The jilts Record Deal

Band: The jilts

The Deal:

10 year label deal with guaranteed 6 Albums. And 1 tour a year in which advertisement and venues are payed for and you receive 8% of all profits earned.

Royalties:

Starts at 9% for every record sold, in Stores.

7% for every album sold on iTunes.

1.7% for every song sold on iTunes.

Bonus 0.5% for every song, written by themselves, if it turns out 10,000 sales.

Bonus 5% if a song makes it into the Top 50 and 1.5% if the song makes it to Top 250.

Royalties can be reduced if the band does not turn up to work, without good reason.

Payment does not begin until advance has been met.

Advance:

The band will receive a £25,000 advance, however they will not begin receiving royalties until the advance has been met.

Reserve Against Returns:

Unsold stock can be returned for 66.2%. ANY returned stock will require a 0.1% fee from the band to partially reimburse the company for their loss.