Start A Label & Types of Record Deals
Sunday, August 17, 2008
, Posted by Anonymous at 11:08 AM
– To make your business legal, look in the business section of the phonebook for business license officer or treasurer. Have them mail the license to you and remember you are a wholesale company run out of a private home or facility. Non-profit means you don’t plan on money being any focus of the label. Corporation means you will personally take no loss financially. Sole proprietorship means one person is responsible financially for everything. Partnership is equal responsibility. Then go to an IRS office and apply for a Tax ID number. With this you are responsible for taxes unless you can show a loss. An accountant should be hired when you make profit.
TYPES OF RECORD DEALS
– Through a distribution deal or pressing and distribution deal an indie can be signed to an indie yet have a major label press and distribute the album for a cut of the profit.
– A production deal is for indie producers and production companie to develop talent and offer their artist to a major label, but get a cut of profit from sales.
– A major label deal is a deal through either Sony, Universal, BMG, EMI or WEA. You will be promoted with more money and very heavily and most likely sell more, but the artist will receive a very minor percent of profit. Majors are professional when it comes to advertising, financing, legal, merchandising, promoting, sales, shipping factors of an album.
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