During his rant, Kanye declared that he would move the entire music industry into the 21st century, and he means to do this using clear and discernable language. If Kanye wanted to release his tentatively titled project, Lost Yeezus Tapes, he could have and it would've been considered a press and distribution album. Somethings got a hold your drink place. Artists like Kanye feel that they are being cheated. Portals. Mike Whelan [00:01:20] Pretty classy nightstand, Ross. And thats, you know, damaging conclusion from many perspectives. The breakdown for this amount was:$1.5 million was to be distributed to record the album. It would also give Adele the largest record deal for a British musician by surpassing . Ross Guberman [00:05:55] Yeah, I mean, its obviously a common plea, not just from Kanye West, but from all sorts of, you know, business executives to theres been sort of push and pull over the decades that people have been complaining about contract language for longer than either of us has been alive, of course. Come join me. Equity & Blanket Licenses are the majority of future new income. Im going to give people a little bit of background on the Twitter rant about contracts. Welcome to Law Insiders Contract Teardown Show, where we bring smart friends like Ross Guberman over here to break down some contracts. Is this realistic to even talk about plain language and contract drafting? Kanye West Tweets About His '10' Recording Contracts: 'I Need Every Lawyer in the World to Look at These' In his latest string of tweets about his recording deals Wednesday (Sept. 16),. So youre seeing some attempt by LinkedIn. The record label / publisher is a service provider that receives a share of the income for a limited term. Other brands and companies that cut ties to West . Leave. You got a bunch on the left in a very short sentence on the right. Hit-Boy is an enormously talented songwriter whose relationship we value, a UMPG spokesperson said in a statement to Rolling Stone. Its also important that headings dont provide their own meaning all by themselves. Mike Whelan [00:22:56] So, Ross, I appreciate your thoughts on this. However, only 50 percent of video costscan berecouped from audio-only record royalties. Advances. So so talk to me about this profit sharing piece. So one of Kaynes and all musicians, big beef is that essentially the artists are paying for production of music videos. Twitter users, who were waiting to get their hands on the documents after much suspense, were completely underwhelmed. In this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. The 43-year-old rapper has conceded after his. Im Mike Whelen. "And y'all still gave him contracts, documentaries, endorsements . Its an interesting thing. The language looks like something you might find, you know, 50, 100 years ago. Let me do a screen show real quick to show people what were talking about. West created his first Yeezy shoes with Nike in 2007, and then . Copyright 2023 Penske Business Media, LLC. To fans' delight, Kanye shared the documents in full and large enough to view as a way to let folks know the ins and outs of his record deal. They dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. Kanye West's War Against Record Contracts Could Actually Work for Kanye, Anyway Kanye West wants his rights back. The Nike Air Yeezy 1 Prototypes beat the previous . So, you know, my provision, these are coded blue brief catch picking up on a lot of those. And the record business that it means in normal English. But first, the record labels getting their money. Kanye Omari West is born in Douglasville, Georgia by the proud parents Donda Williams and Ray West. 88-Keys . Whats your background? A lawyers role is to improve deals, not charge for contracts we cannot understand or track. 1990 Kanye's mother, Donda West, helps a then 13-year-old Kanye pay to cut his first record in a basement studio. Yesterday afternoon, Kanye, who previously said he was going to share his 10 UMG contracts via Twitter, unloaded over 100 documents, tweet by tweet,containing hisrecording agreement with the label, album amendments, profit sharing agreements, label agreements and documents forWatch the Throne,his joint album with Jay-Z. Miguel Candela / Anadolu Agency via Getty Images file Advances are just loans!! Are not just for royalties. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. In in your estimation, does this thread the needle of checking the legal boxes, but also being plain enough? Kanye West has been slapped with a lawsuit by music publisher EMI after attempting to get out of his publishing deal by claiming the contract equates to slavery.. We were lucky because we were careful. Im seeing a lot of these highlights. The outspoken music artist - who considered running. Kanye Westmade good on his promise by sharing the many pages ofhis recording contracts with his label Universal Music Group. So this is something later in the series, I imagine theres a back story, you know, tense, tense discussions about the money part. If you look at these agreements, though, from Kanye, that thats not just the CD references that are archaic. If West went over the $4-million budget in making the album, he would have to pay . Cruel Summer/Hawaii costs shall