1.0 Finding the Deal

1.1 The Team

Few wouldbe recording artists are lucky enough to find worthwhile recording contracts. There is no easy way to get a deal and the downturn in the record industry has exacerbated this problem. We would all like to think that talent is the main factor. But talent alone is not enough. Good luck plays a large part although, to some extent, a recording artist can help make his or her own luck. Nor is there any right or wrong way to go about finding a deal. Artists can rarely secure a deal on their own, if only because it is difficult for artists to sell themselves. The first aim is therefore to ensure that the right team of people is in place to support the artist.

1.2 The Manager

In most cases, an artist appoints a manager before obtaining his or her first record deal. Sometimes a manager, or someone else with contacts and experience, may agree to help secure a deal whilst not wishing to remain involved beyond that. In return that person may ask for a finder’s fee. This approach can be problematic. The strength of the overall team is important for the record company (more so now than before). In deciding whether or not to offer a deal the company wants to feel comfortable with the organisation of the recording project. In particular, the company must have confidence in the artist’s manager. So the record company may resist dealing with someone who is merely “shopping” a deal, with no intention of following through with continuing help and support. Sometimes a company will sign an artist without a manager. In most cases, though, the company would then try to ensure that a manager is put in place.

1.3 Agents

If the artist is gigging regularly, his booking agent may help to get a deal. However, the major booking agencies are reluctant to sign artists until they have a good live following. Often, this only happens once a record deal is in place.

1.4 Lawyers

A music business lawyer can sometimes help with getting a deal. Most lawyers are only of real help once a record company has shown some interest. There is a limit to what the lawyer is able to do in securing that interest in the first place. A specialist lawyer (like anybody else working in the industry) might manage to put a demo CD on the right desks at selected record companies. He might even ensure that the CD is given proper consideration. However, distributing demo CDs is rarely enough, on its own, to get a deal.

1.5 The Pitch

Every recording project is different. Even if it is not different, it must be presented as if it is. So a “story” must be developed around the particular project before this is “pitched” to record companies. The individual talent of the artist will always be the central feature of the story. There will be many other factors involved including the songs and perhaps the intended producer, and perhaps the past history of those involved in the project. The story takes time to develop.

1.6 Publishers

Assuming the artist writes some or all of his or her own material, there is the question of whether to sign a record deal or a publishing deal first. Some years ago, the conventional wisdom was that a record deal should be secured before a publishing deal. The theory was that the record deal would give extra value to the publishing rights. It is now more common for an artist to enter into a music publishing deal before a record deal (see chapter IV Part I para 2.0). Once a publisher is involved there is then one more member of the team who can give real help in securing the record deal. The existence of the publishing deal may give the record company added confidence.

1.7 Which Company?

Sometimes it never rains but it pours. When, finally, one record company shows interest others may follow. There is nothing more likely to awaken a record company’s interest in the artist than interest from another company. If the artist is lucky enough to have a choice between companies, how should he or she choose? Firstly, look at the company’s current roster of artists. Consider whether those artists and their success (or otherwise) suggests that the company will properly understand and work effectively with the artist in question. On the other hand, an artist may want to avoid a company which already has a similar artist competing in precisely the same field. This need not necessarily be a problem. However, artists must compete with others on their label for limited marketing and promotion budgets.

1.8 Individual Executives

Don’t set too much store by a company’s past successes. All major companies have labels of which they are rightly proud. An artist should concentrate on the label’s recent track record rather than its historic success. Look carefully at the current MD, head of A&R (and any other significant A&R staff) and head of marketing. Talk to them about their careers; what they have done and what they still hope to achieve. Remember, however, that record company executives are not generally known for their loyalty. Artists may have to sign a multiple album deal but key executives change jobs frequently. Financial considerations will affect any choice. If competing deals are roughly comparable in financial terms the deciding factor should normally be the level of enthusiasm shown. You cannot always be sure that a company is as enthusiastic as it seems. The amount of money offered is a good indication of enthusiasm, but it is only one indication. Despite the risk of key executives leaving to join another label, the most important factor is the artist’s relationship with the person bringing in the deal. How experienced is that person? How much power does he or she have within the organisation? How much do you trust him or her to do all of the things promised?