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In 2015, Tanzanian artist Harmonize signed a 15-year contract with Diamond Platnumz's WCB Wasafi Records because he believed all he needed was a record label, but he didn't fully understand what a record label entails. Four years later, in 2019, he realized how unfavorable the deal was. He submitted a proposal to terminate his contract, sparking a feud with his label boss. The contract termination activated a clause that required him to pay a substantial amount of money if he wished to leave the label before the 15 years were up.
To cut the story short, he sold his family's property to pay $235K (24 million Kenyan Shillings or 97 million Nigerian Naira as of 2019 rates) to terminate the contract. At this point, he had lost a significant portion of his family's fortune due to a bad contract. Don't assume he will make the money back, as he could have still earned it without selling those properties if he hadn't been desperate for a label in the first place.
What if he didn’t have the means to terminate the contract? What would have been the fate of his career? As an upcoming artist, never appear desperate when approached by a label. Ensure you understand every clause in the agreement, as explained by your lawyer. Remember, the record label's lawyer is not your lawyer; they serve the label's interests. Always have your own lawyer who is loyal to you.
NEVER SIGN ANY RECORD DEAL WITHOUT A LAWYER. THANK YOU FOR COMING TO MY TED TALK.
#RecordLabelWisdom #MayvibeAcademy #MusicBusiness #KnowYourContract #Obam #LegalProtection #ArtistEmpowerment #MusicIndustryInsights #ContractClarity #GetHeardAndGetPaid #LawyerUp #ThinkBeforeYouSign #CareerCaution #EmpowerYourself
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