I have an Sound Recording Excluding all music and lyrics but including two other people i'd like to give 30% each to. How do I go about doing this.
I own the songs, I own the masters, I am the publisher as well. I need a contract that give them 30% each of the SR and I own 40% of the 100% but total 140% so I'm not sure how to set the contract up. I am unshure as to how this splits with the publisher ie me.
Hello, I will be assisting you.
Can, you please explain the rights that you own in the recording (I was not clear from the question)
OK..I own the recording studio where it was recorded, I am the songwriter and producer.
I own all the songs (Previously published)
But the SR
I added two musicians
they are instrumental in the creation of the SR
The recording itself.
I own all right now
I am also the publisher
In BMI I have two accounts...as songwriter 100%
and publisher 100%
how do I give them contractually 30% each?
of the publishing 100%
got it. Just t confirm you want to give them each, 30% of the particular SR
Assuming that you have the accounting means in place to figure out the sales and net profit you would enter into a Performers Rights Royalty Agreement with each one. If you are selling songs mostly through online stores then the accounting is straightforward (well, as straightforward as accounting gets...) but if you are actually distributing CDs then you need to account for return, breakage, promotional values etc.
basically it would be an agreement that would detail i) the method of computation of what is net profit, ii) what each gets iii) and when the musician gets paid
OK...well how do I do that?
Not sure. that's why I'm asking you.
Let me see if I can find a sample online
Awesome ...thank you!
the method of computation of what is net profit
I'm curious as the publisher, do I get 50 % of their 30%?
yes. Generally though musicians get much less than 30% that's why the numbers in your case would be skewed a bit
Here's a good comprehensive example (obviously you would need to edit the doc and custom tailor it for yourself)
So this is a recording contract, not a publishing contract.
you suggest I use this as a template?
This is not helpful. But thx any way.
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