Part 3: Why Your Favorite Musicians Are Broke

[@ACMCUK]

My music lawyer saved me thousands . He looked at the contract I had been presented with and laughed. He renegotiated it so I was not tied to a 5 album deal, and got all my royalties. Get a lawyer totally separate from the label.

[@shawnabid9327]

Bro you have a contract ??

[@ACMCUK]

@@shawnabid9327 nah I left it and went independent

[@10INCHCRUSHER]

Spot on. These new artist are getting boned. Before they would take thier record money, now they got thier claws in the merch, endorsements and your name.

[@pedrogomezrodriguez4121]

And your name is ?

[@ACMCUK]

@@pedrogomezrodriguez4121 AC

[@akhilnagapuri2932]

Never stop making this series, Spencer

[@randomclips888]

I know right I’m waiting for part 99 lol

[@verticalintegration5222]

So he’s going to be 75 still uploading this same shit 😂 and you’ll be here watching 45 years from now

[@randomclips888]

@@verticalintegration5222 he can get it done quicker 😂 i think its smart cuz it does not happen often and with online growing each day, these companies wont be needed.

[@akhilnagapuri2932]

@@randomclips888 facts lmao

[@sagenosnibor9173]

I agree, I'm hooked!

[@morgangoldmusic]

As an artist, you have to understand that you are a product for the label. One thing I was told by a label CEO was that you need to get your leverage and sales up as an independent before you sign any kind of deal. Labels will see artists with leverage, and want to do “business” with them. If they see an inexperienced artist with no leverage that they can make into a superstar overnight, the more likely you are to get screwed.

[@Live-Life-Freely]

This is why I stay independent, I'm not an artist or anything but that's beside the point.

[@thesorrow4664]

😆

[@channel24spacex]

😂

[@mcfrisko834]

That's actually legit tho. Because these principles apply to life in general.

[@connorblazerod9678]

Now can we do a series on why I’m broke?

[@DarkSmile-kn4fs]

Make part 2 about me.

[@Sardonic_]

@@DarkSmile-kn4fs Let me get part 3

[@jifffy999]

That's easy. You don't have any hustle. Like Rick Ross said, "If you ain't getting money that means you done something wrong."

[@coastercraziness]

@@Sardonic_ and I’ll take part 4

[@laylah150]

@@jifffy999 I got money but now police is after me

[@ghostwriter991]

Also do the movie TV industry

[@laurenwood4271]

ghost writer They're unionized, so people aren't taken advantage of financially like they are in music. The modeling industry is really financially exploitative though. The agency pays for everything in the beginning, and then the model owes it back. Most modeling jobs don't pay much, and they're sometimes paid in clothes instead of money. The models are usually around 14 when they're signed, and often don't speak English, so they're easier to manipulate.

[@SchardtCinematic]

I heard that on weekly TV sitcoms the secondary actors or background actors don't make much of anything. Once they pay there agents and lawyers and taxes they dont make much more than the average person at a factory job making parts or something. So maybe 20 bucks an hour tops. Sometimes less.

[@BLAKDANGER]

@@SchardtCinematic I worked as a background actor, it's true. After fees and taxes the money is not that great, but the job is very easy and you're offered food and drinks. Plus you meet some very cool people

[@mcfrisko834]

@@BLAKDANGER I agree. That's what I definitely notice in the film industry. "Social capital" is actually very much a legitimate type of currency and these industries let you access impossible scenarios where you can network with incredible people.

[@BLAKDANGER]

@@mcfrisko834 yeah exactly, I've been up lose with famous Hollywood actors that I would have never met otherwise

[@calvincaballes2430]

I watched part 1 to 3, then subscribed. I'm 18 and want to be a self sufficient artist. I have friends who aspire to be artists in different platforms not just in music. Tech, Marketing, etc. I'm getting all the knowledge and wisdom from this channel to help not just me, but people who might experience this in the future. Don't. Stop. Making. Videos.

[@Jamezwashington_]

I'm going to Law school to study sports and entertainment Law! Maybe I can represent you some day and get you a wonderful deal! Keep grinding brother

[@mimib___6709]

It may just be me, but wouldn't you have suspicions if the label recommended a lawyer to you to look over the contract they want you to sign. Its just sad how easy it is to be duped.