befully cross-collateralized with Kanye's main royalties account. For his second contract period, Roc-A-Fella gave Ye18 percent of the royalty base with respect to master recordings from the second contract term,18 percent of sales of an album in excess of 500,000 units and19 percent of sales of an album in excess of 2 million units. Pearl Jam Vinyl Records. Undoubtedly, who But they were reluctant to strike a deal with the young producer/rapper. One seems to be this issue of Ive got to check some legal boxes. We have been engaged in an ongoing dialogue with Hit-Boy and all the concerned parties to address his concerns and will continue to do so until a reasonable solution is achieved.). Music; a backronym for Getting Out Our Dreams) is an American independent record label founded by rapper Kanye West in 2004. So, you know, theres a lot in contract language thats really just generic legaleese the same kinds of things you see in other documents. Are they making too much? Watch to see how three transactions handled alternative dispute resolution options. Law Insider Completes First Legal Tech Investment and Distribution Partnership with Inkly, All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. XXL has taken a deep dive into Kanye's record contracts. Kanye was also prohibited from recording anew album prior to 90 days after delivering the effortto Roc-A-Fella. A pair of Kanye West's Nike Air Yeezy 1 sneakers for sale for $2 million at the Sotheby's show in Hong Kong on April 16, 2021. I think thats probably not happening even for the aviation contracts, nor is it really realistic here, but. As far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with Rolling Stone call Wests deal standard for an artist at his level. And you guys, if you want to see this contract and want to get the show notes from this tear down where we can link you to these documents and to other resources that interpret the document, just go to lawinsider.com/resources. (In response, the label played down the conflict: Theres no more independent plants, no more putting all these CDs in a truck and shipping them from store to store across the country, Chris Anokute, founder of entertainment company Young Forever Inc. and a former A&R executive for labels including Capitol and Island Def Jam, tells, Anokute manages several clients including Curtis Waters, who recently, While Anokute points the barrel primarily at the labels dishing out deals arguing that these deals perpetuate the very inequalities for black artists that the, If you have a kid who knows nothing about law and sees all this money, these contracts are 60 pages long, who the fuck is reading that? Anokute says. According to West's court papers, he's been "laboring" for EMI since 2003, when during the recording of College Dropout he signed a "lopsided" contract with the music publisher. Tell me what people are talking about. Island Def Jam can also recoup 100 percent profit ofCruel Summer/Hawaii costs. In September 2020, "Kanye West Record Deal" started trending. From that money, $4 million was allocated to recording costs. Right. Addeddate 2020-09-21 23:04:27 Identifier KanyeWestContracts Identifier-ark ark:/13960/t0jt91382 Ocr Having the original text on the left side, then adding a shortened version on the right helps. You meme creators, but you, Ross Guberman [00:04:05] look a little to hip to be from D.C., though, and. Its an exclusion, a liability. NO other business in the world takes a look at the business, buys shares, starts to profit when it profits. Rosss balanced language approach will help you meet your clients demands for both clarity and effectiveness. September 18, 2020. I AM ONE OF THE MOST FAMOUS PEOPLE ON THE PLANET AND UNIVERSAL WONT TELL ME WHAT MY MASTERS COST BECAUSE THEY KNOW I CAN AFFORD THEM BLACK MASTERS MATTER.". Musicto other labels within the UMG group of labels, if no other UMG group of labels wants to enter into an agreement through G.O.O.D. For Kanye West's profit share agreement with Island Def Jam/UMG, there was a 50 percent profit split for his sixth and seventh album, whichincludes distribution, marketing, recording and any other expenses. And for Kanye and for all these performers, they were really giving money based on albums, unlike CD sales, which is not a thing anymore. Should the labels be able to make a profit off of this? Youve got a before and an after, and Ill share with you guys as well the sort of color coding that Ross is using for the different kinds of language on here. After the advance was recouped, 15 percent of royalties were to be given to both artists. Several artists have voiced their own grievances in response to Kanyes call for transparency. Search the history of over 797 billion Ross Guberman [00:16:40] Yeah, you really hit the nail on the head. West is also no longer with record label Def Jam a Universal Music Group subsidiaryas he has fulfilled his contract, Forbes reported Thursday, and his own label, G.O.O.D. Lawyers. Thats not the game here, Noonan recalls as the mindset when negotiating contracts. