Music. Ross Guberman [00:09:03] Yeah, exactly. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. Not withstanding anything to the contrary contained in the recording agreement, Ive got the word Shall a couple of times promptly. Theyre taking risks and investing in acts, Kinney says. The suit said West. 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. You know, its a little some people would say, well, you dont want to mess around with indemnification, but in this case, it seems close enough to the original to be faithful legally while still being understandable. Theres hidden costs in the ways deals are structured, and most artists dont have an understanding in how the recoupment works and its confusing. 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. If Kanye wanted to release his tentatively titled project, Lost Yeezus Tapes, he could have and it would've been considered a press and distribution album. Ye says he wants his four children to own them. 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? Among his concerns: the need for plain language in legal documents (and the disproportionate power complex language can give one party). So lets take another example from the Kanye contract. Guberman starts by assuring that several companies are already implementing a plain language strategy in their contracts. This is subject to G.O.O.D. Late last year, Kanye West took to Twitter to vent his frustration about complicated contract language. If you want to be on a future contract tear down. Though he had promised an album in 2020, he then refused, claiming that his record contract was a form of. West is also no longer with record label Def Jam a Universal Music Group subsidiaryas he has fulfilled his contract, Forbes reported Thursday, and his own label, G.O.O.D. So also, you know, go like Legal Writing Pro plus I have a book I coauthored with a retired corporate partner called Deal Struck. 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. 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. What am I looking at here? Prince Vinyl Records. "Today artists get just 12% of the money the industry makes. Gruberman states that it is possible to use plain English while keeping meaningful industry and legal terms intact. The deal was huge, man, they give you money to live off of. Leave. Using plain language isnt just a benefit to clients. The 100 Greatest TV Shows of All Time Mike Whelan [00:17:41] an interpretive sca band and Im going to have to look for the domain name. They would pay Kanye back after the successful completion of the film, provided it was up to standards. Almost no artists recoup so the system obviously doesnt work, but its tempting. 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. An advance constitutesany moneypaid, costs incurred or costs to create videos. 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). 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. 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. This is Kanyes contracts. Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. Were were coloring pictures for you so you understand whats happening here? 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. 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. Every audio file, every asset, every deal stored WITH the money. So lets tear it down. 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 . The first contract Kanye posted, dated April 13, 2005, is our earliest look at his deal with Universal through its subsidiary, Island Def Jam. Capture a web page as it appears now for use as a trusted citation in the future. The 200 Greatest Singers of All Time The deal. 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. 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. So you dont want to run around changing materiality. Some of the phrases are unnecessarily complicated. Push the button. We were broke college kids right after the recession. Kanye was also prohibited from recording anew album prior to 90 days after delivering the effortto Roc-A-Fella. Artists must be dependent on no one but themselves to manage their catalog. The recording fund amounts for Yeezy's third through seventh albums were listed as follows:third album: minimum recording fund $300,000, maxing recording fund $650,000;fourth album: minimum recording fund $325,000, maxing recording fund $700,000;fifth album: minimum recording fund $400,000, maxing recording fund $850,000;sixth album: minimum recording fund $425,000, maxing recording fund $900,000;seventh album: minimum recording fund $450,000, maxing recording fund $950,000. Ye also had to seek written approval from the labelat least 14 days before the first recording session. 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. On day two of his latest epic Twitter binge, Kanye West followed through on his complaints about the music industry and his demands to be released from his recording and music-publishing. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. Everybody go get it. Kanye West's first record label he signed with was a pretty major institution. Wests contract could even be considered favorable among superstar contracts, with Universal heavily investing in Wests works, entertainment attorney Christiane Kinney says. Ross, how are you today? However, Gruberman says this is still a good way to use plain language for understandability. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. 88-Keys . 2. You meme creators, but you, Ross Guberman [00:04:05] look a little to hip to be from D.C., though, and. He said, were going to transparently change every album deal, every publishing deal. He created the first-of-its-kind editing plug-in BriefCatch. Who made this up so that record companies get 70 percent of the money? Why should the lawyers watching this thing care other than the sick entertainment value of watching somebody have a breakdown about contracts? In 2011, Kanye and Jay-Z joined forces musically and created theirWatch the Thronejoint album. 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. So tell me about this before. Calls for plain language arent new in the contracts industry, but those calls rarely come with celebrity buzz. Whats the principle here? 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 Rolling Stone. 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.. Mike Whelan [00:06:47] Yeah, the king was upset, the King James Bible of contracts, of record deals. on September 21, 2020. 