not charge for contracts we cannot understand or track. You should need NO ONE else to understand the business youre in. Ross Guberman [00:16:40] Yeah, you really hit the nail on the head. In the docs forKanye's exclusive recording agreement, information includes that grantor's royalty account and the production budget for the applicable recording project will be charged with a record cost item of $30,000 per album (or $3,000 per side for a project for the recording of less than an album). And then on the contract lingo, contract language side, we approach it differently. Right. This helps cut down on negotiation time, which can lead to making better deals. You meme creators, but you, Ross Guberman [00:04:05] look a little to hip to be from D.C., though, and. The after version that Gruberman shares is shorter, which is one benefit to cutting out unnecessary language, but it also better tracks the chronology of the real world. Music won't offerservices or provide A&R or label services related to more than two rejected artists. He says that what he wants to do specifically is move the entire music industry into the 21st century because he didnt feel like that was adaptive. The Record Industry Spencer Cornelia 486K subscribers Subscribe 98K views 2 years ago Kanye West recently posted his record contracts on Twitter and it's clearly become a. As Kanye West escalates his battle with Universal Music Group, the Chicago rapper decided to share the entirety of his record contract on Twitter. 1980 At 3, Kanye moves to Chicago with his mother following his parents' divorce. Yeezy, West's sneaker and apparel business with Adidas AG and Gap Inc., is valued at $3.2 billion to $4.7 billion by UBS Group AG, according to a private document reviewed by Bloomberg. (In response, the label played down the conflict:We pride ourselves on our industry-leading track record of putting songwriters first and helping them to achieve their creative and commercial goals. We were broke college kids right after the recession. I hope youre enjoying this episode of the contract tear down show. Most comprehensive library of legal defined terms on your mobile device. Having the original text on the left side, then adding a shortened version on the right helps. Twitter users, who were waiting to get their hands on the documents after much suspense, were completely underwhelmed. Whats your background? Are not just for royalties. Money and Music must stay together. Mike Whelan [00:00:53] Hey, everybody. Undoubtedly, who Maybe its about time I do that.. The partnership was a nightmare for both Negrito and the label, he says. Calls for plain language arent new in the contracts industry, but those calls rarely come with celebrity buzz. Were lucky we were told the truth in so many ways.. I guess my question is, could Kanye read this, do you think? Leave. A lawyers role is to improve deals, not charge for contracts we cannot understand or track. Ross Guberman [00:00:00] You look at these agreements, though, from Kanye, thats not just the CDC references that are archaic, the language looks like something you might find, you know, 50, 100 years ago. Exclusive Recording Agreement THE ISLAND DEF JAM MUSIC GROUP,A DIVISION OF UMG RECORDINGS, INC. 1755 BROADWAY NEW YORK, NEW YORK 10019 Dated as of March 10, 2013 Kanye West c/o Carroll, Guido & Groffman, LLP 1790 Broadway, 20 th Floor Suite 800 New York, NY 10019 Attention: Michael Guido, Esq. On Wednesday afternoon, Kanye West publicly posted what he purported to be his Universal Music Group recording contracts, sharing them page by page via Twitter. See BBC report here. Will we be seeing a President Kanye? June 21, 2019, 2:27 PM PDT. Thus,50 percent of these costs incurred by Roc-A-Fella are considered advances, but the label could notrecoup more than $40,000 for each album relevant to these costs: creation, hosting, maintenance of artists website, securing, registering and/or protecting artist domain names, creation of ECD materials, independent promotion, independent marketing and independent publicity, television, movie or radio campaigns. This method perhaps isnt as friendly to consumers as LinkedIns method, but its close enough to the source material and still understandable. So, yeah, there you go. Thats why we brought contract language expert Ross Guberman onto the Contract Teardown show. Kanye's Exclusive Recording Agreement In the docs for Kanye's exclusive recording agreement, information includes that grantor's royalty account and the production budget for the. They dont want they dont want whats on the right to somehow control. We were broke college kids right after the recession. T, hey dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. Kanye West Says He Won't Release New Music Until Freed From Sony and Universal Contracts: Declaring himself "the new Moses" while demanding apologies from Drake and J. Cole. Theres a lot we can do. He ended the spree with, 'Whew that was a lot guys," and then tweeted a video of himself peeing on a Grammy award. Several artists have voiced their own grievances in response to Kanyes call for transparency. Mike Whelan [00:01:11] Yeah, Im doing the fancy background with the product placement. Ye also had to seek written approval from the labelat least 14 days before the first recording session. And then what happens is, as you can see from his other related tweets, the sense is not just, well, I dont understand the contract. And then if theres some kind of a difference between that amount and the recording costs. Is this part of the contract or are they saying this is a separate thing? 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. Ross Guberman [00:20:11] Yeah, I think part of that is really bracketing off, just as you are saying, words and phrases that a lawyer knows have substantive value. Now we know where the funds will come from, so its its. Again back to dependents. 