[@kenonerboy]

It wouldn't be phrased in a way were you'd think of that.

[@Howitchewstofeel5gum]

If you're young, somewhat naive, never had to deal with a lawyer yourself, and no one in your peer group can recommend you one (especially not one specializing in music industry contracts), going with the label's recommendation might seem like the sensible thing to do.

[@CJ-tc7xh]

@@Howitchewstofeel5gum I wouldn’t, some people just easy to fool.

[@Howitchewstofeel5gum]

@@CJ-tc7xh Good for you

[@yesnegro4023]

Even some of the best lawyers have no intent on helping you. John Branca was the lawyer who helped Michael Jackson's estate pay off certain debts and helped him with his situation, yet signed Korn to a 360 deal with EMI. He helped get the Beatles records, but had Shakira in a 360 deal with Live Nation.

[@cartmann94]

You can research about the sales certification used by the record labels (gold and platinum), and how the labels screw and deny sales certification to avoid paying money to artists.

[@Ziggyhere57]

I see why ice cube was angry breaking shit

[@neonglowmusic]

I love this series. Btw, Donald Passman is the author of "All You Need to Know About the Music Business." It's currently on it's 10th edition, and full of great information.

[@RedStl]

The. Bible. Of. The. Music. Business.

[@crown00music]

As an Artist , only reason of doing 9 to 5 job is just to be An independent Musician.

[@RiaLuna1]

Same here

[@sadboipotato3382]

Just like any other business, it takes time to grow but eventually you will get there.

[@crosswiz6]

We need part 4,5,6,7,8,9,10 till infinity!

[@ItsBrokenPen]

i actually released 2 projects via a record label which i never signed a contract for. the result? payment for a guest feature, opening up for rakim, doing a song with roc marciano and then having my LP taken down without my permission and my former manager/record label guy making a diss song about me (which i have yet to listen to because ASMR rap isnt my cup of tea) gotta love the music industry.

[@SammysmSoulGlow]

One artist who understood the game way back in the 50s and 60s was the late great Sam Cooke. He owned his masters and had control over his art. Unfortunately he hired a manager who promised him more money and better gigs. He delivered, at a price. He forged Sam's name on a document that gave him control of the music. When Cooke found out and planned to sue, he wound up dead in a cheap motel under very mysterious circumstances.

[@SolarHeavy]

Some pretty valid points here, and more reasons why I deny labels and stay independent.

[@MM-tt3np]

Rules #1 Give your contract to your lawyer, but change the labels name to XYZ. Never tell your music industry lawyer which label you are about to sign up with. They are like an double agent and screw you over if they get a chance ;)

[@crnkmnky]

😲🤔

[@miamitten1123]

I swear that’s fraud

[@mfburk2010]

I have a niece in Nashville. She is a musician. She writes her own songs, performs in clubs and is raising money to release an album. I hope she is watching your videos on this subject.

[@heinrichsmit7045]

I think something really valuable would be a video on how artists could do press without a label

[@GrowWithWill]

The relationship with the labels and the attorneys is also similar to the real estate space. Experienced investors typically recommend not using the team that your real estate agent recommends and to have your own team.

[@Tim85-y2q]

That's good advice in any field. If you're engaged in anything that requires legal oversight, even on a small level, you should always have a relationship with your own lawyer, even if you're not in a position to actually retain their services on a full time basis.

[@christieomojo]

It's not a lawyers job to tell you if a deal is good or bad, or whether you could get a better deal. Its their job to explain legal terms and clauses. They are paid based on fees for work done so it's in their interest for you to sign any contract.Getting a good contract is all about leverage, new artists dont have any hence getting screwed 😪

[@louismarinrenaud416]

Thank you for this. One thing that should be pointed out though is that a lot of the times when an artist records an album with a band, the whole band participates in the arrangement of the song, which has a trememdous influence on the success of the song, IMO. 99,9% of the times the musicians that helped shape that song aren’t going to have any songwriting credits, or any revenue for their participation.

[@portofly94]

As an artist/ producer, this may be one of the most valuable things I’ve ever watched on youtube.

[@amiriboykin]

Honestly, this video was too short.

