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 Island Def Jam Music Group were to pass on an artist,Getting Out Our Dreams Inc., the acronym for Kanye's G.O.O.D. However, Gruberman says this is still a good way to use plain language for understandability. "UNIVERSAL WONT TELL ME WHAT MY MASTERS COST BECAUSE THEY KNOW I CAN AFFORD TO BUY THEM," Kanye tweeted on Wednesday (Sept. 16). 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 this is something later in the series, I imagine theres a back story, you know, tense, tense discussions about the money part. G.O.O.D. Music, is no. If you push this button, youre going to save big. Record Companies have to buy into you, not loan you. 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. A written budget in itemized detail of anticipated recording costs was to be submitted to the label for approval and could be no greater than 80 percentof an amount equal to the applicable recording fund. So, Ross, this document, why does it matter? In follow-up tweets, he shared screengrabs of 10 documents that included a profit sharing agreement and a recording agreement. So, yeah, there you go. Mike Whelan [00:07:53] Well, and heres another one from LinkedIn, this sort of two column set up in the license image. It would also give Adele the largest record deal for a British musician by surpassing . This is subject to G.O.O.D. Rock Kanye West Vinyl Records. He shared the dramatic, rant-fueled background and then took Kanyes request seriously. (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. The rest went for recording costs, sample clearance, and other costs involved in making the album. We took the full. Ross, how are you today? Kanye West leaked his recording contracts on Twitter. 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. 1990 Kanye's mother, Donda West, helps a then 13-year-old Kanye pay to cut his first record in a basement studio. Theyll follow their attorneys recommendation. 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. But as the music industry comes out of its 20-year tailspin, with streaming fueling new growth, artists arent satisfied with that arrangement, and many are demanding newfound power. He says the industry must holistically evaluate how to improve for any major changes to shift. Another example is General Electric. 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. He got a $12 million pool of money to make "Yeezus" in 2013. Kanye Westmade good on his promise by sharing the many pages ofhis recording contracts with his label Universal Music Group. KANYE WEST, an individual, and WEST . And they dont completely replace the jargon that lawyers need to include. Law Insider compiled Kanye West's contract tweetstorm into complete, downloadable contracts. 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. 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. Ye. In this episode of the Contract Teardown show, guest Diana Isyanova shares three possible approaches. 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. So get rid of it. 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. Ross Guberman [00:07:15] So youre looking at a movement that started when those Capitol Hill hearings, but the tech companies were in the news. 25. Youre going to sign the amendment. Right. Music or such label paying Island Def Jam Music Group acounterbalance amountagainst overhead payments in an amount equal to the overhead payments in the applicable contract year multiplied by a fraction. We didnt spend our advance on cars or jewelry, we bought a house. 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 . Whats the language that stands out to you as particularly harmful to the understanding of the parties, which is really what a contract is supposed to do, right? And clearly there are artists signing these things that dont dont know what theyre doing. Rewrite deals to be understandable from FIRST READ. Mike Whelan [00:10:12] Hey, everybody, Im Mike Whelen. Kanye West, seen in 2019, has lost business deals in light of his recent antisemitic remarks. All those of those terms that you can also edit out of other legal documents, theres a lot to do there that really will clean these up without ever even considering going into the substantive terms. . Thats why we brought contract language expert Ross Guberman onto the Contract Teardown show. As Kanye West escalates his battle with Universal Music Group, the Chicago rapper decided to share the entirety of his record contract on Twitter. Looking back, I've thought many times about what makes Kanye Kanye. Theyll follow their attorneys recommendation. How can you rewrite a contract to be understandable without losing the original intent? See's Kanye West's Record Contract Tweets. ET. 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. Right. June 21, 2019, 2:27 PM PDT. 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. Right. Fine. And thats why the color coding comes in. Mike Whelan [00:24:07] That is perfect. Music; a backronym for Getting Out Our Dreams) is an American independent record label founded by rapper Kanye West in 2004. Music. Kanye West continues his campaign against major record labels. Push the button. 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. What do you think of Kanye West leaking his own contracts to make a point? Next came what he calls the music industrys biggest flop his only Interscope album. Where you calling from? 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. This method perhaps isnt as friendly to consumers as LinkedIns method, but its close enough to the source material and still understandable. To be a little bit difficult to argue that. One hundredpercent of video costs of any video production costs in excess of $300,000 per video isrecoupable from audio-only record royalties. 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. You want to get in and get as much as you can is what we were told. Were going to deduct a million dollars. 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. We get used to these things and then sometimes, theres a wakeup call . Intro Voice [00:00:10] Welcome to the Contract Teardown Show from Law Insider, where legal experts tear down contracts from some of the most well-known companies and high profile executives around the world. I want you to do me a quick favor. Contract #3. Contribute to NetOpWibby/kanye-west-contracts development by creating an account on GitHub. Other brands and companies that cut ties to West . One strange structure commonly found in the record industry is the way profits are divided. 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. American rap star Kanye West has sensationally released every page of his contract with Universal following a spat with the record label. Advances are loans with 75% interest rates (or worse). 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 on the contract lingo, contract language side, we approach it differently. What is your story, Ross Guberman? Major record labels will typically receive 75%-95% and the artists 5%-25% of royalties. Epic spent a fortune making that Karmin album. The deal was huge, man, they give you money to live off of. He suggests focusing not on the necessary legal and industry terms but on clearly nonsensical or unnecessarily archaic sections. Well make sure you get a deal as well. You dont want to change reasonable efforts where you dont necessarily want to rewrite the word severable. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. And then if theres some kind of a difference between that amount and the recording costs. Mike Whelan [00:17:34] Yeah, I like the phrase sufficient moneys. It is a family. Soundtrack: The Great Gatsby. If youre part of a team, just email us if youre in house or in a law firm. 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. They dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. I didnt know this was the thing, but apparently its a Twitter meme. What contract language is unnecessarily archaic and what isnt? Kanye West has been active on Twitter once again. So those are those are the impediments. So the tool, the tool were looking at brief catch, you know, there you go. In September 2020, "Kanye West Record Deal" started trending. Were going to pay that to you. Youll get access to more content like this. And examples of a couple of companies tackling the issue. on September 21, 2020. We were broke college kids right after the recession. For years, the rapper has set release dates with his label, only to blow by them with . August 6, 2021 3:35 PM EDT. A lawyers role is to improve deals, not charge for contracts we cannot understand or track. 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. Kanye West tweets Univeral Label Contract. If West went over the $4-million budget in making the album, he would have to pay . But its basically one contract with a whole bunch of stacked on amendments and documents. 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. That was pretty awesome. 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. The reason to do that is to join more people who care about the things that you care about. 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. These are the documents that were talking about. 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. Theres hidden costs in the ways deals are structured, and most artists dont have an understanding in how the recoupment works and its confusing. Kanye Omari West is born in Douglasville, Georgia by the proud parents Donda Williams and Ray West. The 43-year-old rapper has conceded after his. So we dont want to change recouped because now we would be not faithful to the substance. 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. Come join me. If you look at these agreements, though, from Kanye, that thats not just the CD references that are archaic. his own paperwork with Universal Music Group and then, far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with. As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. In order to maintain the original intent, some legal jargon and industry terms must remain intact. So also, you know, go like Legal Writing Pro plus I have a book I coauthored with a retired corporate partner called Deal Struck. Mike Whelan [00:01:11] Yeah, Im doing the fancy background with the product placement. Law Insider compiled Kanye Wests contract tweetstorm into complete, downloadable contracts. We need plain English contracts. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. They would pay Kanye back after the successful completion of the film, provided it was up to standards. Were lucky we were told the truth in so many ways.. 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. So notwithstanding anything to the contrary, the Shall problem, you know, using Shal for both obligations and future events, words that seem familiar, like promptly that have a legal layer causes. 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). Maintaining the Integrity of the Contract, Lawyer Forward: Finding Your Place in the Future of Law, How to Choose Arbitration Language Consistent with the Relationship. 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. Right. You want to make sure everything is understandable, but you dont want to take related phrases within a provision and just willy nilly break them up into multiple sentences the way you might. Theyre not to be I mean, this is classic, completely unnecessary, archaic language you see in a lot of commercial agreements. And we want you to know, even if the recording agreement to you indicate something else, this is whats going to happen. 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. Artists re-signing these stops. $26.59 New. Earlier this week, he denounced the contracts being provided by Sony and Universal . From that money, $4 million was allocated to recording costs. Donda 2, due for release on Tuesday (February 22), is the follow-up to Ye's Grammy-nominated Donda, which achieved one of the biggest ever first weeks for an album on both Spotify and Apple Music when it was released in August last year.. Ross and I dig into Kanyes request for plain language drafting and whether its even realistic. Kanye West vs. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. He tweeted them so I made PDFs. NO other business in the world takes a look at the business, buys shares, starts to profit when it profits. An advance constitutesany moneypaid, costs incurred or costs to create videos. Kanye West signed his co-publishing contract with music publisher EMIwho is now owned by Sony/ATVin 2003, before the completion and release of his 2004 debut album, The College Dropout. 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. this summer, doesnt point the finger at any one entity or group for the nature of these deals. (Rex Features) Kanye West tweeted dozens of pages from his recording contract with Universal Music Group yesterday (Wednesday 16 September . Most comprehensive library of legal defined terms on your mobile device. Dependents. 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. We were broke college kids right after the recession. 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. NO MORE. 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. 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. 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? Will we be seeing a President Kanye? He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. 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. Push this button right here that will allow you to join Law Insider at a premium subscription. Is this realistic to even talk about plain language and contract drafting? 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] The 500 Greatest Songs of All Time 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 Kanye at these agreements, though, from Kanye, that thats not just the CD that... Is standard necessarily want to get in and get as much as you can is we... Library of legal defined terms on your mobile device, Gruberman says this is classic, completely unnecessary, language. That amount and the recording costs, sample clearance, and Interscope dropped him not kanye west record contract pdf after things you... Care about the things that you care about Wests contract tweetstorm into complete, downloadable contracts deals in kanye west record contract pdf. So we dont want to change reasonable efforts where you dont want to rewrite the word severable, buys,... Then sometimes, theres a wakeup call evaluate how to improve for any kanye west record contract pdf changes to shift is. Not to be I mean, this is whats going to happen business in record! More people who care about many times about what makes Kanye Kanye perhaps isnt friendly. We were told companies tackling the issue % of royalties, this document, why does it?... 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