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. Oct. 25, 2022 Updated 11:22 a.m. Practical in the sense that its tracking reality while still hopefully remaining faithful to the original. Youve been dealing with this for a while. Kanye West's Contract Late last year, Kanye West took to Twitter to vent his frustration about complicated contract language. You want to get in and get as much as you can is what we were told. We get used to these things and then sometimes, theres a wakeup call . He says the industry must holistically evaluate how to improve for any major changes to shift. Of that, two-thirds ($8 million) was an advance for him to keep. Now we know where the funds will come from, so its its. Why are artists paying a 20 percent distribution fee off the top?, Related The first is this one from LinkedIn. In this episode of the Contract Teardown show, guest Diana Isyanova shares three possible approaches. This is a tool that is available to anyone looking to implement plain language into their contracts. Kanye West Contracts : Free Download, Borrow, and Streaming : Internet Archive Kanye West Contracts Topics Kanye West Collection opensource Language English Uploaded for archival purposes. If we were to legit tear down, wed be here till 2021, assuming we all live that long. That said, Yeezy made it clear that his mission has been to inform the masses of the inner workings of his record label contacts, which he deems unfair, in hopes of trying to get UMG to budge on letting him buy his masters. So, Ross, this document, why does it matter? And according to the general counsel, its worked wonders. We get used to these things and then sometimes, theres a wakeup call.. The music industry needs more clarity when approaching artists with deals so they understand the tradeoff that theyre making., Amy Noonan, who records as Qveen Herby and was formerly half of 2010s pop duo Karmin, had what she describes as a lucky experience: She and her now-husband and bandmate signed a deal with Epic Records in 2011 after Karmin started going viral on YouTube, and they got out of that deal four years later. Obviously, we cant share the whole thing, but well make sure that you have a link to the whole thing in the show notes over at LawInsider.com/Resources. Rock Kanye West Vinyl Records. It was pretty awesome because it was specifically about contracts. And examples of a couple of companies tackling the issue. We can walk you through that process and get you on the show to tear down another contract. Were going to pay that to you. Kanye West gave the world a rare glimpse into the music industrys labyrinth of recording contracts last week when he tweeted out his own paperwork with Universal Music Group and then lambasted those agreements as exploitative and unfair, demanding his copyrights be returned to him. Theyre taking risks and investing in acts, Kinney says. We talk about differentiating between archaic language thats necessary and archaic language you should cut, as well as tools you can use to identify that language. Is it fair? Report: Kanyes Anti-Semitic Rhetoric Led to Assaults, Vandalism, If you have a kid who knows nothing about law and sees all this money, these contracts are 60 pages long, who the fuck is reading that? longtime A&R exec Chris Anokute, Anokute manages several clients including Curtis Waters, who recently went viral through his TikTok hit Stunnin. While Waters was courted by many major labels,at Anokutes counsel, he signed a shorter-term 60-40 profit-split deal with BMG. Theres theres a counseling function in addition to a drafting function that seems to be really important that lawyers didnt do here. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. So from a record label standpoint at the moment, the split Kanye has above is in many cases flipped. Right. What am I looking at here? Ye by Kanye West (Record, 2018) (9) 100% agree - Would recommend. So so as I play this in the background, tell me about some of the phrases that youre seeing in this that are just driving you nuts. How are businesses shifting to using plain language? Join me and my friends. Theres even a reference to a so-called PDF I guest. Ross Guberman [00:18:04] So one, you know, one one thing going on here is trying to track chronology in the real world. During his rant, Kanye declared that he would move the entire music industry into the 21st century, and he means to do this using clear and discernable language. This past Wednesday, September 16, Kanye West, in an attempt to " change the music industry for good ," shared his recording contracts with Roc-A-Fella, Def Jam Recordings, and Universal. Mike Whelan [00:03:02] Thats right. The rest went for recording costs, sample clearance, and other costs involved in making the album. So lets talk a little bit. But its basically one contract with a whole bunch of stacked on amendments and documents. Mike Whelan [00:08:46] Well, and on that one more example of an experiment before we get to Kanyes and trying to create this answer, his call for plain language, this GE image, they seem to be experimenting a bit again with changing the language. The deal starts where he doesnt have as much clout, hell get mutual creative control, but later he gets more, and the deals get better as Kanye becomes Kanye, says Kinney, who has worked with platinum-selling artists, producers, and estates. So, Ross, were going to tear down the contracts that Kanye shared. After delivering his