[@ct-tw2ge]

Nah its good if it was longer i probably wouldn't watch it

[@PhaseVi]

There is soooooooo much more to consider. I talk about it as well but this video was solid

[@lloydknows2045]

I remember watching a Lupe Fiasco IG live and he made a good point that there’s “Artists in great contracts in bad situations and Artists in bad contracts in good situations” 🤔

[@randomclips888]

Because if the label dont make most of the money then whats the point to them? They wont push u or promote u. The more u give the bigger u will get

[@lloydknows2045]

@@randomclips888 I agree with that part but I feel like it’s more to it. In term of if the artist actually makes good music and know how to promote their product alongside the record company. I made a video talking about how rappers can learn from Latin artists on the basis of business. Because the labels are still willing to work with artists under different terms. I’m interest in your thoughts. It’s more complex imo.

[@badboyb2gmusic252]

kzbin.info/www/bejne/a2fVaHecpt-hfJo Featuring: badboyb2g

[@Tim85-y2q]

Because there are a myriad of other factors that play into it. Any contract, no matter how unfavorable, can work out if someone is successful enough, it's just that most people never get anywhere close to that point and if they do, even fewer stay there for a long term basis.

[@channel24spacex]

I encourage everyone to watch the previous videos. Trevor Daniel (one of the biggest artists on TIk Tok) even commented on one of them (I forget which) giving some REALLY helpful advice to up and coming artists!

[@bhaveshtochabbra6853]

Trevor Daniel is 🐐

[@bhaveshtochabbra6853]

@gid part 1

[@channel24spacex]

@@bhaveshtochabbra6853 🤝

[@kathiec1333]

Read some of the books that artists have written, many lessons can be learned by their experiences with the record companies. Tommy James went through it all with his label.

[@MISAKIBeats]

In this capitalist world its important to get to know a lawyer, look up your old high-school or college buddies one of them may be a lawyer, or check your extended family, simply have their number, that's 50% of the work. Regular lawyers already know the industry standard and will judge the contract according to that but someone who knows you will also look at it with a moral lens.

[@yesnegro4023]

Beyond getting a lawyer, these artists should read up more on the legalities and financial aspects of the music industry. Using Michael Jackson as an example, his father made sure he couldn't contact others to get help until later on in life, due to an abusive and exploitative relationship. Joseph Jackson represented Michael until he could get John Branca around the time of Thriller (he's also the guy who persuaded Michael to put out the Thriller video), so artists should read up more and trust very few souls. EDIT: The same John Branca allowed for clients to get stuck in 360 deals, so again, you really can't trust many.

[@MISAKIBeats]

@@yesnegro4023 💯 Musicians need to realise they are not just making art but business, and as such should... no, MUST treat their careers as a business, as a luxury brand.

[@phac3_]

As an upcoming artist I've noticed that the industry is very small and friend look to help friends. Be wary of who recommends who to you.

[@bornlost706]

Our entertainment lawyer wanted $1500 to look over the contract. That’s a lot of money for a new band.

[@DeniseTheCakeVlogger]

Love the series- would like you to do a break down of TLC's contract- we know they sold how many millions of copies of CrazySexyCool, yet were broke

[@SafffOneee]

and BSB

[@zlistcelebrityYT]

That’s already been done a million times.

[@moonraker30]

Left Eye did the math back in the day

[@TheNumbasign2]

If you know business, you own a business. When you don’t understand business. You won’t own a business or see yourself as a business. And if you don’t own a business. No matter how much money you have. You have no money. So if you know business. Even If your paid 1 dollar. You’ll know how to turn it into more dollars. And are less likely to be whining about the label and it’s business.

[@anthonypeters44]

Tlc made like 2 cents per cd sold

[@mikshida1399]

I’m working on my own independent record label and your content is great help.

[@RealSergiob466]

Great

[@youraverageblackboy5402]

kzbin.info/www/bejne/eonFfKOYm7SLfLM

[@miamitten1123]

Record label!? So you want to learn how to ‘scam’ potential acts lol 😂

[@mikshida1399]

@@miamitten1123 I work independently with my partner Zheani. Search her here on KZbin. I don't understand why you are accusing me of being a scammer?

[@chihuahuaman7025]

I’m a music nerd and I was really impressed with your work. Great job! Highly enjoyable series.

[@Starphot]

Spencer, I just came into your series, thumbs up! As a kid in the 1960's listening to the top-40 stations, I was taught that to keep the artists working for you and on a schedule, you keep them lean. In these cases, owing.