22% royalty rate for Kanye (and 78% for the record label). Ross Guberman [00:09:03] Yeah, exactly. Just minutes prior, he had finished tweeting out the entirety of his Universal contract, one page at a time for a total of more than 100 tweets. Right. We get used to these things and then sometimes, theres a wakeup call . Contract #1 [PDF] Contact #2 [PDF] Contract #3 [PDF] Contract #4 [PDF] Contract #5 [PDF] Contract #6 [PDF] Contract #7 [PDF] Contract #8 [PDF] Contract #9 New Recording and Publishing Deal Guidelines [ PDF] $26.59 New. Ross Guberman [00:03:18] And so Im the president of legal writing prose, so Ive been doing workshops and consulting on all different aspects of lawyer writing and judicial writing for a couple of decades now. However, only 50 percent of video costscan berecouped from audio-only record royalties. Ive got blues and Ive got reds. Lawyers. 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. Looking back, I've thought many times about what makes Kanye Kanye. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. Right. Oct. 28 (UPI) -- Kanye West has been sued for breach of contract in Florida for allegedly failing to pay for a rental space he wanted to use as a recording studio. Yet even though Kanyes deal may not make him the ideal poster child for a conversation on the fairness of recording contracts, hes sparked a high level of discussion among artists and music-business insiders on the nature of record deals and long-held standards. Gruberman emphasizes that you can preserve the contract law-based elements in the before section while still simplifying the text in a consumer-friendly way. Kanye also has a right to have a digital store, in which he can sell his album and the deluxe version on a website, but the deluxe is only exclusive to him for 90 days. The contract indicates that these figures would increase with each release, and Kanye West and his company would receive 20 percent of each minimum after notifying the label that the. It was pretty awesome because it was specifically about contracts. Theres theres a counseling function in addition to a drafting function that seems to be really important that lawyers didnt do here. The you know, the goal is not the same. Right. Theyre paying for all of the promotion of music videos and concerts because its coming out off the top. If theyre doing this to me with all Ive accomplished through hard work, I can only imagine the kids who dont have big placements/proper guidance, Hit-Boy wrote on Instagram. You can imagine the anxiety the in-house counsel have, right? All Rights reserved. Clearing up some of these issues can prevent situations in which law specialists wind up arguing over different interpretations of the text. Equity & Blanket Licenses are the majority of future new income. Moments later, Kanye shared screenshots of five files. Ye (/ j e / YAY; born Kanye Omari West / k n j e / KAHN-yay; June 8, 1977) is an American rapper, singer, songwriter, record producer, and fashion designer.. Born in Atlanta and raised in Chicago, West gained recognition as a producer for Roc-A-Fella Records in the early 2000s, producing singles for several artists and developing the "chipmunk soul" sampling style. Rather than looking at potential profits when labels were courting them, Noonan says Karmin was advised to take the most money they could up front, given how few artists end up recouping from their records. So what I what I what I did here is just pull pull one of the key provisions on the substantive side from this profit sharing agreement so we could try to figure out again whats possible for for the Kanye West of the world. Copyright 2023 Penske Business Media, LLC. For his initial contract period, Yeezy received 8percent of all singles and long-play singles,14 percent of the royalty base with respect to master recordings during initial contract period,14 percent of sales of an album in excess of 500,000 units and15 percent of sales of an album in excess of 1 million units. See's Kanye West's Record Contract Tweets. See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. Rewrite deals to be understandable from FIRST READ. Island Def Jam can also recoup 100 percent profit ofCruel Summer/Hawaii costs. The decline centered around controversial anti-Black and antisemitic comments and other erratic behavior. So theres this GE aviation series of rewritten contracts. He was also responsible for50 percent of the total amount of out-of-pocket expenses incurred or paid by Roc-A-Fellain connection with the preparation of his album's artwork. Major record labels will typically receive 75%-95% and the artists 5%-25% of royalties. Among his concerns: the need for plain language in legal documents (and the disproportionate power complex language can give one party). And the record business that it means in normal English. As for Kanye's royalties, the percentages varied for his first, second and third contract periods. Entrepreneur and musician Kanye West lost his lucrative multi-year deal to design sneaker brand Yeezy for Adidas after making antisemitic comments. It was an emotional breakdown about contracts, which just doesnt happen enough. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. But, Ross, if people want to get in touch with you and get a sense of how to differentiate, I mean, this seems to be the hard skill is differentiating between this is a legally significant and archaic, but its significant. He said, were going to transparently change every album deal, every publishing deal. And there there are lots of there are lots of issues in the original that many, many, you know, entertainment law specialists would probably argue over which which actually, you know, brings up another issue is, is is this plain english movement really just for the clients or are you actually uncovering some conflicts or ambiguities or vagueness or nonsensical expressions altogether in the original if youre, you know, challenging yourself to put them in terms of normal people can understand? Hit-Boy is an enormously talented songwriter whose relationship we value, a UMPG spokesperson said in a statement to Rolling Stone. For the sixth album, Kanye received a $12 million advance. To be a little bit difficult to argue that. Found online, don't shoot the messenger. Advances are just loans!! Mike Whelan [00:10:12] Hey, everybody, Im Mike Whelen. We didnt spend our advance on cars or jewelry, we bought a house. Not withstanding anything to the contrary contained in the recording agreement, Ive got the word Shall a couple of times promptly. Kanye West tweets Univeral Label Contract. Epic spent a fortune making that Karmin album. KANYE WEST, an individual, and WEST . Ye. We would like to show you a description here but the site won't allow us. West's contracts laid it all out. Capture a web page as it appears now for use as a trusted citation in the future. It's unclear if it actually will. 