A Legal Roadmap Guide to Making Money Music in the Music Industry.
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Making Money Music: Always use contracts. Use split sheets on your written work and production agreements on music that you make. The split sheet has the names of everybody who contributed to the writing and the percentage of contribution. Not all deals are going to be standard so customize/modify all contacts per work. Basically fit your production agreement with the production situation baby!
As far as publishing goes you can get 3 to 5 percent of the price the record. Remember all fees and advances, recording/studio costs and your other footed expenses are deducted. If you are new to the game ask for at least 3 percent then start increasing. Get a producer’s advance which is always negotiable.
Work on spec to increase your monetary take. Spec is… If you pay for your own studio time you will only get paid if the studio uses the track. You can then increase your fee and royalty percentage base on your out put and merit
Sell beats to start then build complete tracks through writing (try writing the whole song yourself to increase your cash). Do recordings for commercials. Try redoing your songs with G rated kid appropriate lyrics. You can do music for TV, films and ring tones. You want to tie up all your legal ends so that when your music becomes popular you can get the money that is right fully yours.
Copyright and put your name on all of the digitized audio so it is clear that this is your work. Make it hard for the beat jackers… They gotta eat too so they’ll still rip of your work but you know…
Always check on your business every step of the way, especially those first strands of success. They will be a good indication of what lies ahead. Not everybody that comes around is good for you. Get people around that can deal with the day to day administrative stuff so that you can just do what you do best and that’s making money music my yute.