Theyll follow their attorneys recommendation. He tweeted them so I made PDFs. The label signed an exclusive long-term worldwide label agreement with the Island Def Jam Music Group in 2011. Were lucky we were told the truth in so many ways.. We were lucky because we were careful. Ye's business manager's inability to . 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. To be a little bit difficult to argue that. How do I nudge a contract toward plain language without undermining the agreement? We took the full. Based on Kanye's documentation, it looks like there was also aCruel Summer film in the works. So thats, you know, the kind of thing you see in a lot of consumer facing agreements these days, especially with what these tech companies that are under the gun. It was pretty awesome because it was specifically about contracts. Ye said of the images: "This is what me Kanye West deal looks like . Send us a tip using our anonymous form. Maybe its about time I do that., Like others, Negrito, who released his third independent LP. If we were to legit tear down, wed be here till 2021, assuming we all live that long. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. Ross Guberman [00:16:40] Yeah, you really hit the nail on the head. We were broke college kids right after the recession. I wrote a book. 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). Join me and my friends. 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. And so Kanye is at this point where hes like, dude, I got to have some other ways to make money. How are businesses shifting to using plain language? Why should the lawyers watching this thing care other than the sick entertainment value of watching somebody have a breakdown about contracts? Undoubtedly, who What am I looking at here? Somethings got a hold your drink place. 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. You need a business manager to read how you did? Its unfair for the party that lacks visibility into the way the other party is thinking about the numbers, Lewis says. 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. Kanye's call for transparency in the music business has made other artists and industry insiders speak up. This is the Def Jam amendment. In this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. It was an emotional breakdown about contracts, which just doesnt happen enough. on September 21, 2020. Right. Youve been dealing with this for a while. 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. A Lawyers role is to IMPROVE deals. And Im going to share a few images. The 100 Greatest TV Shows of All Time In the event that Kanye's sixth album, Cruel Summer,exceeds 2.65 million units according to the label's track equivalent album sales or "TEAS," Island Def Jam promised to increase Yeezy's seventh album advance by $500,000. Every audio file, every asset, every deal stored WITH the money. Until then, Ross, I appreciate you being here. Where you calling from? Like youre youre still youve got a complicated sentence with clauses. 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. This is what were going after. not charge for contracts we cannot understand or track. One strange structure commonly found in the record industry is the way profits are divided. 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. 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. Theyre there of the, you know, blah, blah, blah, blah, blah, if any. Oct. 25, 2022 Updated 11:22 a.m. So, Ross, this brings us to this whole conversation about plain language in contract writing. Should the labels be able to make a profit off of this? The equity is the Artists. After that point, UMG can distribute the albums on their own. Last modified on Thu 13 Jan 2022 14.04 EST. The contracts show Kanye received a $2.3 million advance in 2005 for his album, Late Registration, with an additional $1.2 million as a recording budget.For . 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. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. It shows this sort of left to right set up on this exclusion of liability document. See BBC report here. How can you rewrite a contract to be understandable without losing the original intent? So heres an amendment. Contract #3. Ross Guberman [00:15:01] Yeah, Kanye could read this. The after section shows which changes Gruberman suggests need to be made. And, to an extent, they're not wrong. So we dont want to change recouped because now we would be not faithful to the substance. Rewrite deals to be understandable from FIRST READ. 1980 At 3, Kanye moves to Chicago with his mother following his parents' divorce. Mike Whelan [00:14:30] So then talk to me about this after Im looking at the after version of the profit sharing agreement. 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. 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. 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. The you know, the goal is not the same. I mean, there there are many words and phrases that do need to remain intact because the risk of trying to translate them informally into common terms is is much bigger than any benefit. Normally, its sort of reversed. West also made his feelings towards the label clear in 2020, when he tweeted images of his record contract, noting he felt he was treated unfairly. If you can describe Im Im thinking about Im going over to this video that you share thats really helpful of your tool brief catch that will go and find some of this redundant, archaic language. Mike Whelan [00:22:29] he did not listen. Is this realistic to even talk about plain language and contract drafting? Watch to see how three transactions handled alternative dispute resolution options. 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. And they stack this money in a in a very beneficial way to the label because the way artists make money totally shifted. So, you know, the fine print, so to speak, does exclude the rewrites on the right. Is this different than the LinkedIn attempt? Whats the best way to get in touch with you to learn these skills? So the tool, the tool were looking at brief catch, you know, there you go. Was the pissing on the Grammy to much? And the reason that it applies to us is this awesome tweet that all the lawyers got excited about, where he says the first thing that changes about record deals is actually lawyers. Twitter users, who were waiting to get their hands on the documents after much suspense, were completely underwhelmed. 