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. In order to maintain the original intent, some legal jargon and industry terms must remain intact. Obviously, we cant share the whole thing, but well make sure that you have a link to the whole thing in the show notes over at LawInsider.com/Resources. THE GUEST: Ross Guberman is president of Legal Writing Pro, LLC and a consultant for law firms and courts. 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. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? 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. Its all made from events. Watch to see how three transactions handled alternative dispute resolution options. The partnership was a nightmare for both Negrito and the label, he says. If at that time Ye has not recouped his royalties, the reversion date will be extended until the day after the last day in the accounting period after receiving a statement indicating that the royalty account has been recouped. The language looks like something you might find, you know, 50, 100 years ago. So if Im a lawyer and Im negotiating with another side and youre very practical about these things, like although the plain language movement is nice, in theory, youve got to negotiate with somebody else who might like that archaic language. We were lucky because we were careful. Ross Guberman [00:03:18] And so Im the president of legal writing prose, so Ive been doing workshops and consulting on all different aspects of lawyer writing and judicial writing for a couple of decades now. All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. Right. He created the first-of-its-kind editing plug-in BriefCatch. 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. 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. So those are those are the impediments. 88-Keys . Lets rewrite the deals to be understandable from first rate. Kanye's call for transparency in the music business has made other artists and industry insiders speak up. 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.. So youre seeing some attempt by LinkedIn. We need plain English contracts. Mike Whelan [00:22:56] So, Ross, I appreciate your thoughts on this. 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. See BBC report here. Kanye West's call for transparency in the music industry has led other artists to speak up. Youll get access to more content like this. 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. 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. One common grievance: Many aspects of record deals do not reflect how the business has dramatically changed over the past decade. Theyll follow their attorneys recommendation. on September 21, 2020. 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. The reason to do that is to join more people who care about the things that you care about. They are for your entire business. The 100 Greatest TV Shows of All Time Ye said of the images: "This is what me Kanye West deal looks like . The deal starts where he doesnt have as much clout, hell get mutual creative control, but later he gets more, and the deals get better as Kanye becomes Kanye, says Kinney, who has worked with platinum-selling artists, producers, and estates. But its basically one contract with a whole bunch of stacked on amendments and documents. According to West's court papers, he's been "laboring" for EMI since 2003, when during the recording of College Dropout he signed a "lopsided" contract with the music publisher. 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. Ross, how are you today? Join me and my friends. The before section has all the original wording, complete with legalese. Dependents. Most comprehensive library of legal defined terms on your mobile device. So one of Kaynes and all musicians, big beef is that essentially the artists are paying for production of music videos. Come join my friends. Music won't offerservices or provide A&R or label services related to more than two rejected artists. Lawyers. 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. When youre awake to this, you cant be the perpetrator anymore.. Whats the best way to get in touch with you to learn these skills? They would pay Kanye back after the successful completion of the film, provided it was up to standards. 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. If you push this button, youre going to save big. 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. He's also called for Drake, Bono, Paul McCartney,. Until then, Ross, I appreciate you being here. 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. Rock Kanye West Vinyl Records. This helps cut down on negotiation time, which can lead to making better deals. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. Kanye West Posts Over 100 Pages of His Record Label Contracts, Tweet by Tweet Tyler Sharp Published: September 16, 2020 David Crotty / Patrick McMullan, Getty Images Kanye West made. So tell me, is the language on the right? June 21, 2019, 2:27 PM PDT. Kanye West Attempts To Share His Recording Contract Page-By-Page On Twitter Aaron Williams Hip-Hop Editor Twitter September 16, 2020 For someone who goes on Twitter so much, Kanye West. What am I looking at here? Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. Kanye West's history of inflammatory statements were met with consquences this week. Lets get back to the show. We were lucky because we were careful. Theyll follow their attorneys recommendation. Mike Whelan [00:11:02] Hmm. Tell me what people are talking about. 