As a professional musician, your ultimate goal is undoubtedly to get a recording contract with one of the big labels in the music industry. However, this can take some time, and you may find that your only option is to sign with a lesser-known label. This can be pretty worrying as there are many horror stories of musicians being ripped off or losing money because their contracts weren’t drawn up correctly.
Study the Small Print
Once you are presented with your contract, you need to study it carefully. Hopefully, the record label will be using contract management software which typically employs automated templates that are easy to follow. Precisely is one such company that provides tools to simplify the process of contract management. They have a solution for every industry and would be particularly suitable for a record label to monitor and control their contracts.
Check the Expiry Date
One thing to be aware of is that it would be unusual for a record label to offer a musician a lifetime contract. Typically, the initial contract would be for a specified period, such as one year. If the record company manages a lot of different artists, it would be helpful for them to set up Precisely’s smart reminder system. They would then be notified well in advance when a contract is coming up for renewal.
Insist on Privacy
As you become more famous in your career as a musician, you really don’t want any personal information contained in your contract to fall into the wrong hands. If your record label is using Precisely, you can be assured that all your details will be encrypted to the same high level of security as that used by banks and governments.
Obtaining a recording contract is your first step on the ladder to success.