This record deal simulator helps artists navigate the world of label deals

Daouda Leonard, manager of BloodPop and Grimes, has launched the A resource dedicated to helping artists navigate the murky world of record deals.

The app is a gamechanger. It’s a simple, easy-to-navigate way of unpacking labels model deals, offering financial transparency and making the business side of things more artist-friendly.

“Many artists sign record deals they don’t fully understand,” the app pledges. “We’ve created the Record Deal Simulator to help artists, managers, and labels model deal options and forecast profits. This is a rough guide to better understand the finances of how record deals work.”

The app breaks down three types of deals: royalty, net profit and distribution. Artists then enter the split between them and the label, the advanced received and the marketing costs involved. It then breaks down exactly how many streaming numbers an artist will need to amass to pay back the advances before they start seeing a profit.

The app has already received social media backing from those in the industry. “These kind of things will make music less hierarchical and more artist friendly,” wrote Grimes.

Whilst Questlove, shared the app, writing, “everything needs to be rebuilt from scratch.”

Check out here.

Read the original article on The Industry Observer