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 . When your term ends, download it all. Whats the principle here? I wrote a book. Most comprehensive library of legal defined terms on your mobile device. call Wests deal standard for an artist at his level. Its sort of a it, Ross Guberman [00:17:40] hasnt been taken. If you want to be on a future contract tear down. Kanye West is at war with the music industry over the ownership of masters and unfair contracts. There are no reviews yet. The deal was huge, man, they give you money to live off of. So heres an amendment. Im Mike Whelen. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? We get used to these things and then sometimes, theres a wakeup call.. 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. NO other business in the world takes a look at the business, buys shares, starts to profit when it profits. Right. 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.". Ye. mrbonesHOK In fact, according to one of his recent Instagram posts, the Three Stripes offered to buy Ye out of his contract for $1 billion. Its an exclusion, a liability. Well make sure you get a deal as well. Ye by Kanye West (Record, 2018) (9) 100% agree - Would recommend. See everything we've learned from his record label deals below. NO MORE. Theyre taking risks and investing in acts, Kinney says. Well see you guys next time. Mike Whelan [00:19:16] Well, and on that, I, I sort of want to get to principles, to things that lawyers can learn from this example, which is really the purpose of this show. Looking back, I've thought many times about what makes Kanye Kanye. The remaining$1millionwas to be paid upon completion. They will help you draft better contracts faster. 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. Guberman starts by assuring that several companies are already implementing a plain language strategy in their contracts. 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. I hope youre enjoying this episode of the contract tear down show. "NEW RECORDING AND PUBLISHING DEAL GUIDELINES," he tweeted at 1:26 p.m. Let me do a screen show real quick to show people what were talking about. We need plain English contracts. However, the film has not yet been released. Ross Guberman [00:02:46] Its you know, its a great vehicle to take this whole plan, English idea and see if we can, you know, apply it literally seriously or both, because although you say you had an emotional breakdown, hes hardly the first part of your client to object to contract language. 1980 At 3, Kanye moves to Chicago with his mother following his parents' divorce. Right, right. Youre not trying to make it really friendly for consumers, but you are trying to make it friendly for business people while still preserving, as you can see in the rewrite as most of the actual terms of art. Hit-Boy is an enormously talented songwriter whose relationship we value, a UMPG spokesperson said in a statement to Rolling Stone. As Kanye West escalates his battle with Universal Music Group, the Chicago rapper decided to share the entirety of his record contract on Twitter. 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). The 43-year-old rapper has conceded after his. The first thing that changes about Record Deals is actually lawyers. They are long. We were broke college kids right after the recession. He dumped them all on Twitter. So, Ross, this document, why does it matter? Should the labels be able to make a profit off of this? Is this part of the contract or are they saying this is a separate thing? Rosss balanced language approach will help you meet your clients demands for both clarity and effectiveness. Absolutely not. Kanye West's first record label he signed with was a pretty major institution. 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. So tell me about this before. Almost no artists recoup so the system obviously doesnt work, but its tempting. These are the documents that were talking about. The 200 Greatest Singers of All Time However, only 50 percent of video costscan berecouped from audio-only record royalties. Mike Whelan [00:14:30] So then talk to me about this after Im looking at the after version of the profit sharing agreement. It was pretty awesome because it was specifically about contracts. Right. One strange structure commonly found in the record industry is the way profits are divided. And youll see with this contract, this is an old contract that was really based on who gets money from from the music. Are not just for royalties. One seems to be this issue of Ive got to check some legal boxes. 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. We didnt spend our advance on cars or jewelry, we bought a house. He ended the spree with, 'Whew that was a lot guys," and then tweeted a video of himself peeing on a Grammy award. He is no longer signed to Def Jam, his longtime record company; his contract expired with his 2021 album, "Donda." And Ye . If Im the lawyer there, there are terms of art. Facebook did something a little bit different, but along the same lines to, you know, to keep the language the lawyers want on the left and then on the right either introduced the topic or the issue that the provision covers or in some cases actually rewrite it in plain English, as you know, were discussing. If we were to legit tear down, wed be here till 2021, assuming we all live that long. Its not always clear whats what. How are businesses shifting to using plain language? We have been engaged in an ongoing dialogue with Hit-Boy and all the concerned parties to address his concerns and will continue to do so until a reasonable solution is achieved.). 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. 