CreateOS: A New App That Is Pulling The Veil On Record Deals
I was about to sign a deal with a label when I stumbled across CreateOS, an app that allows you to input record deal info and find out how long it will take to break even. I was shocked to find that the small $10,000 deal I was offered would require at least 4 million plays to break even.....AND they wanted to own the master? Considering the fact that my songs currently have 50k-100k plays, reaching 4 million off a $10,000 budget seems like a stretch don't you think?
Definitely going to pass on that one!
The app was founded by manager of Grimes and BloodPop, Daouda Leonard, to help managers and artists in the music industry understand the workings of record deals.
A statement on the CreateOS website reads: “Many artists sign record deals they don’t fully understand. We’ve created a deal simulator to help artists, managers, and labels model deal options and forecast profits. It’s a rough guide to better understand the finances of how record deals work.”
As Kanye would say: "THIS MOMENT IS GOING TO CHANGE THE MUSIC INDUSTRY FOR GOOD"
Be sure to check out this new app and consult with a lawyer before signing ANY deals!