Could you maybe just, from your own perspective, describe how they have changed and why?

Yes, indeed. If we go back 15 years, the typical artist deal resembled a royalty license agreement. You would sign a development act, offering them a five-album deal, each with an option. The investment would go into them, with a cash advance paid upfront. You would cover their recording costs and pay for their video production, which was 50% recoupable against their audio royalties as part of the marketing campaign. Additionally, you would pay for their tour support to help them get started on the road.

Could you maybe just, from your own perspective, describe how they have changed and why?

The landscape has changed significantly since then. Now, any artist, including those I manage, can set up their content on all platforms. They can use Spotify, Amazon Unlimited, Apple Music, YouTube, TikTok, Instagram, and other platforms. They don't need a label.

Could you maybe just, from your own perspective, describe how they have changed and why?

To survive, labels have had to evolve and start looking at deals that are more distribution-related, offering a larger share of the margin to the artist. The royalty rates on deals 15 to 20 years ago were typically no more than 20% of your PPD for a development act. Now, we've moved to a distribution type deal, which could be 50-50.