proof, Yeezy tweeted, "90% of the record contracts on the planet are still on a royalty A standard record deal is a trap to NEVER have you recoup, and theres all these hidden costs like the 'distribution fees' many labels put in their contracts to make even more money off our work without even trying.". $20.99 Used. Ross Guberman [00:13:17] Yeah, so, you know, you want to you want to look at these provisions in chunks or blocs or categories so you can sort of thread the needle between, you know, what what the clients might demand and what lawyers think is is in their interests. Its all digital. And, you know, this sort of juncture between functional language and legal language languages is my sweet spot. Ye says he wants his four children to own them. Kanye West had already been burning bridges in the music industry. Youll also get webinars and daily tips on drafting and negotiating contracts, not to mention access to the worlds largest database of sample clauses and contracts. Ye asked for $12 million, and $8 million would be paid promptly after the full execution of the 2012 amendment. Theyll follow their attorneys recommendation. Its on the left, just as people dont want, you know, headings and contracts to have meaning as well. You need to have some consistency, trying to keep that in there while still, again, capturing the the legal the truly contract law based elements of the original, the proviso, the, you know, the preemption, the classic for the avoidance of doubt and so forth, trying to trying to preserve all that, but not going so far as to worry about sentence length just for the sake of sentence length. Based on the agreement,Universal Music Group gave Kanye a $3.2 million budget for the film, but Ye later informed them that budget was exceeded by $1.5 million. In a follow-up tweet, Yeezy said, "I have to tweet page by page The PDF is not loading on twitter.". There are there are archaic phrases that that for this to be legally binding, for me to stay out of trouble, need to be in there. his own paperwork with Universal Music Group and then, far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with. Ross Guberman [00:12:19] Yeah, I mean, as you said, Mike, theres theres a really, really complicated series of documents styled loosely as amendments, modifications, addendums. Major record labels will typically receive 75%-95% and the artists 5%-25% of royalties. Be the first one to, Advanced embedding details, examples, and help, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_abbyy.gz, 2011.01.11-Kanye WestJay Z Duet Album Agreement_abbyy.gz, 2012.05.04-Amendment recording agreement_abbyy.gz, 2012.05.07-Amendment, including original recording agreement_abbyy.gz, 2012.05.07-Profit Share Agreement_abbyy.gz, 2012.05.17-Amendment to Recording Agreement and Film Agreement_abbyy.gz, 2013.03.10-Amendment recording agreement_abbyy.gz, 2014.08.11-Amendment recording agreement_abbyy.gz, 2019.01.09--Summary of Kanye West's Label Agreements_abbyy.gz, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_daisy.zip, 2011.01.11-Kanye WestJay Z Duet Album Agreement_daisy.zip, 2012.05.04-Amendment recording agreement_daisy.zip, 2012.05.07-Amendment, including original recording agreement_daisy.zip, 2012.05.07-Profit Share Agreement_daisy.zip, 2012.05.17-Amendment to Recording Agreement and Film 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(last updated 12/31/2014). Now, with a click of a finger, your music goes wide to 7 billion people if you want it to. Long after amendments and documents deep dive into Kanye 's record contracts this realistic to even about... Of those and the artists 5 % -25 % of royalties were to be this issue of Ive to... 15 percent of video costscan berecouped from audio-only record royalties to give people a little of. Label / publisher is a tool that is available to anyone looking to implement plain and! Transactions handled alternative dispute resolution options to show people what were talking about shares three possible approaches million. Kanye feel that they are being cheated me do a screen show real quick show! A couple of companies tackling the issue has taken a deep dive into Kanye main... Work for Kanye, Anyway Kanye West in 2004 is to improve for any major to... To legit tear down the contracts that Kanye shared he would have to pay ; s War record. 5 % -25 % of royalties three transactions handled alternative dispute resolution options welcome to Insiders! Get you on the left, just as people dont want, you know, damaging conclusion many... Artists 5 % -25 % of royalties used to these things and then sometimes, theres a wakeup.... Your clients demands for both clarity and effectiveness in and get as much as you can is what we to! The largest record deal for a British musician by surpassing 100 percent profit Summer/Hawaii. Anadolu Agency via Getty Images file Advances are just loans! of service references that are archaic references are! 2020, & quot ; Kanye West record deal for a limited term Yeezy with!, these are coded blue brief catch picking up on a lot of those talented songwriter relationship. Also prohibited from recording anew album prior to 90 days after delivering the effortto Roc-A-Fella this. 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