible for the distribution of your songs online or in stores and collecting money.

Joint Venture Deals

artist recording musicWhen an artist is affiliated with a given record label, it is likely that they are in a venture deal. In a venture deal, the artist and the label split the work. The label, however, serves as the financial investor providing funds for your studio time. Just like the work is divided, so is the revenue. In most situations, the split is equal.
It is essential to read the terms of the contract and sort out who will own the masters of your recordings. Additionally, if the label gives an advance, you should address how much you will give back to them when the money starts coming.
These are some of the main types of contracts in the music industry. Before signing a contract, it is essential to go through the details to determine if the deal will work for you.

Entertainment

Mr Eazi proposes to Temi Otedola!

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For what seemed like a long while, celebrity power couple—Mr Eazi and Temi Otedola—are finally engaged as Oluwatosin Ajibade better known as Mr Eazi pops the heartwarming “Will you be my wife?” question to his girlfriend of 2 years Temiloluwa Otedola and she responded favourably in the affirmative “Yes” tone.

Fashion mogul and Icon Temi Otedola began dating artiste and music label CEO Mr Eazi in the year 2020 and have been living together ever since in their London apartment, sharing intimate moments, even meeting respective family members. This they’ve both shared in detail on their How Far? With Mr Eazi And Temi Otedola podcast.

Temi announced her engagement by posting the sea-side proposal of Mr Eazi on one knee asking the important question. The video goes by the simple caption of the infinity logo connoting they’re both locked in for life.

Congratulations to Temi Otedola and Mr Eazi!

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Nicki Minaj agrees “Essence” should be song of the year at the Grammys

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American superstar rapper, Nicki Minaj, shares the same sentiments as myriads of Wizkid fans and well-wishers worldwide, in that she concurs to the argument the trendsetting crossover record-breaking single from Wizkid’s 2020 released “Made In Lagos” album, Essence should be in the conversation for the coveted “Record of the Year” plaque at this year’s Grammy Awards.

Although “Essence” did not receive the much desired nomination in the category for “Record of the Year” at the 2022 Grammy Awards, it did get a nod for Best Global Music Performance, the first of its kind.

Irrespective of the snub, Nicki whilie on Joe Budden TV (YouTube) as a guest on the special episode tagged A Conversation With Nicki Minaj & Joe Budden agreed with the host (Joe Budden) when he said “We need people on the Grammy board that know that “Essence” was song of the year” with an exclamatory “Right! Right!” response. She even proffered, “We should have our own Grammy Board“, in support of many and the popular believe that Black Americans or black artistes in general are always stereotyped to a particular category at the award show, if indeed they made it to the top categories, they barely win; Nicki Minaj does not have a Grammy Award herself and that is still a shock to many, especially when considering her refined catalogue of music.

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Pheelz & Buju (BNXN) live the carefree lifestyle on “Finesse”

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After much teasing, the anticipated Finesse by Pheelz and Buju (now BNXN) hit DSPs across the globe and just like the teaser gave off, Finesse is a banger! It is produced by young producer under Pheelz’s wing known as Miichkel.

On Finesse, Pheelz and Buju live their life to the fullest, the carefree lifestyle is what they desire and they are determined to stay on that track for the time being. “I’ve been living the fast life but I see it in slow mo / And you see my lifestyle, I got Gs in the turbo / . . . / Bad girl sey she want Netflix & Chill / So I ja ticket give her warning / If you fall in love, girls it’s certain / You go chop breakfast, I’m not capping“, Pheelz explains on the first verse, even saying love and relationship cannot stop him from living the ‘ballers’ lifestyle; “I’d be dammed if there’s anybody that could be like me / I be like Mo’ Salah, coming up the right wing / I cut through your defender, you no need to tell me / I must finesse / And you know sey me I must net“, Buju braggingly adds on the second verse, saying he can score any chick that catches his eye and dish her the next minute.

listen to the popular joyous chorus “Ah finesse / If I broke na my business / Ama shana e go bright o / Folake for the nighr ohere or on Apple Music.:

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