Ross Guberman [00:22:31] but definitely something to that. Lawyers. The after section is where GE has broken down the text into something more friendly for business people. We were going to take whoever gave the most money., As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. (Epic did not respond to a request for comment for this story. The 100 Best Albums of 2022. For Kanye, his 15% royalty rate on wholesale for each sneaker sold has netted him roughly $150 million pre-tax annually. 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.. Let me do a screen show real quick to show people what were talking about. 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. Kanye was also prohibited from recording anew album prior to 90 days after delivering the effortto Roc-A-Fella. Entrepreneur and musician Kanye West lost his lucrative multi-year deal to design sneaker brand Yeezy for Adidas after making antisemitic comments. How do I nudge a contract toward plain language without undermining the agreement? Who made this up so that record companies get 70 percent of the money? So you keep those and then you also, of course, in your sector or industry, want to keep those terms of art as well. Contract #3. A lot of people say they sign a million-dollar deal, but you dont get a check for $1 million, Noonan adds. Music won't offerservices or provide A&R or label services related to more than two rejected artists. He shared the dramatic, rant-fueled background and then took Kanyes request seriously. Mike Whelan [00:01:20] Pretty classy nightstand, Ross. Ye also had to seek written approval from the labelat least 14 days before the first recording session. Were were coloring pictures for you so you understand whats happening here? 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. 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). Theyre taking risks and investing in acts, Kinney says. Youve got defined terms of art in there. So youre seeing some attempt by LinkedIn. Is it fair? You know, this first sentence youre still seeing, first of all, the first sentence is six lines, right? 1990 Kanye's mother, Donda West, helps a then 13-year-old Kanye pay to cut his first record in a basement studio. One seems to be this issue of Ive got to check some legal boxes. Were lucky we were told the truth in so many ways.. 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. He tweeted them so I made PDFs. They dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. Its all digital. Late last year, Kanye West took to Twitter to vent his frustration about complicated contract language. 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. Some of the phrases are unnecessarily complicated. Most comprehensive library of legal defined terms on your mobile device. West created his first Yeezy shoes with Nike in 2007, and then . Labels are taking risks on any given signing and need to make offers that keep the company profitable. But theres also the issue of this is supposed to represent a meeting of the minds. Whats the best way to get in touch with you to learn these skills? On Wednesday afternoon (Sept. 16), Yeezy shared over 100 pages of documents tweet by tweet, containing information pertaining to his recording agreement with the powerhouse, album amendments, profit sharing agreements, label agreements and documents on his joint album with Jay-Z,Watch the Throne. 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. The rapper has put out nine albums over 17 years through Roc-a-Fella Records. Mike Whelan [00:21:42] Yeah, I sort of feel like the conclusion for me from this and this probably isnt a popular take, is that the issue here was not necessarily that he had to do the beautiful mind thing and put documents all over the place with strings, attaching them in a great conspiracy or whatever it was that he didnt have somebody to help do that for him. Send us a tip using our anonymous form. Kanye West West's case argues that he has been "labouring" for EMI since 2003, and cites a California Labour Code that limits personal service contracts to no more than seven years. Oct. 25, 2022 Updated 11:22 a.m. Rosss balanced language approach will help you meet your clients demands for both clarity and effectiveness. Like youre youre still youve got a complicated sentence with clauses. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. Of that, two-thirds ($8 million) was an advance for him to keep. 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. 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. The first is this one from LinkedIn. The documents contain information about royalties, distribution fees and more. Ross Guberman [00:09:03] Yeah, exactly. 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. However, there are a few conditions: the artist will first be offered a dealthrough G.O.O.D. His. 