[@JMusaATM]

It’s great to see you growing like crazy lately. You are such a genuine person. Keep it up big bro! 👍😄💯

[@thompsonappliance3078]

In this day and age there is no excuse for artist coming up on the short end of the stick.

[@kicapanmanis1060]

If they were stupid and signed bad contracts, that's on them.

[@grandsome1]

@@kicapanmanis1060 Do you read the various Terms of Service you sign with big tech? If not you're as stupid as them and the rest of us.

[@miamitten1123]

@Anne Day it’s not though. If in the app contract it says _”if we are hacked and your bank account is accessed, we’re not liable”_ and then you agree to the terms then you would be screwed. Also, cleaning your teeth may seem simple but if you were to have an allergic reaction to the chemical and lose your tongue but signed away full liability, then you are screwed. You have a to black/white view of life. There’s a lot of grey.

[@miamitten1123]

@@kicapanmanis1060 you’re thinking with your mind after watching this video. Would you be so confident as a teenager (like most new artist are).

[@inah4923]

All artists sign bad contracts

[@HiKONiCONiCO]

I think JoJo's legal case would be a very interesting conversation about child stars and legality of kids signing contracts into music. Its quite sad to see JoJo being held hostage for years before finally being relieved of her contract but having to re-record her record because her original masters are kept by the label that originally signed her.

[@thegodblogger3812]

Bottom line: a fresh new unsigned artist will not walk into a sweetheart deal, no matter what attorney is used on the artist's behalf. If the artist makes too many demands up front, the label will simply walk away and go find talent that isn't asking. 97% of successful artists who eventually get decent or good deals have to muscle through the mud and muck before they attain the leverage to get better deals. Independent artists won't have "the machine" behind them to get with the best producers, promoters, hype men, and industry heavyweights. It's just the nature of the beast. Artists will make big sacrifices to get into position to make certain demands. In the vast majority of the cases it is unavoidable.

[@notvenom1152]

"I thought they WERE my lawyers..." - Andrew Garfield as Eduardo Saverin in The Social Network movie.

[@DeepValueOptions]

The music industry wants your soul but they’ll pay you pennies!

[@ahriik]

This is an incredible series. Keep it up! I mentioned this before on another one of your videos, but I highly recommend reaching out to members of the band Periphery and talking to them about how they negotiated deals with their record label (they are now fully independent, but had distribution through Sumerian Records for several years before). They have excellent advice to give about navigating the music industry these days.

[@silentrob668]

I have friends who signed 'deals' back in the 80s who basically sold off their music and output to the record label as part of the advance. 30 years on the labels are still selling their music but the artist sees nothing, but an occasional royalty cheque that is worth less than the admin of sending a cheque. Bands were restricted from producing work for anyone else. So it was basically a restraint of trade for the bands. My favourite ones are the people in the 2000s who won talent search shows by winning a prize that was a record deal. And hey presto that deal was recoupable and here they are pushing 40 still owing their record company money from their 'prize' . Its basically a really glamourous Ponzi scheme.

[@deanandthebeans857]

Very interesting indeed, thank you! I assume you've read Frederick Dannen's book, Hit Men? It sheds a lot of light on the crooked deals going down in the music business.

[@AikiraBeats]

I'm really curious to see how someone would go about looking for a lawyer

[@djbhe]

Do a search for entertainment lawyer.

[@ACMCUK]

If ur signing to a major, Look for the lawyer who acted against your label in court b4 and won

[@elagrion]

1-555-call-saul. That is of course in the case they have banned you from google.

[@ChrisTondreau]

Talk to other artists and find out who they recommend. There are a few who seem to represent a whole roster of artists - like Sanderson/Taylor in Canada, and their reputation is beyond refute.

[@greggilmore8497]

An idepemdant record compamy tried to get me to sign a contract without lyrics even being on my music yet...Its all about controle and keeping your music for the record companys to continue making money for them but not the artist.

[@oldman4353]

What you need is an independent manager that can deal with the record company. (e.g. Rod Smallwood - Iron Maiden or Q Prime - Metallica & Def Leppard)

[@techbiz7287]

Bro I love the way how you're tackling the music industry this is a topic that don't really get talk a lot on KZbin or any other platform. it feel like a breath of fresh air when a Disney channel talk about something more industry based like music or entertainment and make it interesting to their audience. I wish more business channel was like you but then again I wouldn't because I do like your content.

