The Dark Truth Behind Record Deals That Will Leave You Speechless!

You've been releasing music, building your audience and growing your numbers on Spotify.

So when your hard work pays off and you are approached by a label, should you sign a record deal?

Today I'm going to discuss everything you need to consider before putting pen to paper.

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00:00 - Intro
01:45 - Leverage
05:59 - Example Deal
08:01 - Expenses
15:35 - Recoupment
19:24 - Will I Make Any Money?
21:17 - Is A Record Deal For Me?
27:00 - Where To Start?
31:27 - Conclusion
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Let's work together on your music.

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👇 ABOUT ME:
Hey! I’m Damian Keyes and I've worked with musicians every day of my life for the past 20 years. The internet is de ply untrusting understandably and here is my background so you can have the full picture.

When I was 18, I was signed to a major label and at 23 I co-founded a Music University in Europe called BIMM (valued at $300M). I’m also a bass player, I’ve played for a number of artists including Eric Clapton, Alanis Morrisette and Billy Cobham. I initially retired at 30, but realised that life gets boring if you’re not building!

I have always been in-between the music industry and education which is how I ended up building my YouTube channel - I’ve been teaching artists how to release music long before it was a ‘niche’! I now educate artists around the world with my Academy, YouTube channel and Social Agency.

It’s great to meet you and looking forward to working together on your music!

[BrysonGrayMusic]

I’m 40 seconds in and I want to say this. I’ve had deals before and I will NEVER SIGN A LABEL DEAL.

[redcurrantrecords]

Most change their mind when a big label comes knocking, it can be very hard to refuse.

[Fablebox]

Great video Damian! I agree, it all depends on what is being offered. However, as an independent artist, I am not looking for a deal. I already operate as if I am already signed. I write the songs, hire the producer, the band, the marketing team, ect. What I can’t afford, I learn and do myself. It takes time to build it, but once you do….. it is so worth it. If a deal present’s itself, then we can discuss. But I am not waiting for one.

[EDP_beats]

Love this!! Could you make a video about Publishing Deals as well?? Much love from Hawaii! 🤙

[LlingsworthMusic]

This is a wonderfully informative video. Signing with a major label is very complicated. If I was offered a contract, I would look for a good show business attorney that I can trust. I met an Artist who had a nervous breakdown due to a bad contract with a major record company, so I would proceed with caution before signing a contract.

[Staykool]

Damian, you consistently give sound and very wise counsel. I love your channel and your advice however I will push back on this one point. I can't speak for rock and country but when it comes to Hip Hop, Pop and R & B you don't need to spend all that money to make high quality productions. If you are a skilled producerY you can do all that stuff in house. You can use a good mastering website to master your song for $25. and nobody will be able tell the difference from the dude you spend $1, 000 to master. I have a really good guy who does my mixes and he charges me $350. The song production costs on some genres does not have to be that high. HOWEVER, you are SPOT ON with regard to tour support, That is the gorilla in the room. You do a wonderful job on this channel and you save me lots of time and money with your expert advice. Thank you sir.

[JoelBryantMusic]

I would never rule out a label deal because there is lots to gain from it as an artist you receive a whole different level of networking opportunities to grow your brand.
I think the biggest key is not being afraid to go for those negotiations and push for the type of deal you want. Obviously have an entertainment lawyer looking over the contract with you and helping you negotiate.

[GreggOliverBass]

As you say, it is a deal and a deal is negotiated. the important thing to ask, and if you're going at this without an attorney they should ask it, is "How does my commitment change over time?". Because this is a fluid situation; if you are selling, more opportunities are coming your way and taking advantage of those usually requires some kind of upfront cost, and since you didn't know they were coming you didn't budget for them out of your initial advance (loan), so you will need additional money - this is the potential "spiral of doom" or "spiral of fortune" that makes this a case by case question.. The other thing you have to know before you sign is "where are the waypoints?". that is, when am i allowed to say "enough - i don't want to incur any more debt i want to cut my losses now" and either go back to being an indie (hopefully with a bigger audience if you got that far), shop for a different label, or get a day job.

[dowellkidd]

Bilmuri is great at social media and getting new music out constantly which has really shown recently. Worth checking him out as another example 🙂

[jacobdeanmusic]

Please make more content like this now and again, it gives a great insight into your mind and perspectives so I feel we get a much more full picture of where we should be heading.

[TwistedIllusionUK]

Great video Damo. The whole rhetoric of labels being redundant is just patently wrong. They are still immensely powerful. It's not right for everyone but absolutely should be given the thoughtful consideration it deserves.

[rosamaaninka]

I’m so grateful for your advice ❤ you are like big brother who really loves and cares for.. I don’t know how to thank you enough ❤

[panagope]

Damian Keyes, your videos are Ecxellent value, deep information that you dont really find elsewhere. Thank you very much.

[tummablues]

Best thing I've seen... Thank you.... I make a lot of music, I make videos, and have a lot of fun... I work full time, and have a situation that means I couldn't tour, but it is nice to know the ins and outs of a serious deal offer... It is as I expected, maybe when I retire I will have time to do something serious... Always enjoyed your content, thank you again, invaluable advice!

[codeeye]

that was really informative, I was just thinking that this was right mindset to have but here I'm enlightened

[thandokumalo]

"your soul" I'm on the floor 🤣🤣

[SoraiaLMotta]

Thank you Damien. It makes more sense to be a full creative then just an interpreter to be a full time musician. In contrast with my visual arts background where being signed is more stable.

[SonCorridosChakalosos]

Really good video thanks for sharing 🙏

[NickStix]

I've been watching your videos since before I started making music. I definitely think now YouTube is where the money is. they pay you literally 10 times more than spotify. so I would invest money from a deal to make a dope music video and try to get 100 million views

[ellmango]

I have 250+ songs recorded, so i would sign a record deal on 13 of them or 13-40 of them and use the advances to put the afterburners on full blast for the entire rest of my discog. The money would go to eating super healthy food in a beautiful place to live nearby to a thriving scene where i would hopefully be plugged into the schedules with venues so that i could cut my teeth on stage. Id shoot for 1 song every 2 weeks as a steady funnel and i would employ help for social media but direct it, basically i just need more hands and the $ to build a community and have things to share and film that go beyond pointing the camera at myself and doing my thing.