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. The partnership was a nightmare for both Negrito and the label, he says. I need every lawyer in the world to look at these," he wrote. Twitter users, who were waiting to get their hands on the documents after much suspense, were completely underwhelmed. Distribution fees, for example, are frequently cited by industry critics, who note that CDs and vinyl no longer drive sales, and the hefty label surcharge intended for moving physical units across the country may not be altogether necessary. And so Kanye is at this point where hes like, dude, I got to have some other ways to make money. Mike Whelan [00:17:34] Yeah, I like the phrase sufficient moneys. Histhird contract period consisted of15 percent of the royalty base with respect to master recordings during third contract period,15 percent of sales of an album in excess of 500,000 units and16 percent of sales of an album in excess of 1 million units. After a slight struggle trying to share the files, Kanye boasted that him revealing his old record label contracts was going to be a literal game changer. For example, LinkedIn has made some effort to provide easy-to-understand language. Search the history of over 797 billion Kanye West's recent Twitter rant has led to himrevealing the intricate details of his record label contract, which he initially signed over adecade ago. . Ross Guberman [00:15:01] Yeah, Kanye could read this. The language looks like something you might find, you know, 50, 100 years ago. And whether whether its, you know, a lawyer literally turning the contract into plain language or turning to Kanye and saying, let me tell you what this means. Why should the lawyers watching this thing care other than the sick entertainment value of watching somebody have a breakdown about contracts? But first, the record labels getting their money. NO other business in the world takes a look at the business, buys shares, starts to profit when it profits. Were going to deduct a million dollars. We want to hear it. The equity is the Artists. So as you can see, this is quite different from what LinkedIn is going to do. Maybe its about time I do that., Like others, Negrito, who released his third independent LP. They dont want they dont want whats on the right to somehow control. So you pay to see your money!!! Addeddate 2020-09-21 23:04:27 Identifier KanyeWestContracts Identifier-ark ark:/13960/t0jt91382 Ocr 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. It was an emotional breakdown about contracts, which just doesnt happen enough. 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. 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. Russ and I are going to do a pretty fun and weird thing today. W aiting for a Kanye West album can be an excruciating, interminable experience. Based on Kanye's documentation, it looks like there was also aCruel Summer film in the works. Why are artists paying a 20 percent distribution fee off the top?, Related Copyright 2023 Penske Business Media, LLC. Mike Whelan [00:06:47] Yeah, the king was upset, the King James Bible of contracts, of record deals. his own paperwork with Universal Music Group and then, far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with. Portals. Money and Music must stay together. I do a lot of these kind of microlevel edits that people seem to like. Before we do, Ross, I want you to tell me about yourself. Right. The after section shows which changes Gruberman suggests need to be made. It was pretty awesome because it was specifically about contracts. Ye asked for $12 million, and $8 million would be paid promptly after the full execution of the 2012 amendment. From that money, $4 million was allocated to recording costs. Now, with a click of a finger, your music goes wide to 7 billion people if you want it to. Every audio file, every asset, every deal stored WITH the money. He ended the spree with, 'Whew that was a lot guys," and then tweeted a video of himself peeing on a Grammy award. Youre going to sign the amendment. So we want to talk briefly about this profit sharing piece, this image here, because theres a lot of language that might lead to artists not understanding that theyre getting into that pretty crappy deal, honestly. Mike Whelan [00:22:56] So, Ross, I appreciate your thoughts on this. Kanye West signed singer-songwriter Teyana Taylor to his record label, G.O.O.D Music, in 2012 while she was in the midst of production on his album "My Beautiful Dark Twisted Fantasy . One way to begin is by bracketing off phrases or words that you know have a substantive value. Is this different than the LinkedIn attempt? $26.59 New. We need plain English contracts. In order to maintain the original intent, some legal jargon and industry terms must remain intact. We were broke college kids right after the recession. Ross Guberman [00:22:25] Well, you know, we dont know whether the lawyers did and he didnt listen or whether. If you push this button, youre going to save big. 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. So, Ross, were going to tear down the contracts that Kanye shared. Kanye West's call for transparency in the music industry has led other artists to speak up. What is this document? For the sixth album, Kanye received a $12 million advance. You can imagine the anxiety the in-house counsel have, right? 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. You should need NO ONE else to understand the business youre in. Island Def Jam can also recoup 100 percent profit ofCruel Summer/Hawaii costs. Side note: usually artists get between 12-15% royalty rate but Kanye was already being a huge hit so he could negotiate a higher fee. As for Kanye's royalties, the percentages varied for his first, second and third contract periods. 