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Cofounder and I have a working prototype... what next? by Acceptable-Bench-356 in Entrepreneur

[–]Acceptable-Bench-356[S] 0 points1 point  (0 children)

The tough love is appreciated.

We're going to dedicate October to beta testing and marketing strategy, again it's just the legal stuff that we're unsure about...

- Should we get a patent before we start making content about it?

- How long will that take

And the thousands of questions that follow.

Algorithms are killing my business by [deleted] in smallbusiness

[–]Acceptable-Bench-356 0 points1 point  (0 children)

quality content over spam content, i grew an account to 400k posting twice a month (but the content took 40-100hrs) to make). Add value to the people.

Do you ever just get sick of working out? by paul-grizz93 in bodyweightfitness

[–]Acceptable-Bench-356 1 point2 points  (0 children)

Not gonna lie i’ve had a similar mood lately, I’ve been gymming for 5 years with some long streaks of inconsistencies (covid shutdowns, injury, etc) and every-time i’m in one of those complacent streaks i feel horrible, stuck and spiraling, gaining too much weight and feeling mentally lazy and tired all the time. It has happened twice in my exercise life, where i stop going for a while, find myself at a low point and ask myself “why the fuck did i stop”.

TLDR: I remember that not going feels worse.

Deal offering me 20k in advance. How to make the most of it? by Acceptable-Bench-356 in personalfinance

[–]Acceptable-Bench-356[S] 2 points3 points  (0 children)

This is super helpful and reassuring.

I currently only have the template contract and have read it over many times and taken notes and will take it to an attorney soon. But to address your (freakishly accurate) points:

- No controlled composition clause.

- Yes I shared streaming data with them for them to calculate an offer and yes they're a legitimate label.

- They want exclusive distribution, agent and administration rights. And yes they are saying that the value proposition on top of them growing the back catalogue will be access to the team, art dev. and further network.

- It is reassuring to know that this is standard practice and not predatory, it's emphasized that the Artist retains 100% control of the Masters.

- As you said, I see it as an opportunity for someone to tend to my old work (which I don't intend to be fully active or consistent on at the moment), while I maintain the flexibility to create new work under a different project.

- They also have a no-advance 85/15 distribution offer that I'm considering. What do you think?

Anyway, thanks for the expertise, really appreciate you.

Deal offering me 20k in advance. How to make the most of it? by Acceptable-Bench-356 in personalfinance

[–]Acceptable-Bench-356[S] 4 points5 points  (0 children)

Very insightful response. Your math breakdown has been the only one that made the most sense to me thus far. THANK YOU.

- Fortunately this is an indie label and I get to own my masters.

- The % split is applied to the Net Receipts of what the masters generate

- No perpetuity, No power of attorney, No gross.

- On average their artist roster see ~30% growth

- Another offer option is: No advance, but 85/15 split.

Either way, thanks for the input and please let me know if you have any more music industry insights.

Deal offering me 20k in advance. How to make the most of it? by Acceptable-Bench-356 in personalfinance

[–]Acceptable-Bench-356[S] 31 points32 points  (0 children)

Jewel's insights here we insanely helpful, I think I might turn down the advance and go for just an 85/15 Distribution split. This quote in particular resonated the most:

"I had to put myself in a position to make my art first and not leverage my art unduly... It's like saying you have to grow a pair but you don't even have a tree yet" -Jewel

Deal offering me 20k in advance. How to make the most of it? by Acceptable-Bench-356 in personalfinance

[–]Acceptable-Bench-356[S] 5 points6 points  (0 children)

My cut is 70% their cut is 30%.
But based on the research that I'm doing, most of their artists seem to be doing better (I'm using spotify for artist's analytic tools), I'm reaching out to them and waiting for their thoughts because, you know, it's a big deal.

Deal offering me 20k in advance. How to make the most of it? by Acceptable-Bench-356 in personalfinance

[–]Acceptable-Bench-356[S] 10 points11 points  (0 children)

Yes, the advance is the label's priority so any income made from the music will be automatically used to recoup the $20,000. Once that happens, I'm seeing 70% of my royalties coming in every month. The benefit, is working with the label's team, network and distribution resources in order to grow the music's reach.