章節 480: Putting everything in one basket
George Slender.
Renly's knowledge of him was quite limited. He had never inquired about George's personal life or learned about his past achievements. All he knew was that George was a producer who had once created numerous brilliant works but had later retired. George's dedication and passion for music burned with the intensity of a moth drawn to a flame, and Renly greatly admired him for it.
In George, Renly saw the relentless pursuit and fiery passion that consumed a lifetime in the pursuit of one's dreams. George wasn't a young, freshly minted member of society driven solely by the eagerness to achieve self-worth or to chase after dreams of freedom. He was well into his sixties, had experienced countless trials and tribulations, yet still possessed the heart of an innocent child. He had dedicated his entire life to the music he loved, burning his essence.
Such a craftsman was truly worthy of respect.
Even Renly wouldn't dare to claim that, thirty years from now, he could maintain the same passion for acting as he did now. A lifetime commitment was too distant and too heavy.
When he had decided to produce this album, Renly had already felt George's sincerity. "It's all about the music," that was George's promise. Disregarding commercial considerations and market demands, he aimed to return to the essence of music itself, creating a pure, unadulterated, and heartfelt album.
However, when Renly finally heard Matthew explain the terms of the contract, his heart surged with waves of shock. George had essentially handed over all the decision-making power regarding artistic creation to Renly. In other words, he had given Renly the complete right to craft an album according to his own vision.
In the realm of film, such a scenario was entirely impossible because the producer was the supreme authority on the entire production and held the ultimate veto power. However, in the realm of music, the singer was the soul of the entire album, endowing them with the final say. But this right was not something everyone could possess.
Even top-tier singers like Justin Timberlake, Beyoncé, Madonna, Mariah Carey, and Bruno Mars had to roll in the industry for many years, build a solid fan base, and have their artistic styles acknowledged before record companies would be willing to relinquish control. Otherwise, the record company would still hold the decisive power.
Now, George had boldly entrusted all rights to the fledgling Renly. Such audacity, decisiveness, and firm resolve were not only astonishing but also highly commendable. Compared to Drake Doremus in "Like Crazy", George's all-in gamble was even more dominant and truly moving.
As Renly recalled their conversation today, they had merely exchanged a few words without delving into the details. Who would have thought that beneath those casual words lay such earth-shattering content?
Holding the glass of lemon water in his hand, Renly became lost in thought for a moment.
Matthew had almost zero knowledge of the entertainment industry, but as a lawyer and an ordinary person, he understood the significance of this contract. He couldn't help but smirk and jest, "If I didn't know you, I'd think you definitely got this contract through some kind of unspoken rule, maybe even as someone's sugar daddy."
A hint of amusement danced in Renly's eyes as he replied nonchalantly, "If being someone's sugar daddy can get you a deal like this, it's undoubtedly a fantastic transaction."
Matthew chuckled, conceding that Renly had a point. And this wasn't even the entirety of the contract.
"George has explicitly stated in the contract that you will receive 15% of the royalties from this album, and his income will be 25% of the royalties you receive. In addition, the budget for the album is $150,000," Matthew placed the contract on the table, his eyes revealing a hint of astonishment. "I don't know where this level stands in the industry, but I do know that if he isn't your sugar daddy, then he's a madman."
Renly didn't respond immediately. He raised the glass of lemon water, took a sip, and settled his surging emotions. Then he smiled gently and said, "He is indeed a madman who's willing to go to any lengths for the sake of music."
As for the profit-sharing model for the album, Renly wasn't surprised. George had already discussed it with Andy Rogers before. Andy was a professional film agent who had only a superficial understanding of the music industry, but before negotiations, he had delved into the current market conditions and completed all the discussions.
Renly remembered Andy's comment at the time, "He's too sincere. I felt bad about trying to raise the price any further. If every negotiation were this easy, I'd be out of a job. You could handle all the contract work yourself."
In a sense, the process of making an album was similar to making a movie.