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. In in your estimation, does this thread the needle of checking the legal boxes, but also being plain enough? Right. Law Insider compiled Kanye West's contract tweetstorm into complete, downloadable contracts. Music for that rejected artist, the labelhas the right to enter into an agreement with a third party label. (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. 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. I wrote a book. The rapper and his team signed an agreement on January 5 with the venue for a 25-day rental totaling $125,000, expenses of $20,000, and four new office chairs for $813, the lawsuit says. Ross Guberman [00:01:18] If it works, right? Music. After agreeing to the amount spent on the film, they took $1 million from Kanyes sixth album backend and then $500,000 from his seventh album's recording fund. 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] And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. This is Kanyes contracts. 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. Challenging yourself to put things in terms people can understand without affecting the overall meaning can uncover ambiguities, saving you time in the long run. So theres this GE aviation series of rewritten contracts. Welcome to Law Insiders Contract Teardown Show, where we bring smart friends like Ross Guberman over here to break down some contracts. This is a situation were in. Rock Kanye West Vinyl Records. And thats, you know, damaging conclusion from many perspectives. 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. A month ago, Kanye West had an emotional breakdown on Twitter. Music, is no. Its its unfortunately the the words and phrases that are operative to. Practical in the sense that its tracking reality while still hopefully remaining faithful to the original. Watch to see how three transactions handled alternative dispute resolution options. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. Kanye West gave the world a rare glimpse into the music industry 's labyrinth of recording contracts last week when he tweeted out his own paperwork with Universal Music Group and then. THE HOST:Mike Whelan is the author of Lawyer Forward: Finding Your Place in the Future of Law and host of the Lawyer Forward community. Pearl Jam Vinyl Records. It shows he got a $3.5 million advance on his. Broadly, what Ill say is theres this really weird profit sharing structure with this with these deals, because what the the record label will do is say we get our money, then we take expenses out. (Rex Features) Kanye West tweeted dozens of pages from his recording contract with Universal Music Group yesterday (Wednesday 16 September . So we dont want to change recouped because now we would be not faithful to the substance. 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. Kanye West tweets Univeral Label Contract. Come join my friends. The Record Label / Publisher is a service provider that receives a share of the income for a limited term. Ye said of the images: "This is what me Kanye West deal looks like . 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. The 100 Greatest TV Shows of All Time You got a bunch on the left in a very short sentence on the right. Record Companies have to buy into you, not loan you. 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. Guberman starts by assuring that several companies are already implementing a plain language strategy in their contracts. And, you know, this sort of juncture between functional language and legal language languages is my sweet spot. Kanye West's first record label he signed with was a pretty major institution. We didnt spend our advance on cars or jewelry, we bought a house. And Im going to share a few images. You want to get in and get as much as you can is what we were told. Epic spent a fortune making that Karmin album. Kanye West, seen in 2019, has lost business deals in light of his recent antisemitic remarks. Labels generally hedge their bets on younger artists not just so the labels can reap considerable profits, but in order to protect their ongoing existence: Most artists who get signed wont break through, and the success of one major star can help make up for those bad bets. Twenty-two percent of royalties were to be given on both the sixth and seventh albums. web pages Thats probably more than enough. Kanye Wests Record Deal Is Standard. Uploaded by . Facebook did something a little bit different, but along the same lines to, you know, to keep the language the lawyers want on the left and then on the right either introduced the topic or the issue that the provision covers or in some cases actually rewrite it in plain English, as you know, were discussing. Advances are loans with 75% interest rates (or worse). Right. Mike Whelan [00:22:29] he did not listen. Theyre paying for all of the promotion of music videos and concerts because its coming out off the top. Well, what we said the provision means is not what it means, but again, you need to know. Wests contract could even be considered favorable among superstar contracts, with Universal heavily investing in Wests works, entertainment attorney Christiane Kinney says. Earlier this week, he denounced the contracts being provided by Sony and Universal . It would also give Adele the largest record deal for a British musician by surpassing . As usual, West's behavior has spurred an onslaught of speculation regarding a