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. Absolutely. So if Im a lawyer and Im negotiating with another side and youre very practical about these things, like although the plain language movement is nice, in theory, youve got to negotiate with somebody else who might like that archaic language. So the rest, you know, if its not a one of those categories, its either an industry term of art or just normal English talking about finance or recording. Mike Whelan [00:17:34] Yeah, I like the phrase sufficient moneys. Theyre taking risks and investing in acts, Kinney says. Gruberman states that it is possible to use plain English while keeping meaningful industry and legal terms intact. What is your story, Ross Guberman? We want to hear it. Mike Whelan [00:11:02] Hmm. So the blue, you know, the blue, the kinds of things briefcase picks up as well. While recording Donda, Kanye West paid $1 million per day to live in the belly of . . His musical career has been marked by dramatic changes in styles, incorporating an eclectic range of influences including soul, baroque pop, electro, indie rock, synth-pop, industrial and gospel. Ye by Kanye West (Record, 2018) (9) 100% agree - Would recommend. Before we do, Ross, I want you to tell me about yourself. Youre going to sign the amendment. But if Kanye West 's statements last year about slavery being a choice were out of bounds, he's taking more of a Prince-like tactic in his ongoing efforts to extract himself from his record. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. Thats not the game here, Noonan recalls as the mindset when negotiating contracts. 1990 Kanye's mother, Donda West, helps a then 13-year-old Kanye pay to cut his first record in a basement studio. The reason to do that is to join more people who care about the things that you care about. They would pay Kanye back after the successful completion of the film, provided it was up to standards. Music; a backronym for Getting Out Our Dreams) is an American independent record label founded by rapper Kanye West in 2004. We took the full. Coming from the tech space, when we raise money and talk with investors to get capital into our business, were armed with a pro-forma that lets us understand how much were taking on and see exactly how the numbers work out. There are no reviews yet. You dont want to change reasonable efforts where you dont necessarily want to rewrite the word severable. So Im going to give a couple of examples, Ross, that you shared with me about how some of these businesses are doing this, shifting over to plain language. Law Insider, in partnership with Laura Frederick and How to Contract, is hosting ContractsCon 2023, a live training and networking event focused on practical contract drafting and negotiating skills for in-house counsel and contracts professionals. Im going to give people a little bit of background on the Twitter rant about contracts. We don't know - still - who the next US president will be, but we do know who it won't be - Kanye West. Some examples would be words such as materiality, reasonable efforts, and severable. So, Ross, this brings us to this whole conversation about plain language in contract writing. Ye said of the images: "This is what me Kanye West deal looks like . Artists re-signing these stops. Almost no artists recoup so the system obviously doesnt work, but its tempting. Kanye West Posts Over 100 Pages of His Record Label Contracts, Tweet by Tweet Tyler Sharp Published: September 16, 2020 David Crotty / Patrick McMullan, Getty Images Kanye West made. Push this button right here that will allow you to join Law Insider at a premium subscription. This is the Def Jam amendment. 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),. Mike Whelan [00:22:29] he did not listen. In this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. For years, the rapper has set release dates with his label, only to blow by them with . 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. Youll get access to more content like this. But there theres a lot you can do there, as the GE example has shown. And thats, you know, damaging conclusion from many perspectives. Contract #3. Youre not trying to make it really friendly for consumers, but you are trying to make it friendly for business people while still preserving, as you can see in the rewrite as most of the actual terms of art. So, you know, my provision, these are coded blue brief catch picking up on a lot of those. In the process of that latter Twitter. Ideally, he says, artists should have legal representation working in their best interest to point out red-flag clauses: While an artist should be wary of what theyre signing rather than looking solely at the immediate paycheck, young and starry-eyed artists whove never seen so much money may not understand that yet. For that LP, there was a recording fund amounting to$2.5 million. 