We got signed!

[doctorpunch]

So we signed a deal with a local record company: Terror Bomb Records. Small time, I know. This is pretty much the opportunity to expand the fanbase a 'lil and make a few bucks from it now.

Here's the skinny:
1 CD w/ option (must be an LP)
No advance
Free studio/engineering
Free Distribution through Amazon, CD Baby, iTunes
Possible distribution in local FYE's
50/50 net profit(after paying for cost of actually pressing the CD)
Management after option

I'm making $ to

[OmnitzGarima]

Originally Posted by doctorpunch

I'm making $ to

Very cool! Good luck!

And BTW, we all need to get laid.

[Yerf Dog]

Congrats! Very cool!!

[electracoyote]

Congratulations!

Here's the part you had better keep your eye on:

Originally Posted by doctorpunch

50/50 net profit(after paying for cost of actually pressing the CD)

Time to read up on the legalese of the music business, you may be headed for even bigger things. Small label releases have led to some of the most lucrative recording deals in history.

[TRichardsbass]

Congrats on the deal, although don't plan on making much if anything. This is a typical deal. I'm pretty sure that they will factor in the cost of the studio and distribution into the cost of pressing the CD, so that is in fact an advance, just you don't get to dole out the money.

50/50 net is a pretty good deal if you actually make some significant deals.

Do they get a percentage of your merch or performance?

[ryco]

Don't give away your publishing. Maybe time to meet with a music lawyer.
At least think about it when renegotiating your contract!

But congrats!!

[MNAirHead]

Tell me they're not selecting their own studio -- stink written all over it.l

[thomashawk]

Congrats! I've been in this business for 20 years, and I'm not sure what "management after option" means; please elaborate.

[cbass1]

Originally Posted by TRichardsbass

I'm pretty sure that they will factor in the cost of the studio and distribution into the cost of pressing the CD, so that is in fact an advance, just you don't get to dole out the money.

Exactly, just make sure when it says free that those perks are not recoupable at a later date, i.e mixed into management fees, cd press and dist fees etc, i have seen that before.

Congrats man, legal advice is always worth it.

[thomashawk]

Originally Posted by cbass1

...i.e mixed into management fees, cd press and dist fees etc, i have seen that before.

Congrats man, legal advice is always worth it.

Yea, mgmt fees/arrangements have NOTHING to do with record contracts. You want your record company as your manager as much as you want BP responsible for safety regulations on oil rigs.

[Warfender]

Make sure if there is an option for the Lable to sell you that you can renegotiate contract with new lablel.

[pbass2]

Congrats!
It's a great feeling when somebody is willing to invest time and money into your music (other than yourself!)

Curious, what exactly are they going to do other than the things you list? For example, distro in iTunes, etc. etc. is super cheap--just take a look at Tunecore.com.
Have they mapped out plans for actual promotion, touring?
I also don't know what "management after option" means--that's a new one.

You really must get an entertainment attny to look everything over---seriously. There are guys out there who work with indie bands all the time and are very affordable. Make it a regular part of your routine, whether it's a recording contract, license of a song for TV, etc.--you name it. You won't regret it and will learn a ton from it.

And yeah, publishing--don't just sign that away hastily. I assume they want 50% of that?

[colcifer]

Congrats.

But, don't get cocky, don't count your chickens, and don't trust anybody you didn't hire yourself. This could be your big break but most likely they've got you guys bent over.

Best of luck though!

[Edward G.]

Distribution and promotion are EVERYTHING. Otherwise, there's no one to see your shows, which is where a band's real money is. View a record company as an advertising agency, and judge it by how well it boosts your band's visibilty and gross receipts.

[OPBASSMAN1994]

Congratulations man! Band name? Tracks I should look out for? Equipment, and maybe a deal as an opener? No, I'm just kidding man, but I would like to hear your stuff, and know what you use. Good luck in the "real world" of music!

[pnut166]

Congrats ! However, what are they doing on the promo side? That is, IMO, the most critical part of a deal. Just pressing a disc and stocking it on shelves or listing it on Amazon isn`t enough. Trade mag ads? Tv / radio promos ? Internet / website advertising? Touring / gigs ? Success for most bands hinge on these things. Many great bands that produce great albums die because of lack of promo. But good luck - I`m jealous !

[varunkapahi]

congrats!

[strozey]

congrats and good luck with everything

Free Distribution through Amazon, CD Baby, iTunes

FYI guys anybody can get on Itunes/amazon/myspace music etc using a site called tunecore.com, they'll place your music in multiple online stores for around a $50 fee

[doctorpunch]

TRichardsbass: The "net cost" is the cost of actually making the physical CD: i.e. the disc itself, burning it, making the booklet, jewel cases, etc. Recording is 100% free. They only get a percentage if they make the merch or book the show. March we release on our own and gigs we book come straight to us.

Ryco: We own publishing. We can record our free CD and walk if we want.

MNAirHead: They choose the studio, but I've seen it and it's immaculate.

thomashawk: They provide free management(i.e. some one to book more, better gigs and take care of all the non-music BS, and overall lackey I'm assuming) to artists if they sign on for more than one CD.

pbass: itunes, CDbaby, and Amazon digital distribution...free. Physical CDs sold through their website. We can sell as many as we want so long as it's not for less than what they sell it for.

pnut: Unfortunately there's no advertising AT THE MOMENT. They're "working on it." WE, however, kick ass at advertising and getting good shows.

Strozy: Free>$50

OPBASSMAN1994 and everyone interested in our music: KILLJOY! See sig, the Facebook is the best place to find up-to-date info. Also find us on Reverb Nation for new material.

Everyone: thanks for the congrats all around. Good folks you all are. All TBers are on the guest list if anyone ever wants to come to a show.

Keep in mind it's a small company that's just getting started. I in no way think that we "made it". I'm seeing this for what it is: a few bucks in pocket and a better chance at someone higher up finding us. They plainly said to us: There's no possible way the band can lose money. If the records sell, we make money and the label makes money. If it doesn't sell or if we're unhappy with what they have to offer, we walk with everything and they lose a lot of money.

We barely make enough money to pay for practice space rent, equipment upkeep, and touring. We constantly write and the music honestly sells itself so this is a HUGE step in trying to make it. After EVERY gig countless people ask us for merch and music and it sucks to say "we can't afford it" every single time. A bunch of kids at one show even offered to buy them in advance until we had the money. Once we build it, they WILL come.

If I can find a .PDF of the contract I'll post it.

[pedroims]

Congratulations... seems like a good deal , however I will be more worry to fully understand how THEY will make their profit. I dont think they are only thinking in the 50% of sold records. Im pretty sure that at least they are looking to recover the studio expenses plus a % as a profit