[@ELISHACAEZ]

Spencer you are helping me, a 19 year old up and coming artist, Understand the nuisances of the music industry. Because of your videos I know exactly what to look for and also have been inspired to create my own label that offers amazing opportunities to artists and deals that are actually the most fair anyone can ask for (not giving away my plans because they aren’t established yet). Thank you so much for these videos. Today I didn’t learn anything new from your video but that is only because I went and did my own research and found out these things from watching alot of other videos and reading even more. Keep up this work it’s not only entertaining but it’s legitimately helping me and most likely many others in the subject.

[@DymaxionDon]

Not wanting to defend the recording industry but a lot of these artists are simply a product of the recording industry.

[@TheNumbasign2]

That’s the whole thing in a nut shell. With out the label. They don’t exist. Rs.

[@SP-uq2hy]

Yeah, that's true. If the label is using you, you have to make sure you can use them too, like if your gonna sign with a big label, you will most likely get your albums promoted by some of the other big artists on your label.

[@IRmetal9456]

That is 100% fact. Because if you don't sign there are a 100 people in line to take your place.

[@NeoKingArthur]

Lesson learned is: If you want to be a successful music artist. Don't skip school, and study the skills needed to be able to write, produce, and perform your own music and self-management.

[@InvestwithHenry]

Commenting for the youtube algo. Keep it up bro!

[@sseltrek1a2b]

love to hear your thoughts on BMI and ASCAP...my frustrations with them is how they're hurting local music (forcing mom and pop venues to have licenses for any cover music that gets played, etc...)...

[@TheSpunR4D]

Thanks!

[@madimakes]

Soon as you mentioned breakage fees my first thought is “guaranteed most modern contracts still have these”. What incentive would a label have for removing them? We’ve already established that these labels don’t exist for the benefit of the artist.

[@AniHajderaj]

Yes please make more videos on the music business, there are mountains of dirt to dig through.

[@andrewbuhman1066]

Great content as always. This label greed goes all the way back to the beginning of rock and roll. Everyone knows who Buddy Holly is, but the poor guy never made much money because his manager and label bilked him out of most of it.

[@ChrisPTY507]

I will ask it again: IS THERE SOMETHING THAT IS NOT A SCAM IN 2020?

[@tcaudiobooks737]

Planting things, going for a walk. Not much else.

[@6lackalanwatts916]

Not gone lie, you honestly just opened my eyes even more about reality with that question. Salute to you 💯

[@ChrisPTY507]

@@6lackalanwatts916 This reality seems to be so fake tbh, and it’s kinda depressing. Everyone seem to prefer to exploit others only for personal benefit. No wonder humanity is so slow at developing itself...

[@skyjack8541]

Not Islam or Christianity religions. I'm a christian and I haven't been scammed out of my money I worked for. I pay tithes and offerings. My pastor lives a very lavish life.

[@itsgoubie]

puppies and kittens

[@sirtorndr]

I would love to see a report on a group like Dave Matthews Band who, from what I understand, toured all the time at first, allowed fans to record their concerts (plugging directly into the soundboard) and encouraged them to make copies to give to friends, turned down record company contracts, produced their own first album, and became one of the biggest money-making juggernauts in music every year for more than 25 years. Plus, Dave started and owns the distributing company for all of their merchandise. It seems to me like they did things the right way, relying on their immense talent and hard work as well as unusual business savvy to be able to still draw huge crowds to their concerts even after close to 3 decades. They are also the only group to have 8 consecutive albums debut at number one on the billboard charts, all with very little radio airplay throughout. Is my impression accurate? How did they become so huge without much radio and doing just about everything the opposite of what one would expect? Could others benefit from their strategy?

[@SFLogicNinja]

Your videos are now required watching for any artist that I produce. I have contributed to beautiful albums that have been mired in the sludge of the music industry. I’m am so grateful for your concise explanations of how the music industry works. I honestly wish artists could ditch labels altogether, get a following via social media, and make their money on Bandcamp. That is a dream of mine. With some licensing thrown in for good measure.

