Create a Deal Memo
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FIVE TOWNS COLLEGE – HOMEWORK ARTIFACT MUB 202
Music Business Contracts Professor Colfin – DEAL MEMO ARTIFACT
FIRST DRAFT DUE APRIL 30, 2020 – ON SCHOOLOGY
Your second draft, after being approved by me, will be posted to Passport
You are to write up a Deal Memo, in outline form, based upon the following facts. Read carefully – then follow the directions.
Joe Bob is a famous record Producer with clout. He is in conversations with ANYCO MEDIA, an independent production company, to produce a Recording Artist, for ANYCO MEDIA.
ANYCO MEDIA has recently signed the Treadmills, a punk rock band, to an exclusive recording agreement for the world. The band has asked that Joe Bob produce their debut album of ten songs. NOTE: This is NOT an agreement between the Treadmills and ANYCO. That agreement already exists.
ANYCO MEDIA is expecting to enter into a worldwide distribution agreement with Universal Distribution for manufacturing and distribution of compact discs, digital distribution, and licensing for synchronization in movies and television. How does that deal affect this deal between Joe Bob and ANYCO?
Joe Bob and the band will co-write AND co-produce at least two of the compositions to be recorded. What needs to be addressed?
Joe Bob also hires his own session musicians as a horns and rhythm section, and vocalists. He brings his own engineer. The record company will choose the songs and the studio.
Put yourself in the shoes of ANYCO MEDIA. Make up the specific proposed clauses that ADDRESS THE FACTS included in my story. Start there, don’t end there.
Make up and Include the basic deal points and typical clauses which must be included in any proposed producer’s agreement, such as the producer’s fee and/or advances. How is the royalty rate determined and affected by co-producing and other factors? Discuss the recording procedure, minimum recording commitment, delivery, and company’s release commitment. What about the musical compositions? How is the producer’s deal with ANYCO affected by the contemplated distribution agreement with Universal? What else is there? Don’t stop there! BE THOROUGH!
Organize in NUMBERED OUTLINE FORM AND NORMAL ENGLISH LANGUAGE. Call or Write with any Questions to Prof. Colfin