Monday, July 9, 2018

Music Business/Law Tips - "Co-Publishing Agreement Deal Memo"

If an artist is entering into a co-publishing agreement with a music publisher, even though the actual formal contract might be between 10 and 50 pages long, all publishing deals generally boil down to just a few key issues which can be set forth in a Deal Memo to get the parties started. See below a sample Co-Publishing Agreement Deal Memo to give an idea of the points to focus on in this situation. Ben McLane Esq --->My new book "Music Business In 10 Easy Lessons" is now available for purchase on Amazon at the following link:\ *** CO-PUBLISHING DEAL MEMO Effective Date: ____________ This Deal Memo shall be between Songwriter ("X") and Publishing Company ("Y"). This Deal Memo shall be a binding agreement until superseded by a more formal agreement. The parties agree as follows: Terms 1. Term: Initial Period of 1 year, with 2 1 year options. 2. Territory: World. 3. Advance: 1st period ($50,000), 2nd period ($75,000), 3rd period ($100,000) 4. Copyright Split: 75/25 5. MDRC: Deliver 10 songs period, at least 5 have to be commercially exploited 6. Approvals: Pornography, religion, politics, product endorsement 7. Reversion: Any song that is not commercially exploited within 2 years post-Term shall revert 8. Demos: X shall retain rights to demos unless Y paid them. 9. Accounting: Y shall account to X 2 times a year 10. Expenses: Any expenses must be customary and verifiable The parties acknowledge that there is good and valuable consideration. ____________________________________ X ____________________________________ Y