This Business of Artist Management by Xavier M. Frascogna Jr

Author:Xavier M. Frascogna, Jr. [Frascogna, Xavier M.]
Language: eng
Format: epub
ISBN: 978-0-307-87499-3
Publisher: Clarkson Potter/Ten Speed
Published: 2011-10-19T00:00:00+00:00

The Advance Against Royalties Regardless of the approach employed, the bottom line is the same. The record company is only making an interest-free loan that will be recouped from the artist’s royalties, provided there is revenue earned from record sales. Only when the advance is recouped in full is the artist going to pocket any money in the form of royalties. In the unfortunate, but all too frequent event that the royalty revenue fails to “earn out” or to exceed the advance, the artist will not be expected to make up the deficit; the label takes a risk on that amount when it decides to sign the artist. The same is true of video production expenses and other recoupable amounts advanced by the label to the artist. While an interest-free loan has value, it still must be repaid if and when the artist is successful. Responsible managers and artists would do well to remember that fact when negotiating their deal, asking only for advances that are necessary to help launch the artist. Doing so definitely makes getting royalty statements a much more rewarding experience.

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