[@lokiblue5125]

This is the same with publishing. I have sold over a million books as an independent author, mainly in the last 2 years. I write under Charlotte Byrd and indie publishing is thriving thanks to Kindle and Facebook / Amazon ads that you can run yourself to find readers. Traditional publishing deals are total crap. You get like 10-15% royalties vs 70% through Amazon and other ebook retailers and hardly anyone gets advances or they will be like $5k. Definitely go indie but learn about marketing and advertising

[@stonecoldsigma]

I would like to see a series on sports contracts.

[@deanbassan]

Great series! Super helpful, thank you!

[@jamesinbradford5882]

When Paul and John signed their publishing deal , in the room was John,Paul,Brian Epstein, Dick James (Publisher) and another guy. When John and Paul was unhappy about the deal years later Dick James said why didn’t you to talk the lawyer, what lawyer they asked ? The other guy unknown to them was their lawyer !

[@OwolabbyAzeez]

This a friendly reminder to drink water more than juice or other alcoholic beverages. Proper hydration is important 🤧💯💰. Did y’all know it’s impossible to breathe while smiling? Kidding just wanted y’all to smile. If you’re reading this bruv (or bruvette), understand that you are amazing bro, have a blessed day and don’t let nobody ruin your day bro. Stack and act broke. Get ya bread and all the crumbs too. 💰🙏🏾💯

[@Ray-bx8sn]

Cool positive post, stack and act broke is the way to go, never let'em see what you working with

[@youraverageblackboy5402]

kzbin.info/www/bejne/eonFfKOYm7SLfLM

[@JMusaATM]

Lmao felt for the smile joke! Keep spreading positivity g you’re going places! 💯

[@angrycat3525]

Get YOUR OWN lawyer, period. Fortunately, I was a paralegal at a firm that specialized in contract law, which helps me to this day in understanding the fine print that sends most people running. When I recorded one album, the label asked what I thought about a three-album deal. I said, let's go with this one and go from there. When that album came out and I discovered that the "distributor" kept the copies locked up in a vault while bitching about how no one was buying them, this turned out to be one of the wisest decisions I ever made. AND I kept 100% of the publishing -- not that anyone in their right mind would do a cover of anything I write, but you never know! (True story.)

[@GrowWithWill]

Love this series of deep dives.

[@yesnegro4023]

This is the one channel I will always allow ads to run on. Great content that always speaks volumes. It's interesting how many snakes revolve around one artist or group, let alone the thousands that exist.

[@triadwarfare]

8:00 one potential for justification of breakage fees for digital is due to fraudulent transactions. When transactions are found to be fraudulent, the bank issue a chargeback fee against the platform for each transaction. There was an indie game developer that was so frustrated with these chargebacks, he'd rather have them pirate the game instead.

[@IRmetal9456]

In this day and time it is a million times easier to research deals and stuff online. Back in the 80's a lot of that information was not as easy to get. Old rule of thumb applies if it seems to good to be true it most likely is. Thing to remember is the label is not going to give you one thing for free. They just want to make as much money on you possible and when that money drops so do you.

[@maja2509]

I've been reading Donald Passman's All You Need to Know About the Music Business to learn more about the topic, and he mentions that aside from the breakage fees, there's also another clause about the physical copies like CDs that the label can send promotional CDs to retailers for free that they can then sell for a profit, and anything they don't sell, the retailer can return to the label for free - and all the expenses (shipping to the retailers, making the CDs (that are going to be free), and returning the ones that didn't sell) are covered by the artist's royalties. And he also mentions many times when a label offers a 360 deal to an artist, they also tell the artist they have to sign it, otherwise, they'll never get another deal in the industry itself because they have connections and the artist doesn't.

[@maja2509]

@Mojito It's fascinating and I haven't even finished it yet

[@destinyreturns4885]

Really impressive presentation. I find it more interesting that as a real estate person you stepped outside your "comfort zone" to research and take on this topic. Great job.

[@vitusndelu6630]

Your videos are very insightful and as someone who aspires to be an artist himself thank you for this ground breaking series. Appreciate you and your content Spencer.

[@ikealamp53]

I love this series and i can barely play a guitar, let alone, sign with a label. It's just very interesting stuff.

