360 Degree Contracts

The function of 360 degree contracts is enabling the record to take share in the artists earnings and achievements. This refers to advertisement, television appearances and merchandise. Basically, it is a share of success in what the artists does. Sharing in income, this shows how the company is heavily involved with the development of the artist. And as a result, helps the company develop as well.

For example, there is Robin Williams had an 80 million deal with EMI records. His manager, Tim Clark said the internet offered various opportunities without the need of major labels. It was argued that the opportunities were much better. They were called "overpriced and shoddy services".

Positives:

-Record labels pay for the tours, which are very expensive
-Records now scout for more talent with this given opportunity
-Artists can be developed for longer
-Diversity for cross-market opportunities for the artist

Negatives:

-This can mean that the label can literally own you. Like alter how you live and present yourself. Not doing so means violating the contract.
-Wages will be lower, especially if the record sales are low.
-Artists don't really get money from record sales. The money has been sent going back to paying advances.