No record label can exploit artists —Steve’s Entertainment boss
The narrative that record labels are designed to exploit artists does not sit well with Steve’s Entertainment boss, Kpuwhara Egba-Oghene Steve who firmly believes that the artists hold the key to their destiny. According to him, the contract is sacrosanct and binding on all parties concerned.
“I feel no label can exploit any artist, because you guys have a contract before actually working together. Anything done outside the contract will be called to attention and resolutely resolved. This is not to invalidate the experiences of some artists who have signed crazy contracts because some contracts I have seen are almost like a prison sentence. For me, it’s all about fairness from both parties,” he said, stating that there are different types of contracts.
“Now there are several types of contracts between artists and labels- there’s the standard royalty contract where a label gives the talent major funding in cash while the artist is recording a project or an album whose sales and streaming rights will be owned by the label and in most cases, a percentage of it will still go back to the artist. I also know of the 360 contract where the label has a percentage of everything the artist does in their career within the period they are signed with that label both music and non-music e.g endorsements.
And note also, the fine prints of these are usually different.
So when a label structures a contract where the artist doesn’t seem like they are in prison or being exploited or being ripped off, I think everyone would be happy. They really just need to get their fair share. Artists also need to understand that the label is investing a lot and if their career never takes off, all that money goes down the drain. They are pretty much sacrificing and taking a huge risk on you which could result in a loss for them too, Kpuwhara Egba-Oghene Steve stated.
“Again, a major recommendation for avoiding predatory deal-making has always been getting legal advice before signing your contract. Even a contract with the tightest confidentiality clause doesn’t prevent you from having your lawyers review it,” he added.
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