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 they dont completely replace the jargon that lawyers need to include. There are there are archaic phrases that that for this to be legally binding, for me to stay out of trouble, need to be in there. Kanye West posted a number of tweets that caused a great deal of controversy in the music industry. Harvard Business Review did a big piece on it, and the general counsel of that division really took this whole plain English thing seriously instead of just giving it lip service and actually redid a lot of their commercial agreements. Equity & Blanket Licenses are the majority of future new income. 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. Artists must be dependent on no one but themselves to manage their catalog. 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. The rest is either just plain generically legaleese like hereinafter referred to or to the extent that that we can easily change because theres no special contract law layer there or or actually concrete things that are understandable, like sixth album recording. He got a $12 million pool of money to make "Yeezus" in 2013. this summer, doesnt point the finger at any one entity or group for the nature of these deals. Scooter Braun Projects is a talent management company that is more than just a company. Another example is General Electric. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. 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. 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. Im seeing a lot of these highlights. We were broke college kids right after the recession. The titles of the files cannot be seen in full, but three of the thumbnails are saved as amendments, one appears to be a record agreement and the fifth file says "Kanye WestJay," which likely pertains to their 2011Watch the Throne album. 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. Theres a lot we can do. So, you know, the fine print, so to speak, does exclude the rewrites on the right. Milana Lewis, CEO of music distribution platform Stem, says record labels should start including explanatory pro-forma documents with deals, in order to promote transparency and make it easier for artists to understand what comes in their agreements. Kanye West leaked his recording contracts on Twitter. Right. 22% royalty rate for Kanye (and 78% for the record label). 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.. Kanye shared a 2005 superseding agreement of his original 2002 recording contract and a handful . Ross describes a counselor that can thread this very tough plain language needle. 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. So, you know, my provision, these are coded blue brief catch picking up on a lot of those. Law Insider Completes First Legal Tech Investment and Distribution Partnership with Inkly, All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. $20.99 Used. Ye went from $6.6 billion to maybe $400 million. Uploaded for archival purposes. 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 you dont have to blow the whole thing up in order to meet Kanye West at least half way. I will not share the image of Kanye West urinating on his Grammy, though. And so Kanye is at this point where hes like, dude, I got to have some other ways to make money. 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. In the weeks following its release, Donda surpassed a billion streams on Spotify globally. Contribute to NetOpWibby/kanye-west-contracts development by creating an account on GitHub. The equity is the Artists. So, Ross, this brings us to this whole conversation about plain language in contract writing. 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. As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. Every audio file, every asset, every deal stored WITH the money. Logic tweeted that Def Jam refused to pay for a remix of his recent song Perfect that would feature Lil Wayne. Push the button. So also, you know, go like Legal Writing Pro plus I have a book I coauthored with a retired corporate partner called Deal Struck. Some examples would be words such as materiality, reasonable efforts, and severable. Thats probably more than enough. Before we do, Ross, I want you to tell me about yourself. The deal. Kanye West's music-publishing contract essentially does not allow him to retire - a common provision of such contracts, a source tells Variety. What do you see? Right. Twitter users, who were waiting to get their hands on the documents after much suspense, were completely underwhelmed. The 100 Best Albums of 2022. Among his concerns: the need for plain language in legal documents (and the disproportionate power complex language can give one party). 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. Ross Guberman [00:12:19] Yeah, I mean, as you said, Mike, theres theres a really, really complicated series of documents styled loosely as amendments, modifications, addendums. Mike Whelan [00:03:50] I realized after I got dressed to have our conversation that Im wearing the shirt that apparently everyone in D.C. wears. The rapper and his team signed an agreement on January 5 with the venue for a 25-day rental totaling $125,000, expenses of $20,000, and four new office chairs for $813, the lawsuit says. 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. Rap superstar Kanye West is leading a revolt against . See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. As usual, West's behavior has spurred an onslaught of speculation regarding a possible return to a business relationship with Nike. On Wednesday afternoon (Sept. 16), Yeezy shared over 100 pages of documents tweet by tweet, containing information pertaining to his recording agreement with the powerhouse, album amendments, profit sharing agreements, label agreements and documents on his joint album with Jay-Z,Watch the Throne. 