Kanye West has been on a crusade to remake the music business, get his masters back and terminate his contracts with Universal and Sony. Following a series of meetings with lawyers and label higher-ups, Kanye laid out how he imagines future artist contracts to look in a Twitter rant Sunday (September 20).
Kanye put forth what he believes to be the five pillars of music being: recording, publishing, touring, merchandise, name and likeness.
He divided the contract into eight guidelines with the first being artists owning their recordings and leasing them on a year-by-year basis to labels and the second being an “80/20” split between the artists and publisher.
The rest dive into dependents and lawyers’ involvement in deals, which he feels should be to make things more profitable for the artist and not more complex.
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Kanye sees equity and licensing making up the majority of an artist’s income, but also explains his feelings on royalties, portals, and how loans to artists as they’re currently constructed as advancements should be no more.
Kanye finished off his tirade by promising that he would be able to get his masters back but is calling for all artists to unify with him so they can also be treated fairly.