[@OgamiItto70]

You can't play guitar? Can you sing? No? Play any instruments? No? Have _any_ talent? No? Have long hair? Yes? Lots of tattoos? Yes? Why, you're *_THE IDEAL CANDIDATE!!!_* ;--)

[@Kat.Evangeline14]

This may be irrelevant but years ago and I was working for Tower Records we're talking 40 years ago the record people would actually come over and bribe the person ordering singles to lie and say a certain single was a number one seller when it wasn't they would give them $100 for this and that's why you see horrible songs in the top 10 ➡people were being bribed to say they are in the top 10

[@macioluko9484]

@5:25 The big difference between the two situations is that when you get hired, the expectations, benefits and remuneration are clearly sated. So when you sign any deal where you're trading your intellectual property for money... you MUST negotiate.

[@CrimeConversations]

I hope artists come together and change this ‘business model’ 🙏

[@RyzeHendricksTV]

Love the content

[@AlphaTuber]

Michael Jackson's long term deal with SONY eventually resulted in the failure of his last two albums, Blood on the dance floor and Invincible. Sony did not even promote Invincible because MJ would not renew his contract.

[@benfranklin2392]

a perk of having a dad who's a lawyer

[@mellowords]

I'd love to hear this guy's take on the Musician's Union. They offer legal services like the ones mentioned in this video for members, but their members are super low now. Probably for good reason.

[@BluegillGreg]

I did have a meeting with the musicians’ union Local in Seattle back In the day. They were mainly focused on getting decent hourly wages (Union scale) for musicians that worked in non-royalty situations (TV, etc).

[@BluegillGreg]

They also helped self-managed musicians who collaborated on local events (weddings, parties, etc) set rates high enough and share revenue among themselves fairly enough to have sustained profits.

[@general_electrics]

There's so much info available on this topic that it shouldn't be a problem. The problem is so old that both MJ and Prince spent much of their careers fighting it to the bitter end.

[@tonyguerra1273]

I'm a freelance writer/author these days, and so I know a little about how royalties on sales work and on promotion and such. I'll say that the music industry is called the "music BUSINESS" for a reason, and boy do the artists really, really need to learn about the business side of things, because if they don't they're going to get taken almost every time. Unfortunately, too many artists -- most of whom have never had any real bank (i.e. money in the bank account) and who have been slaving away, trying to get their music out, for a pittance -- see a record deal and worry that the label will pull the deal if they don't sign right away and that they'll never get another shot at the (so-called) golden ring. That's the point where someone who's looking out for them should be doing the Admiral Akbar, from Star Wars, thing and shouting IT'S A TRAP!

[@rosemay4526]

Please do a series like this about the film industry. Thanks!

[@reputablehype]

These videos need to be sent to all E-Sports players because I can guarantee that will be the next industry that is milked this way. Many lawyers and agencies will come in trying to "legitimise" the industry from scammers but they're just hiding the shadiness 3 layers deep.

[@timflatus]

There is such a thing as an unfair contract. Consent requires an awareness of the consequences. We have a thing known as Duty of Care (Law of Torts) in the UK, but it's not always easy to argue in the courts. There are stories of record companies pressuring artists to sign a contract just before boarding a plane or whatever, deliberately so they don't have time to read the small print legalese or consult a lawyer. Even though these are despicable tactics it can take many years to untangle the mess and usually only serves to line more lawyers' pockets.

[@TerryXWang]

That 1 dislike is from a record label for damn sure 😂 EDIT: record label *intern probably 😂

[@RiaLuna1]

Haha yeahhh

[@MB-nb7yq]

🤣🤣🤣

[@SantiagoAngaritaFilms]

Record label (one of the big 3) intern here Hahaha But i didn't disliked it.

[@TerryXWang]

@@SantiagoAngaritaFilms 🤭🤭🤭

[@Ajlatango]

This series made me hit the subscribe button. So eye opening

[@SmarchitectMann]

I was ecstatic when my best friend was putting together a record label. But when I overlooked the contract, he seriously tried to give me 10%. We negotiated over a week to numbers like 35, and even close to 40. But, in the long run, my talent is priceless.

[@1.5Koreans0.5American]

Spencer: turning his valuable time into valuable content 🔥

[@imraanakollo-arenz1449]

Would be interesting to see if there are any difference between the major labels and indie labels

[@thiswillhurtt873]

Impressed by the research of this video...