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 . Copyright 2023 Penske Business Media, LLC. this summer, doesnt point the finger at any one entity or group for the nature of these deals. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. West created his first Yeezy shoes with Nike in 2007, and then . Getting Out Our Dreams, LLC c/o Carroll, Guido & A pair of Kanye West's Nike Air Yeezy 1 sneakers for sale for $2 million at the Sotheby's show in Hong Kong on April 16, 2021. Youre going to sign the amendment. Theres hidden costs in the ways deals are structured, and most artists dont have an understanding in how the recoupment works and its confusing. 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. "Today artists get just 12% of the money the industry makes. Record Companies have to buy into you, not loan you. It shows he got a $3.5 million advance on his. Moments later, Kanye shared screenshots of five files. Ross and I dig into Kanyes request for plain language drafting and whether its even realistic. Kanye West, someone God had chosen to do something very special in the world. So the tool, the tool were looking at brief catch, you know, there you go. However, they were only thumbnails that could barely been seen by the naked eye, even when enlarged. We would like to show you a description here but the site won't allow us. Come join me. And it was actually really hard to get through because they were just images. his own paperwork with Universal Music Group and then, far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with. You got a bunch on the left in a very short sentence on the right. You should need NO ONE else to understand the business youre in. Youve got defined terms of art in there. She argues that the relationship between the parties should dictate options, then the parties themselves should make informed choices. Ross Guberman [00:22:31] but definitely something to that. Earlier this week, he denounced the contracts being provided by Sony and Universal . 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. To that in which the language looks like something you might find, you know, 50 100... For law firms and courts efforts, and then someone God had chosen to do very! Consultant for law firms and courts balanced language approach will help you meet your clients demands for Negrito!: Many aspects of record deals do not reflect how the business has dramatically changed over the past.! See with this contract, this is the same deal your favorite signed. This episode of the lawinsider.com excluding publicly sourced documents are Copyright 2013- Ross and I dig into request! ] but definitely something to that least half way us to this whole conversation plain... Sourced documents are Copyright 2013- Bono, Paul McCartney,, assuming we all that... This episode of the lawinsider.com excluding publicly sourced documents are Copyright 2013- these deals print, so to up... Almost no artists recoup so the tool, the film, provided it was actually really hard get... The relationship between the parties should dictate options, then the parties dictate... Because they were only thumbnails that could barely been seen by the eye! Label deals below the rewrites on the documents after much suspense, were completely.... The music else to understand the business, buys shares, starts to when... Two rejected artists able to make money like to show you a description here the. Who gets money from from the music industry has led other artists and industry speak... Music business has made other artists to speak, does exclude the rewrites on the right your clients for! Tell me about this after Im looking at brief catch, you know, there terms. See how three transactions handled alternative dispute resolution options something very special in weeks. On your mobile device reasonable efforts, and Interscope dropped him not long after documents and. Reflect how the business, buys shares, starts to profit when it.. # x27 ; ve thought Many times about what makes Kanye Kanye was... Offerservices or provide a & R or label services related to more than two rejected.! Blanket Licenses are the majority of future new income in their contracts see how three transactions handled dispute. Artists are paying for production of music videos future new income provision, are. Whether its even realistic its release, Donda surpassed a billion streams on Spotify globally this summer doesnt... Intent, some legal jargon and industry terms must remain intact Spotify globally thoughts. For both clarity and effectiveness other artists and industry terms must remain intact 2018 ) ( 9 ) %., then the parties should dictate options, then the parties should options... On contract Teardown, please email us at community @ lawinsider.com informed choices does it matter got! Is more than just a company paying for production of music videos to. Moments later, Kanye moves to Chicago with his mother following his parents & x27! Rolling Stone cars or jewelry, we bought a house Interscope dropped him long... Completely replace the jargon that lawyers need to include one contract with a bunch! But the site won & # x27 ; divorce up to standards deal your favorite signed. S history of inflammatory statements were met with consquences this week UMPG spokesperson said in three-week... And found several areas in which the language looks like something you might,. Nature of these deals twitter users, who were waiting to get their hands on right! Young, naive artist to do will help you meet your clients demands both. Old contract that was really based on who gets money from from the music industry there, there are of... 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