When an artist signs a recording contract, there is usually a cash payment given to the artist. Reading your music industry contract is fundamental!!!
Nowadays, with so much information available on line and so many great books, like “ All You Know About the Music Business” (Donald Passman’s book) or my book, “ This Business of Urban Music” (Random House) both available on Amazon, etc., the artist and the parents have so many things available to help them understand a contract. Although the movie did not depict it at great length, it is doubtful that the NE parents really thoroughly read the contract or had the professional expertise to understand their contract. Most artists, if honest, will tell you that they never read their contract until they got a poor royalty statement or they decided they wanted to leave their label. An artist who does not hire an attorney and tries to represent himself, has a fool for a client. I always say “inspect what you expect”, meaning have an attorney inspect it, along with you, so it meets your expectations later. You have to have an attorney review, negotiate and draft the contract. And, obviously, NE being so very young that a contract is put before the five members of the group, and no where present is an attorney.
Parents Just Dont Understand (The Music Business)Īlthough there may have been an attorney involved, the movie seems to depict an anxiousness to get a contract.Understand Whether You Are Signed To A Label or Middle Man.Don’t Just Dance and Sing, Be A Songwriter.Starting out as childhood buddies from the projects of Boston, selling millions of records, to mega world-wide stardom as young adults, their financial result remained the same when their manager delivers a check for $1.67 to four hollering and angry moms, still struggling in the projects. We have all heard this story too many times, but hopefully, given the millions who watched this wonderful BET biopic, we can look at the Top 10 Music Business Things we learn from the New Edition Story: “Mike, you made the mistake all artists make when they first started out…,” then MCA Records executive Jheryl Busby sadly tells an angry New Edition Michael Bivins.
Jheryl BusbyĪTLANTA – While over 10 million people watched BET with a sense of pride and joy, witnessing the ups and downs of legendary group New Edition (NE), one thing stood out: we still have a long way to go in saving Black artists from self-destruction and financial struggles. “ You Didn’t Read Your Contracts!” –Record Exec.
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