69novels Chapter 15 Revenue Sharing Terms
Chapter 15 Revenue Sharing Terms
Herbert pointed to the terms and continued, "The current draft stipulates a 2-cent royalty per album/single for machine reproduction, which completely fails to reflect the true value of the song. I believe everyone agrees with that, right?"
Amanda's lawyer, clearly not an expert in entertainment law, was momentarily speechless and instinctively looked at the employer.
Amanda frowned and remained silent for a moment before slowly nodding. She knew that without "YMCA," they would have no confidence to negotiate a contract with a giant like Warner. The song's value was indeed more than just 2 cents in royalties.
Herbert pressed his advantage, flipping to the supplementary clauses of the contract: "In addition to Mr. Zeke being the producer of this song, which means he should receive 3% of the sales revenue as royalties; we also request an additional revenue-sharing clause: Mr. Zeke shall receive a share of all royalties that the Sirens receive from the record company in connection with this song, as the singers."
If it's a single release, Mr. Zeke will receive 20%; if it's included in an album, the share will fluctuate based on the popularity, reviews, and sales of other songs. If "YMCA" is the album's lead single, the share will be 15%; if, based on overall evaluation, all songs on the album are of higher quality than "YMCA," the share will be at least 1%.
"No way!" Amanda immediately objected, her face instantly darkening. "These profits come from the royalties our band members receive. This is completely unreasonable! We incurred the costs of performances and recordings; why should he get so much?"
Tino, who had remained silent until now, frowned: "Zick, this isn't what we agreed on! Our agreement was that you would receive the purchase price of the song and retain the copyright, without these additional revenue-sharing clauses. This is a surprise attack!"
Zik looked up and stared directly at Tino and Amanda: "I didn't launch a surprise attack. I'm just fighting for what I deserve. I wrote this song, and the arrangement and production are all in my head. I gave you the opportunity, and these shares are what I deserve."
Herbert immediately picked up the conversation, continuing to play the "bad cop," and said in a tough tone: "This is already a fair deal. Ms. Amanda, if you are confident in your own songs and believe that other songs will also be hits, then you only need to pay 1% royalties, which is very meager."
But if, and I mean if, all your other songs are mediocre, and the album sales are solely driven by "YMCA," is it really that much to give 15% as a thank you to the songwriters? Besides, that percentage doesn't even exceed what each band member should receive. Think about it carefully.
"Our song is absolutely fantastic!" Amanda exclaimed, her face flushed with anger. "Bill O'Quinn has seen our performances and is very impressed with our songwriting abilities. We don't need this one song to carry us!"
Herbert remained unmoved, shrugging and saying, "Since you're so confident, why don't you just forget about it? Good songs don't have to worry about selling. My law firm can help Zeke contact other buyers at any time. We know executives at Casablanca or RSO, and they will definitely be interested in this disco hit. Then you'll just miss this opportunity."
Seeing that the talks were about to fall apart, Tino immediately stepped in to smooth things over.
He patted Amanda on the shoulder, soothingly saying, "Amanda, don't be angry, calm down. This share is nothing compared to the Warner contract we got. I promise you, I'll help you get a generous upfront payment. Warner is always generous; they'll have more than enough to pay Zeke that $2. It's like getting a hit song for free that will make you famous. Why not?"
Zik sat to the side, watching Tino skillfully soothe Amanda, and chuckled inwardly.
He wasn't surprised by Tino's reaction. He had already figured it out: his song "YMCA" was the key to Tino's ability to "double-deal": without the song, the Sirens would never have given up on Bill O'Quinn and signed a management contract with him; now that things had come to this point, Tino was unwilling to give up all his efforts and would definitely help him make the deal.
Moreover, his own management contract was also a carrot dangling in front of Tino. Tino had already confirmed his creative abilities and knew that he was a cash cow that could continue to make money. He would never let him go and would naturally do his best to help him secure benefits, just so that he could get more of his share in the future.
After comforting Amanda, Tino sidled up to Keith, Anton, and the others, whispered a few words, and discussed the matter for a moment. Although the band members also felt that the profit-sharing ratio was a bit high, the thought of getting a Warner contract and becoming an overnight sensation made them nod in the end.
Soon, Tino turned to Zeke and Herbert and said, "We agree to all your conditions, and we will draft the contract according to your terms."
Both sides breathed a sigh of relief. Colin and Amanda's lawyers immediately revised the contract terms. After confirming that everything was correct, Zeke, Amanda, and Tino signed the contract, then extended their hands and shook hands with each other, officially finalizing the cooperation.
After the contract was signed, the members of the Siren Band immediately threw themselves into rehearsals, each full of energy and their eyes brimming with anticipation for the future.
Just then, Tino suddenly remembered something, slapped his forehead, and said with a somewhat helpless tone, "Oh right, there's one more thing, Zeke, you're not 18 yet, are you?"
Zeke nodded: "It'll be a few more months before I turn 17."
"This is troublesome." Tino frowned. "You are a minor, and all the contracts you just signed are not legally binding. They must be signed and confirmed by your guardian before they can officially take effect."
Everyone was somewhat surprised to hear this. Amanda's lawyer said impatiently, "Why didn't you say so earlier? Now we have to make another trip."
"There's nothing I can do, that's just how the rules are," Tino shrugged. "I guess I'll just have to make a trip to Brooklyn."
Colin, standing nearby, couldn't help but roll his eyes and mutter, "I can't believe it! We were completely fooled by a minor and a fresh-faced lawyer!"
Zik smiled but didn't say anything. This first-year student was sent by a top law firm and was much more skilled than the intimidating-looking Colin.
However, being a minor might also be a bargaining chip. Although it requires a guardian's signature, it can also protect oneself to some extent and prevent being overly exploited.
He picked up his bag and said to the crowd, "Come on, I'll take you to Brooklyn. My family's restaurant is really good."
The two cars drove one after the other into the Brownsville neighborhood. Zeke and Herbert were in Colin's car, while Amanda's lawyer followed in his own.
As soon as they entered Brownsville, Colin instinctively locked the car doors, frowned, and muttered to himself, "God, this place isn't safe. I've heard there are robberies and fights here every day. I can't believe you live here, Zeke."
"It's not actually that dangerous."
Zeke was telling the truth; compared to Manhattan these days, Brownsville was only slightly less famous.
Sitting in the passenger seat, Tino was in a good mood. Hearing this, he patted Colin on the shoulder with a grin: "Don't worry, nothing will happen. With Zeke around, we're safer here than on the Upper East Side. He works with big shots."
Two cars slowly pulled up in front of Old Rossi's restaurant. Several men who had been leaning against the wall with wary eyes immediately surrounded them, their hands instinctively reaching for their waists, their sharp eyes scrutinizing the two unfamiliar cars.
This is the heart of Brownsville, and the sudden appearance of an unfamiliar vehicle is bound to raise suspicion.