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| Attorney James L. Walker Jr. |
The entertainment industry hasn’t fully recovered from the
introduction of the peer-to-peer downloading sites of the 1990’s, but they have
been able to make some adjustment to stay a float. Entertainment Attorney JamesWalker talks about how the digital explosion has affected the labels, artist
and the attorneys who represent them as well.
“Many labels have resorted to "360 deals," a
concept where high-stature artists like Jay-Z or Madonna sign a deal that
allows a record label to participate in various income streams, including
merchandising, tours, concerts, etc.”
What these 360 deals mean for entertainment lawyers are less
contracts to negotiate and deals to participate in. In the past they would see new
recording contract weekly and spend weeks working on deals for future CD album
releases. With the invention of 360 deals it’s clear to see how many things
have been cut out and how less money is being made across the entire
entertainment industry.
“Where is the music industry going with the demise of these
record labels in the traditional sense?”
James Walker says, “We first must accept the new reality.”
Technology has made it easier for artist to produce products and get them to
the consumers. From recording music and videos to marketing and selling the
products sites like Reverbnation.com, Tunecore.com, iTunes.com and Amazon.com among many others gives artist platforms to eliminate the once needed funding of the major
labels.
His article goes on to discuss embracing the digital change
like Radiohead did in 2007 when their major contract ended, they released a
full album online allowing fans to pay what they wish for it. Royalty disputes
have also become apart of the new digital entertainment industry and many cases
have found their way in front of judges like the FBT Productions v.Aftermath Records, 09-55817, 9th U.S. Circuit Court of Appeals, which talks
about the royalty dispute the had over iTune downloads.
Article: Law.com
Photo: Eurweb.com
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