360 Deals are contractual arrangements in which record labels, or in some cases management companies, own the rights to all revenue created by an artist — often with very little or none left over for the artists or creators themselves. Lured in by large signing bonuses or surreptitious deals, scores of notable artists have sold millions of records, only to find themselves broke because they don’t own the rights to any of their music. The much-maligned practice of 360 deals is still in play by many major labels today, and has ruined the careers of many talented performers.
How >SingularDTV Does Better
In SingularDTV’s decentralized entertainment economy, it’s all about rights. Artists who launch their projects with SingularDTV maintain complete control of the rights to their music. When creators fundraise projects through Tokit, they tokenize the intellectual property. This empowers artists not just with agency over the rights to their artistic output, but the ability to fundraise with and share in the process with fans, providing a sustainable model for creation that cuts out the costly middleman of the record label entirely.
Artists Need Creative Control
When artists sign to a record label, they’re often signing the entirety of their creative output away to fit the whims of an organization that views them as an asset and operates with a bottom line mentality. There are thousands of examples over the decades of artists being locked into long-term, multi-record deals that don’t let them create outside of their contract, restricting them to releasing music that fits the agenda of the label itself. These deals often take years to work out of, resulting in a form of indentured work that no human being — let alone a cherished artist — should be forced to endure.
How >SingularDTV Does Better:
With control of intellectual property and a direct, symbiotic relationship with fans, there are no rules, censorships, or contracts to inhibit an artist’s creative freedom. Create the work you want, distribute it how you wish, and share with your fans. And it’s not just music! Projects launched on Tokit range from music to film, art, and even philanthropic organizations.
Source : https://medium.com/singulardtv/the-problem-with-record-labels-and-how-singulardtv-does-better-b223506c0c36Thanks you for read my article Why Artists Should Sell To Fans And Let Labels Sell To Consumers