*as of ‘5 SEPTEMBER 2023’*
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*OVERVIEW* —>
-a record label provides financial support for the ‘artist’ in exchange for a percentage of the artist’s total income”-
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(in the ‘music industry’, a 360 deal (from 360° deal) is a business relationship between an ‘artist’ and a ‘music industry company’)
(the company agrees to provide financial and other support for the ‘artist’, including direct advances as well as support in ‘marketing’, ‘promotion’, ‘touring’, and other areas)
(in turn, the ‘artist’ agrees to give the company a percentage of an increased number of their ‘revenue streams’, often including “sales of recorded music”, “live performances”, “publishing”, and more)
(this business arrangement is an alternative to the “traditional recording contract”)
(in a “360 deal”, a company typically provides support to an artist in more areas than covered by a ‘traditional recording contract’ on the condition of receiving a percentage of revenue from these additional areas)
(during the first decade of the ’21st century’, revenues from ‘recorded music’ fell dramatically and the profit margins traditionally associated with the ‘record industry’ disappeared)
(the ‘360 deal’ reflects the fact that much of a musician’s income now comes from sources other than ‘recorded music’, such as ‘live performance’ and ‘merchandise’)
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*👨🔬🕵️♀️🙇♀️*SKETCHES*🙇♂️👩🔬🕵️♂️*
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💕💝💖💓🖤💙🖤💙🖤💙🖤❤️💚💛🧡❣️💞💔💘❣️🧡💛💚❤️🖤💜🖤💙🖤💙🖤💗💖💝💘
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*🌈✨ *TABLE OF CONTENTS* ✨🌷*
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🔥🔥🔥🔥🔥🔥🔥*we won the war* 🔥🔥🔥🔥🔥🔥🔥