In the first stage, the production company allocated a budget, established a project, and handed it to a producer to kickstart production.
In the second stage, the producer sought out directors, actors, screenwriters, and the entire production team, using the budget to start filming until the work was completed.
In the third stage, the production company sought a distribution company, signed contracts, and had the distribution company contact theaters, formulate promotion and distribution strategies, and then released the film.
In the fourth stage, box office results were tallied, and the income was divided among the production company, production team, distribution company, and theaters.
In the fifth stage, the production company explored the ancillary value of the work.
Broadly speaking, this was how films were produced, and albums followed a similar pattern, with the production company being replaced by a record label. However, there was a difference between albums and films in the second stage.
After signing the contract and before producing the record, the record label would allocate a budget, but this budget was not for the producer; it was for the artist.
This money wasn't a signing bonus; it was called an advance, which could be considered part of the signing bonus. It was entirely the artist's income, and they could freely allocate it.
However, in reality, this so-called "freedom" had its conditions. Because this advance was not only the artist's living expenses before they started earning money from the album but also the budget for producing the album. In other words, the entire team responsible for making the album was assembled and funded by the artist themselves.
During the process of producing an album, an artist first needed to find a suitable producer. Then, they would assemble a recording team, including sound engineers, instrumentalists, and arrangers, among others. Following that, they would rent a recording studio and commence formal recording work. Finally, mixing and post-production would need to be completed.
All the expenses for this entire process were covered by the advance payment. Of course, for new artists, the record label would usually arrange the entire production team, but the costs were still borne by the artist.
Generally, producing an ordinary pop music album would cost around $200,000 to $300,000. This was just the basic expenditure, not including the costs of collaborating with top-tier artists, shooting music videos, insurance, and unexpected expenses.
In the current music market, which was in a slump, record labels were no longer as generous as they used to be when paying advance payments to artists. For new artists, it was typically below $350,000, mid-tier artists received between $350,000 and $500,000, and only top-tier superstars could get $500,000.
In today's market environment, the cost of making an album was almost impossible to go any higher. However, there were exceptions. If someone like Beyoncé, for example, wanted to create an album that cost more than $500,000, the record label, after careful consideration, might agree but would disburse the funds in installments. They would release the first installment, and after it was used up, they would continue to allocate the budget.
But what if the production cost of the album exceeded the approved advance payment amount?
In that case, the record label would pay a second and even a third advance payment until the album production was complete. The difference was that the first payment belonged entirely to the artist, meaning it didn't need to be repaid in the future. However, subsequent payments were different. After the album was released, the record label would deduct the corresponding amount from the artist's income.
So, many new artists, after signing their first record contract, would go on lavish spending sprees, buying luxury cars, partying, drinking, using drugs, and squandering their money, only to find themselves quickly in debt.
Renly was currently producing the album "Don Quixote", but the situation was slightly different. Due to the uniqueness of the album, George had not sought a record label for Renly. Consequently, they not only lacked the industry connections of a record label but also the financial support of an advance payment.
Instead, George was funding the production of this album entirely out of his own pocket, taking a massive gamble.
However, it was certain that once the album was recorded, George would seek a suitable record label and distribution company. After all, as independent individuals, they lacked the packaging channels, distribution channels, and promotional channels. Without them, the album would remain locked away on a computer, never to see the light of day.
When that time came, if a record label agreed to sign, they would pay an advance payment to Renly, which could be considered a signing bonus or used to cover the production costs. Renly would then use this advance payment to repay George for the album's production expenses.
But the problem was that this album had a unique style, and the reason for going independent was precisely because they were concerned that the mainstream market wouldn't appreciate it. If no record label was willing to sign, then the album would remain gathering dust in a warehouse, meaning George's investment would be lost completely.
Even if "Don Quixote" successfully signed with a record label, the risks George would bear went far beyond that. The album's production cost was only part of the equation before the third stage. In addition to this, there were royalty issues, and the contract followed the same pattern, placing all the risks squarely on George's shoulders!
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