chatsimple Could Prince Deal Signal Artist Power in Contract Negotiations?

Could Prince Deal Signal Artist Power in Contract Negotiations?

By: Barry Chase
: 3 Minutes to Read

Our NYC and Miami Entertainment Law Firm advises and represents clients in all legal matters related to music, sports, television/film, visual and literary works, modeling, online matters, and intellectual property.

Could Prince Deal Signal Artist Power in Contract Negotiations?

Over the past few decades, many fans here in Miami have enjoyed the music of Prince, from “Purple Rain” to “Musicology.” While it may not surprise many that the artist continues to create music, the terms of his new contract may have some wondering whether it signals a shift in how the industry and other entertainment contracts may be shaped in the future.

Near the end of May, Kobalt Music Group announced that they had agreed to a new contract with Prince to release his new music as well as other artists’ music produced by Prince. However, the bigger news is that as part of the deal, Prince will retain ownership and control of his work – an important factor in today’s growing internet music market. Typically, record labels have contracted to own or partially-own an artist’s music, which gave the companies the right to direct how the music gets used.

Because of this traditional approach to ownership, Prince’s new deal does not fit the mold of typical music and recording contracts. Prince certainly has had his fair share of negotiations, having once changed his name to only a symbol during a previous disagreement over his musical rights. Still, the fact that the artist was able to retain ownership shows the potential bargaining power of certain artists and may be an indication of a new approach to contractual agreements for those in entertainment.

Of course, not all artists come to the bargaining table with the sustained, successful career touted by Prince. There are many factors to consider when working on an entertainment contract, and understanding one’s strengths and weaknesses can go a long way to crafting the best possible contract. For example, an artist or group will need to consider where they are in their career – are they an unknown band or a re-emerging force – and whether the record company has already slipped its hand by promising certain things. Preparation is vital to obtaining a contract that benefits both parties, a lesson Prince must have undoubtedly learned in his many years in the business.

While the effect of Prince’s new deal may not be apparent at this time, those seeking music and recording contracts in Florida may want to take heed of his story to help ensure their needs – whether it be the retention of ownership or increased exposure – are met in the finalized contractual agreement. Either way before signing your agreement it is recommended that you have a music lawyer present to make sure you are getting the best deal.

Source: Reuters, “Prince reigns over own music releases in new deal,” Paul Casciato, May 20, 2013

Barry Chase

Barry Chase, Esq., Senior Partner at ChaseLawyers®, is a distinguished figure in the realm of sports and entertainment law, offering Harvard-level representation that is both cost-sensitive and exceptional. An honors graduate of Yale College (Phi Beta Kappa) and Harvard Law School, Chase's illustrious career commenced at a prominent Washington, D.C. law firm, now known as Wilmer Hale. Here, he honed his expertise in Communications and First Amendment law, representing media titans such as CBS, the Times-Mirror Company, and Time, Inc. in pivotal Federal Communications Commission (FCC) matters.

Comments are closed.

The entertainment industry can be a complicated field to navigate. As a trusted leader in Miami entertainment law, ChaseLawyers can help. With over 40 years of experience, Our Miami based lawyers have helped individuals in nearly every area of entertainment law in Miami, including sports, music, film, television, modeling, literature, and more. We understand the unique challenges you face as a creative, and we’re prepared to protect your interests.

As an artist in Miami, you must navigate the intricacies of copyright law, trademarks, contractual agreements, and much more. It is critical you choose a qualified Miami entertainment lawyer with expertise in the nuances of the entertainment world. ChaseLawyers has built a stellar reputation among our clientele for honest, professional representation that produces effective results. We have extensive experience in the unique legal elements you must navigate as an artist, and our attorneys can provide you with indispensable career advice and expertise over the course of your entertainment career.

When you work with ChaseLawyers, you are more than just a client. We care about your well-being and can provide essential advice on the issues you face in the Miami market, such as intellectual property issues, negotiating service agreements, publicity rights, and much more. We also have an extensive network of resources available for our clients to connect with, and those connections can enrich your career in countless ways. Our team understands the complex world of entertainment law and will take care of your legal needs so you can focus on doing what you do best—sharing your talent with the world!

When you’re ready to take the next step in your career, our Miami entertainment lawyers are ready to help you. We are passionate about helping creatives with all of their legal needs, and you won’t find a team more dedicated to your success in all of Miami. Contact us today to schedule your free consultation!