When Asake signed with YBNL, he claimed he didn't have an entertainment lawyer to help him review his contract because of his trust in Olamide, his boss. He believed Olamide had his best interests at heart, but looking at his recent actions, it seems that decision might have backfired.
Fast forward three years later — Asake has gone silent on social media, unfollowed everyone, deleted his posts, and missed all major December shows, including his boss’s event. Rumors are circulating that he’s about to split with YBNL, but because of the contract he signed without legal advice, leaving might not be so easy.
The lesson here is simple: No matter how much you trust your record label boss, always hire your own lawyer. There are hidden clauses in contracts that won’t make sense until they play out in real life.
A record label can either elevate or destroy your career, and your success depends more on your negotiation skills than the label itself.
Remember These Rules:
a. There’s no such thing as a bad contract — you get what you negotiate.
b. Record labels are not charities; they’re businesses looking to profit.
c. The record label’s lawyer is not your lawyer. Always hire your own lawyer.
d. What happens during your deal will shape your future career.
e. Never sign out of excitement. Understand every clause first.
Below are a list of essential clauses every upcoming artist should demand and realistic compromises that labels might accept.
1. Ownership and Control of Masters (Master Rights)
2. Term and Options (Contract Duration)
3. Creative Control
4. Royalty Rates and Escalation
5. 360 Deal (Revenue Sharing)
6. Sunset Clause
7. Marketing and Promotion Commitment
8. Touring and Merchandise Rights
9. Audit Rights
10. Exit Clause