[@bevolkisch4628]

Having a lawyer look at is only going to do one thing and that is cause the lawyer to get paid to look at the contract and maybe explain it to you. Your lawyer cannot renegotiate the contract. If you already agreed to the contract orally then the actual paper contract is just memorializing the oral contract which you already agreed to. The negotiation of the contract occurs between the parties only. A proper manager with experience negotiating contracts could help you negotiate a better deal. But no, all a lawyer usually does is draft a document that memorializes the actual agreed to contract, and it is actually unlawful for the drafting attorney to change the terms or draft them more favorable to one party or the other. A lawyer can explain to you the legal ramifications and obligations that you have under an agreement but he cannot change the terms of the agreement. If no contract was formed and you have not already agreed to the contract, then that "contract" is just an offer, and if the offer remains open then you could take the offer to a lawyer and he could explain your obligations under the offer if you choose to accept it but lawyers do not ordinarily negotiate contracts at all period.

[@tonyunderwoodmusic1607]

Great series! I recommend all people, while in high shool (or age) take a class, community class, online, free KZbin tutorial in contracts in general. Sit down with a friend who knows the law (paralegal, retired attorney, etc) and go over sample contracts line by line and write out “plain talk” to the side or in a notebook. Get sample music deals and work out the numbers. And always have all numbers spelled out. Or if the contract says expenses are deducted or recouped, have a limit or a number in the expense. Also limit the number of people working on the piece, no extra writers or producers and have a total limit in all of these. If the company is unwilling to do this , walk away and build your fan base thru social media and others until the music labels see your value and meet your terms.

[@BluegillGreg]

Definitely take your High School’s “You And The Law” course and finish all its work. If you didn’t finish HS take your Community College’s course.

[@BxChef.207]

Ras Kass has a great song about this topic called "The Business Of Music".

[@MisterDosja]

Need to touch on Teena Marie, she was signed to Motown and went to court due to her contract. She was able to pass the Brockert Initiative, which made it illegal for a label to stop you from making music while signed. I honestly can't find anything about it nowadays funny enough.

[@PMMagro]

Only make deals you understand. You can be 100% absolutly sure the company offering you a deal understands it. If you do not how can you even know how good/bad/resonable it is?

[@BluegillGreg]

Around 1990 in Seattle, contracts could be structured so that whatever you overspent in one contract area was recouped from future revenue, and whatever you didn’t spend went into your own pocket once you’d fulfilled your end. People already had their own skills and networks, and got the work done quickly and cheaply. Many kept living inexpensively. Do you know of John Oszajca? He played around Seattle in the early 90s, had a big solo signing with Interscope around 99 and they dropped one album in 2000 but failed to promote it. I believe he kept much of his unspent advance and was able to proceed with his career once IS dropped the ball. He developed an eBook business, then started one of those coaching businesses you critique, recommending musicians stay independent and market online directly to fans. Passman’s book is great. Another great book is Dan Charnas’s “The Big Payback: The History of the Business of Hip-Hop [New American Library, 2010]. One more, for Rock and Americana: Fred Goodman’s “The Mansion On The Hill: Dylan, Young, Springsteen, and the Head-On Collision of Rock and Commerce” [Vintage Books, 1997 & 1998]. I hope young people will read the history so they can improve it. “Thank you for your service!”

[@datemonthyear]

really interesting series, thanks, Spencer.

[@makemoneynow5061]

This video is worth watching! More of this, please!

[@cafe.cedarbeard]

Great rundown. More details on scams I've been aware of for many years. Hey, how about some vids on all the online coaches who claim they have secrets you need to make it in the new music business? The algorithm knows I'm a musician so I see these ads ceaselessly. They can't all be truthful. There's not enough room in the business for every graduate of some internet school. Are any of them truthful? Is it simply true that musicians need day jobs to fund the habit?

[@petersmith8790]

This is such a well written and researched series. You make excellent content. Extremely informative and fascinating! Really appreciate your work

[@Nkanyiso_K]

0:00 *Come on Spencer* My *_Favourite Athletes_* are going Broke waiting for part 2!

[@Nkanyiso_K]

😅 you're doing great otherwise, been enjoying the content

[@youraverageblackboy5402]

kzbin.info/www/bejne/eonFfKOYm7SLfLM