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. Copyright 2023 Penske Business Media, LLC. The first contract Kanye posted, dated April 13, 2005, is our earliest look at his deal with Universal through its subsidiary, Island Def Jam. The record label / publisher is a service provider that receives a share of the income for a limited term. What do you see? Ross Guberman [00:09:03] Yeah, exactly. 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. 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 labels have said theyre looking to change he acknowledges that labels alone cant take all the blame for unfriendly artist deals. I hope youre enjoying this episode of the contract tear down show. 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 . So also, you know, go like Legal Writing Pro plus I have a book I coauthored with a retired corporate partner called Deal Struck. Were at sales@LawInsider.com. 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. In 2011, Kanye and Jay-Z joined forces musically and created theirWatch the Thronejoint album. The . And guys, this is a super long document. 1-year deal. Island Def JamMusic Group also agreed to give Kanye the rights, title and interest in all of the masters for his sixth and seventh album, but only after the reversion datethe last day of the semi-annual accounting periodwhich is 20 years after the initial release of the seventh album. The first is this one from LinkedIn. Mike Whelan [00:12:56] So what are the some of just some of the language pieces that stand out to you? 2. So, Ross, were going to tear down the contracts that Kanye shared. Leave. 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. Due to a planned power outage on Friday, 1/14, between 8am-1pm PST, some services may be impacted. Cruel Summer/Hawaii costs shall befully cross-collateralized with Kanye's main royalties account. The rapper initially sued the . Were were coloring pictures for you so you understand whats happening here? Kanyes main issue wasnt that the contract itself was impossible to understand but that no one had sat down with him to put it into terms he could comprehend. Kanye Wests Record Deal Is Standard. . I will never work for a major record label again, Anokute says. 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. 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. 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. Kanye Omari West is born in Douglasville, Georgia by the proud parents Donda Williams and Ray West. So, you know, my provision, these are coded blue brief catch picking up on a lot of those. Kanye West had already been burning bridges in the music industry. Getting Out Our Dreams, LLC c/o Carroll, Guido & In fact, according to one of his recent Instagram posts, the Three Stripes offered to buy Ye out of his contract for $1 billion. Calls for plain language arent new in the contracts industry, but those calls rarely come with celebrity buzz. "And y'all still gave him contracts, documentaries, endorsements . Everybody go get it. 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. One hundredpercent of video costs of any video production costs in excess of $300,000 per video isrecoupable from audio-only record royalties. 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. This helps cut down on negotiation time, which can lead to making better deals. Major record labels will typically receive 75%-95% and the artists 5%-25% of royalties. Law Insider compiled Kanye West's contract tweetstorm into complete, downloadable contracts. Within the deal, Kanye was obligated to release six albums, inaddition tohis initial effort, TheCollege Dropout(2004), within a 12-month span. Ye says he wants his four children to own them. 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. Next came what he calls the music industrys biggest flop his only Interscope album, The X Factor. Is this part of the contract or are they saying this is a separate thing? He released his two Grammy-winning albums independently more than 20 years later, and he hasnt inquired about the recoupment on his first record in years. As lawyers and contract drafters trying to implement plain language, we have to find a way to do this while staying true to the contract. I AM ON MY KNEES THIS MORNING," he tweeted before dropping the proof. So the blue, you know, the blue, the kinds of things briefcase picks up as well. Found online, don't shoot the messenger. Found online, don't shoot the messenger. Its all made from events. Thats a sort of grey area, and I think its an important conversation to be had., Editors picks It is not uncommon for a label to take their cut, then take out expenses, and then pay the artist. The partnership was a nightmare for both Negrito and the label, he says. Kanye West is seen at a Donda listening event at Mercedes-Benz Stadium on July 22, 2021 in Atlanta, Georgia. Then you, Kanye, get your money. The 200 Greatest Singers of All Time There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. Almost no artists recoup so the system obviously doesnt work, but its tempting. So we know recouped doesnt mean the same thing. Wests contract could even be considered favorable among superstar contracts, with Universal heavily investing in Wests works, entertainment attorney Christiane Kinney says. If youre part of a team, just email us if youre in house or in a law firm. Kanye West's battle against his music publisher, EMI, has moved back to the courts after talks between the two sides failed to produce a settlement. 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. Maybe even my own lawyer is not really looking at the language from my point of view. The papers indicate that he started on a royalty deal frequently afforded to upcoming artists, which later evolved into a more artist-friendly pressing and distribution deal that gave Kanye more of the profits and bigger budgets as he became a superstar. See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. Musician Kanye West changed all that when he went to Twitter to complain about his many contracts with the recording industry. We get used to these things and then sometimes, theres a wakeup call.. Right. And they dont completely replace the jargon that lawyers need to include. