By Olumide Adesida
To become successful and make it big in music business, musicians need the support of record label owners. However, most musicians hardly understand the full import of the recording contracts they sign.
Record labels are always interested in musicians who have built a strong following, and show that they have a future in the industry.
Musicians should also know that signing record deals must be done under the guidance of a seasoned entertainment lawyer, who has the knowledge of showbiz and entertainment business. However, before planning to sign a record deal, there are major things to look out for; they include:
Percentage: A vital segment to consider is the percentage, which basically means how much you get from every record sold by the recording company.
Promoter: In-house or retail promoters should also be considered. This shows how effective the firm is in terms of promoting the songs.
Publishing: Getting your attorney to protect as much of publishing royalties as possible. Royalty is the money due to singers and song writers, from record sales.
Advertising: The record deals should also provide budget for advertising the new songs.
Touring: Record deals should also make adequate financial provision for the musician to embark on promotional tours.
