you heard music industry's biggest buzzword, the 360 record deal? This
deal involves record labels earning a fraction of an artist's income
from every facet of their work - be it recording, publishing, or
performing. But record labels have reformatted the 360 deal into a more
comprehensive contract known as the 720 deal. Now, not only does an
artist's royalties come under the label's earnings, but also the income
earned by the artist's family members. Labels are believed to command at
least 25% of a family member's earnings and 75% of the artist’s own
income! Fueled by this new approach, record labels are keen on signing
larger groups, suggesting 2023 might be "the year of the big band".
#MusicIndustry #RecordDeals #360Deal #720Deal
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