possible return to a business relationship with Nike. And they stack this money in a in a very beneficial way to the label because the way artists make money totally shifted. However, Gruberman says this is still a good way to use plain language for understandability. We were going to take whoever gave the most money., As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. This is a tool that is available to anyone looking to implement plain language into their contracts. We would like to show you a description here but the site won't allow us. So this is right up my alley and Im calling from calling from the Capitol, right outside the Capitol and Northern Virginia. Mike Whelan [00:00:53] Hey, everybody. Milana Lewis, CEO of music distribution platform Stem, says record labels should start including explanatory pro-forma documents with deals, in order to promote transparency and make it easier for artists to understand what comes in their agreements. If you want to be on a future contract tear down. So, Ross, this brings us to this whole conversation about plain language in contract writing. 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. He says the industry must holistically evaluate how to improve for any major changes to shift. The titles of the files cannot be seen in full, but three of the thumbnails are saved as amendments, one appears to be a record agreement and the fifth file says "Kanye WestJay," which likely pertains to their 2011Watch the Throne album. The lawyers in this industry who are used to the status quo are going to say its worth it, but if I make a deal with you and go to lunch and say you pay 70 [percent], I dont think youll say its fair. Its all made from videos. Gruberman states that it is possible to use plain English while keeping meaningful industry and legal terms intact. The rest went for recording costs, sample clearance, and other costs involved in making the album. Kanye West signed to Roc-A-Fella Records, which was under Island Def Jam Music Group, whose parent company is Universal Music Group, on April 13, 2005. 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 dumped them all on Twitter. When youre awake to this, you cant be the perpetrator anymore.. Is this realistic to even talk about plain language and contract drafting? Kanye West vs. So lets shift to the Kanye contract, and were not going to do a full breakdown of what all these documents are, because theres a lot and there are good YouTube videos out there. It seems that the artists themselves are paying for the production and promotion of their work since their cut goes towards expenses, but the labels cut does not. And the whole thing does feel very, very dated and and remote. Music; a backronym for Getting Out Our Dreams) is an American independent record label founded by rapper Kanye West in 2004. Right. I will not share the image of Kanye West urinating on his Grammy, though. The once hesitant label has now hit the. I mean, shoot, producers can take $15,000 to $20,000 a piece on each track. Mike Whelan [00:24:07] That is perfect. Mike Whelan [00:04:08] wearing the shirt. Theres a lot going on here. 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. Im seeing a lot of these highlights. ET. ), 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. Not every artist has time to read the, Amy Noonan, who records as Qveen Herby and was formerly half of 2010s pop duo. Just email us at Community@LawInsider.com. 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. You need a business manager to read how you did? 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. On each track was allocated to recording costs a tool that is available to anyone looking implement! Attorney Christiane Kinney says its its unfortunately the the words and phrases that are operative to term... The money language looks like there was also prohibited from recording anew album prior to days... They stack this money in a very short sentence on the right to somehow control, are! Was a pretty major institution for example, LinkedIn has made some effort to provide easy-to-understand language roughly 150... To profit when it profits business deals in light of his recent antisemitic remarks Kanye received a $ 12,! Shoot, producers can take $ kanye west record contract pdf to $ 20,000 a piece on each track people! 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Fees and more how three transactions handled alternative dispute resolution options million annually! Copyright 2023 Penske business Media, LLC a tool that is available to anyone looking to plain! To begin is by bracketing off phrases or words that you know, is. ( Rex Features ) Kanye West, seen in 2019, has lost business in. Look at these, '' he wrote language in contract writing at the business, buys shares, starts profit... Bible of contracts, of record deals, two-thirds ( $ 8 million would be not faithful the. 14 days before the first recording session Capitol and Northern Virginia, Kinney says sort of juncture between language. This is right up my alley and Im calling from the Capitol and Virginia... To know make offers that keep the company profitable thats, you know, damaging conclusion from many perspectives,... This money in a very beneficial way to use plain English while keeping meaningful industry and legal intact! 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