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. He admits that while this is still a complicated section in general, someone like Kanye could understand it enough to know what he is signing. Many young artists dont realize how recoupment works, in which a label fronts the money for artists advances and expenses like recording and marketing, to be paid back to the label through royalties later. And we have to be very careful, of course, you know, translating things like provisos like provided, however, that in dealing with Shell and the like. He created the first-of-its-kind editing plug-in BriefCatch. So I think when you tell lawyers that you can be part of the plain English movement while still, of course, using your good sense and keeping legally meaningful terms intact and certainly keeping industry, you know, meaningful terms intact and then explain that its the rest rights, the rest the pursuant to the full execution. After that point, UMG can distribute the albums on their own. If at that time Ye has not recouped his royalties, the reversion date will be extended until the day after the last day in the accounting period after receiving a statement indicating that the royalty account has been recouped. If a client feels this way, not only are they going to seek out alternatives in the future, they will convince their friends and family to do the same. Was the pissing on the Grammy to much? And they stack this money in a in a very beneficial way to the label because the way artists make money totally shifted. Right. A lot of people say they sign a million-dollar deal, but you dont get a check for $1 million, Noonan adds. The 200 Greatest Singers of All Time ), Rather than looking at potential profits when labels were courting them, Noonan says Karmin was advised to take the most money they could up front, given how few artists end up recouping from their records. However, the film has not yet been released. Ultimately, the issue seems to be that there wasnt somebody with him saying this is what it means. But asking for plain English is easy; writing a legal document thats both enforceable and clear is a bit more complicated. Advances. Theyll follow their attorneys recommendation. He dumped them all on Twitter. And the whole thing does feel very, very dated and and remote. Kanye's call for transparency in the music business has made other artists and industry insiders speak up. So come join us right now. We get used to these things and then sometimes, theres a wakeup call.. And they dont completely replace the jargon that lawyers need to include. Artists must be dependent on no one but themselves to manage their catalog. XXL has taken a deep dive into Kanye's record contracts. So this is something later in the series, I imagine theres a back story, you know, tense, tense discussions about the money part. What is this document? Well, Im looking at the after and, you know, its shorter which which tells me something about the the utility of cutting these bits of archaic language. Now, with a click of a finger, your music goes wide to 7 billion people if you want it to. Over the course of dozens of tweets, West. call Wests deal standard for an artist at his level. They are for your entire business. this summer, doesnt point the finger at any one entity or group for the nature of these deals. Youve got defined terms of art in there. Its all digital. Ross describes a counselor that can thread this very tough plain language needle. He is no longer signed to Def Jam, his longtime record company; his contract expired with his 2021 album, "Donda." And Ye . 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. Mike Whelan [00:04:08] wearing the shirt. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. Its an interesting thing. So, Ross, this document, why does it matter? Its also important that headings dont provide their own meaning all by themselves. Although, there is a concern here. $20.99 Used. Other brands and companies that cut ties to West . The rest is either just plain generically legaleese like hereinafter referred to or to the extent that that we can easily change because theres no special contract law layer there or or actually concrete things that are understandable, like sixth album recording. Kanye West has posted dozens of pages of record contracts, and a video of a Grammy being urinated on, in a lengthy string of tweets criticizing the music industry. Its on the left, just as people dont want, you know, headings and contracts to have meaning as well. Rap superstar Kanye West is leading a revolt against . musical compositions embodied on albums released by a major record label per year (or longer if West needed more time) (each a "Contract Year") for . In 2012, the label released its debut compilation album Cruel Summer.In 2015, Pusha T was appointed the president of the label . You take expenses out and then people are sharing whats left. 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. It would also give Adele the largest record deal for a British musician by surpassing . Oct. 25, 2022 Updated 11:22 a.m. Next came what he calls the music industrys biggest flop his only Interscope album. What do you see? Push the button. We get used to these things and then sometimes, theres a wakeup call Fantastic Negrito, When they left their deal, they chose not to try and buy back their masters, having put out only one album with Epic and feeling they still had their best musical years ahead. The once hesitant label has now hit the. The first thing that changes about Record Deals is actually lawyers. He has also encouraged Black artists to sign with labels owned by Black people. 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. Prior toKanye's relentless tweeting session, heinformed his followers that he wasgoing to share 10 of his contracts with UMG, the parent label to his G.O.O.D. Our Dreams ) is an enormously talented songwriter whose relationship we value, a lot of the label released debut. Materiality, reasonable efforts where you dont necessarily want to rewrite the Shall! And companies that cut ties to West a consumer-friendly way labels will typically receive %. As well 100 % agree - would recommend to design sneaker brand Yeezy for after! Also give Adele the largest record deal for a British musician by.... Five files twitter users, who were waiting to get their hands on the left, just as people want... Who care about entity or group for the record business that it means in normal.! 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