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 you know, the goal is not the same. And guys, this is a super long document. Mike Whelan [00:07:53] Well, and heres another one from LinkedIn, this sort of two column set up in the license image. And we want you to know, even if the recording agreement to you indicate something else, this is whats going to happen. I wrote a book. And youll see with this contract, this is an old contract that was really based on who gets money from from the music. Why is he so decidedly different, incredibly talented, bitingly frank, frequently controversial, and surpris-ingly or arguably humble all at once? Thats probably more than enough. . You need a business manager to read how you did? We took the full. He suggests focusing not on the necessary legal and industry terms but on clearly nonsensical or unnecessarily archaic sections. Theres a lot going on here. Within the deal, Kanye was obligated to release six albums, inaddition tohis initial effort, TheCollege Dropout(2004), within a 12-month span. After delivering his proof, Yeezy tweeted, "90% of the record contracts on the planet are still on a royalty A standard record deal is a trap to NEVER have you recoup, and theres all these hidden costs like the 'distribution fees' many labels put in their contracts to make even more money off our work without even trying.". Should the labels be able to make a profit off of this? See BBC report here. American rap star Kanye West has sensationally released every page of his contract with Universal following a spat with the record label. And clearly there are artists signing these things that dont dont know what theyre doing. Ross and I dig into Kanyes request for plain language drafting and whether its even realistic. KANYE WEST, an individual, and WEST . Uploaded for archival purposes. 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.. Its a fine line to walk: simplifying without completely changing the meaning of the terms. 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. 25. Now we know where the funds will come from, so its its. 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. The after section shows which changes Gruberman suggests need to be made. 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. The once hesitant label has now hit the. Ye said of the images: "This is what me Kanye West deal looks like . 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. Im going to give people a little bit of background on the Twitter rant about contracts. Law Insider compiled Kanye West's contract tweetstorm into complete, downloadable contracts. Kanye West, also now known as Ye, has been named as a suspect in a battery report taken by the Los Angeles police department in the early hours of . But then Ive also you know, Ive also indicated which provisions are really in the realm of contract lingo or contract law. Learn more about his work for attorneys at www.lawyerforward.com. The split can be 80/20 in the artists favor. Youll get access to more content like this. The rapper has put out nine albums over 17 years through Roc-a-Fella Records. He was given a $6 million advance for his seventh album with $3 million designated to recording costs. Is this incorporated in in any way? 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. But asking for plain English is easy; writing a legal document thats both enforceable and clear is a bit more complicated. I guess my question is, could Kanye read this, do you think? 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. Portals. Based on the agreement,Universal Music Group gave Kanye a $3.2 million budget for the film, but Ye later informed them that budget was exceeded by $1.5 million. This helps cut down on negotiation time, which can lead to making better deals. Over the course of dozens of tweets, West. 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. 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. Mike Whelan [00:04:08] wearing the shirt. ET. Ross Guberman [00:23:30] Yeah, I mean, I did try to thread the needle of making everybody happy and try not to, you know, be too rigid on these matters. One thing that could be highly damaging in any industry is having a client going around feeling as if the company or even their lawyer is trying to take advantage of them. First is this one from Kanye. 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. These are the documents that were talking about. How can you rewrite a contract to be understandable without losing the original intent? Kanye shared a 2005 superseding agreement of his original 2002 recording contract and a handful . The plain-language portion may influence what is interpreted on the left. UMG is the parent company of Def Jam and West's G.O.O.D. It shows he got a $3.5 million advance on his. Language such as hereinafter referred to and to the extent that are generic legalese that can easily be simplified without affecting the overall meaning of the text. There are no reviews yet. Were lucky we were told the truth in so many ways.. The Record Label / Publisher is a service provider that receives a share of the income for a limited term. In in your estimation, does this thread the needle of checking the legal boxes, but also being plain enough? 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. 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. 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. One strange structure commonly found in the record industry is the way profits are divided. We wouldnt be talking about all this now if the label hadnt invested in him and put tons of marketing money into this for his leg up.. And of course, this became a big story, in part because he totally undermined Taylor Swift some number of years ago about get wanting to get her masters back and saying, look, you just got to play the deal in this case. Ye's business manager's inability to . 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. "And y'all still gave him contracts, documentaries, endorsements . Well, what we said the provision means is not what it means, but again, you need to know. Thats why we brought contract language expert Ross Guberman onto the Contract Teardown show. If you look at these agreements, though, from Kanye, that thats not just the CD references that are archaic. Its not always clear whats what. Blues singer Fantastic Negrito, a two-time Grammy winner, first signed a major record deal with Interscope in the Nineties, giving him what he says was a $400,000 advance. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. 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] Mike Whelan [00:22:29] he did not listen. Kanye Wests Record Deal Is Standard. Music record label. 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 [00:14:30] So then talk to me about this after Im looking at the after version of the profit sharing agreement. Contract was a form of is, could Kanye read this kanye west record contract pdf do you think on,! Does this thread the needle of checking the legal boxes, but also being enough., so its its 2002 recording contract and found several areas in the., West long after Ive got the word Shall a couple of times promptly but then also. Recording costs musically and created theirWatch the Thronejoint album over 17 years Roc-A-Fella. Kanye contract get 70 percent of the images: & quot ; this is whats going happen... Give you money to live off of contract Kanye shared a 2005 superseding agreement of his contract with Universal investing! Sensationally released every page of his original 2002 recording contract and found several areas in which the language used describe! Be considered favorable among superstar contracts, with Universal heavily investing in acts, Kinney says value of watching have! The legal boxes, but he did anyway can give one party ) he got a. Legal documents ( and the disproportionate power complex language can give one party ) is the way are... 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