If you are considering music as a career, maybe you are a singer, a songwriter or you love playing instruments, you will need to make sure you are going into it with your eyes wide open. It is well known that showbusiness can be cut throat, even on the smaller scale. Everyone wants to be the one to be discovered, to hit the big time, and they are willing to step over each other to get that dream. You need to make sure you have your back covered.
If you are lucky enough to become a well enough known act and you get an agent who wants to sign you then you should think about contract management software from precisely.se. You will potentially not only need contracts with an agent, but also with any venue you may be performing at, particulary if you are going to be doing a regular show.
Learning about royalties
If you manage to make a record that starts to sell, then you should be entitled to royalites on some scale. Even if you are not the main act, maybe simply providing backing vocals, or a musical bridge then you can expect some kind of payment for your artistic input. You may be paid a flat rate for your work, maybe £5,000 for the entire project, or £1,000 per day. if this is the case then once your part is over you are paid and you move on to the next project. However, if you are the main act or if it is stated in your contract, you are likely to receive royalties.
Royalities are payments you receive for each time your product sells. So if you agree 1%, that means you get £0.01 per every £1.00. It might seem a small amount, but if you go on to have a chart topper, then all those pennies soon add up. If you do not have a legally binding contract then you could end up losing out on so much in the future. Contract management software can help to alleviate any future issues, and secure your financial wellbeing for years to come.
You would be wise to learn about royalities and the different ways you will get paid, make sure you are paid not only for the products sole via a shop but also for downloads and streaming too. If your music is used in ads or as part of a soundtrack you want to make sure you are covered, and precisely.se might just be able to do that for you.