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. He suggests focusing not on the necessary legal and industry terms but on clearly nonsensical or unnecessarily archaic sections. 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. Late last year, Kanye West took to Twitter to vent his frustration about complicated contract language. I want you to do me a quick favor. Why is a shift to plain language important? These are the documents that were talking about. Right. Whats your background? 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. Whats the principle here? 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. Advances are loans with 75% interest rates (or worse). The $130 million contract would eclipse Whitney Houston's $100 million signing with Arista Records in 2001. UMG is the parent company of Def Jam and West's G.O.O.D. 1990 Kanye's mother, Donda West, helps a then 13-year-old Kanye pay to cut his first record in a basement studio. Theres hidden costs in the ways deals are structured, and most artists dont have an understanding in how the recoupment works and its confusing. Im seeing a lot of these highlights. Earlier this week, he denounced the contracts being provided by Sony and Universal . 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. His. W aiting for a Kanye West album can be an excruciating, interminable experience. Royalty portals need to show (and do not now) Every song you delivered, Every store you are in, How many streams per song Income per song. So its cut down on negotiation time and led to better, you know, better deals. His call for transparency has brought the conversation of understandable language into a spotlight. And examples of a couple of companies tackling the issue. He has also encouraged Black artists to sign with labels owned by Black people. Well see you guys next time. 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. 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. 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 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. Were going to pay that to you. So those are those are the impediments. 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. Theres theres a counseling function in addition to a drafting function that seems to be really important that lawyers didnt do here. Money and Music must stay together. 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. One seems to be this issue of Ive got to check some legal boxes. The dates of the files range from 2005 to 2014. 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. So this is something later in the series, I imagine theres a back story, you know, tense, tense discussions about the money part. 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.". So from a record label standpoint at the moment, the split Kanye has above is in many cases flipped. 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 first agreement in the series was around the time PDF were new. 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. Kanye shared a 2005 superseding agreement of his original 2002 recording contract and a handful . You got a bunch on the left in a very short sentence on the right. 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. 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.. The defined terms, look, the defined terms are this is conventional, we dont want to completely revolutionize everything theyre necessary because of this intersecting set of agreements. Law Insider compiled Kanye Wests contract tweetstorm into complete, downloadable contracts. Epic spent a fortune making that Karmin album. West created his first Yeezy shoes with Nike in 2007, and then . Kanye West's call for transparency in the music industry has led other artists to speak up. Kanye West tweets Univeral Label Contract. Ye went from $6.6 billion to maybe $400 million. 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. Absolutely not. GOOD Music (stylized as G.O.O.D. Kenny Beats tweeted that something needs to change in the structure of the music industry to protect artists and specifically Black artists. And in a lengthy post on Instagram, Hit-Boy, whos produced platinum songs including Sicko Mode and N-s in Paris, said that multiple attorneys who have seen the deal he signed as a 19-year-old with Universal Music Publishing Group in the mid-2000s called it the worst publishing contract theyd ever seen. 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. Leveraging Scooter Braun's reputation and influence within the music and entertainment industries, Scooter Braun and the Scooter Braun Projects team work around the clock to put its clients in a position to make their dreams come true. Search the history of over 797 billion 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. You take expenses out and then people are sharing whats left. Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. 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. Uploaded by For Kanye's follow-up to TheCollege Dropout, which wasLate Registration, Roc-A-Fella gave him anadvance equal to the excess of $3.5 million over recording costs. Mike Whelan [00:17:34] Yeah, I like the phrase sufficient moneys. this summer, doesnt point the finger at any one entity or group for the nature of these deals. Kanye West vs. 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 theres this GE aviation series of rewritten contracts. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? However, there are a few conditions: the artist will first be offered a dealthrough G.O.O.D. mrbonesHOK He says the industry must holistically evaluate how to improve for any major changes to shift. 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. 25. 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. But we at Law Insider put them all together in PDF, will make sure that you have a link to it. Looking back, I've thought many times about what makes Kanye Kanye. 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. The split can be 80/20 in the artists favor. The rapper has put out nine albums over 17 years through Roc-a-Fella Records. Theres a lot we can do. For Kanye, his 15% royalty rate on wholesale for each sneaker sold has netted him roughly $150 million pre-tax annually. Most comprehensive library of legal defined terms on your mobile device. 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