Five Tips Every Artist Should Know Before Their First Deal for Signed Records

Knowing that people can make orders and having stock and shipping taken care of is a true blessing. However, just because a record label has shown the sort of interest in you that you think would be desirable, it doesn’t mean you should run with it. Here are five tips you want to add to your list of things to think about before you consider deals for signed records.

1. Artists Need a Solid Royalty Rate

There’s a lot that goes into the royalty discussion such as your reputation and popularity. While unknown artists may be lucky to secure 10%, others in the professional space can hit near the 10% mark. Even if you need help from a legal professional, be aware of what you’re agreeing to and if the proportion is fair.

2. Don’t Subscribe to the Notion of Waiting Until Termination to Think About It

One of the mental items to keep at the fore is that of termination. Sure, no one wants to think about the end of the “good times” but you need to in this kind of industry where things can turn on a dime.

If you’re a group, a split could happen. Alternatively, the contract can end or be terminated prematurely. What then? Allow the reason you started to fuel your passion and strategize.

3. Before You Start to Work on That Collection, Hire Legal Counsel

Having your legal affairs in order should be a priority in any kind of binding contractual situation. These are people who have made it their life’s work to understand the nuances of the law, which makes them the best option to help keep you safe from predatory and other unwanted clauses.

4. You’ll Want to Save Yourself By Heading a Release Commitment

If you want to be guaranteed that the stock, production, and shipping elements of your records will be taken care of, you’ll want a release commitment that at least necessitates one album during the contract term. If that isn’t honored, then the agreement needs to allow you to walk.

5. Maintain a Negotiation Mindset

Understand that the other side will try to secure benefits and save itself. Just assume honesty and integrity isn’t automatic. That means you need to speak up for what you think you are worth and let your legal counsel advise you on the parts you may not be so familiar with. On that note, ensure you are the one who hires your attorney.

Final Remarks

The idea of a signed record deal can be exciting, but you need to think thoroughly before running with it. Allow the five tips above to guide your decisions.