Exclusive buyout

[myrrh]

Hi

Does anyone have experience with exclusive buyout deals? This is my first forward and the library are interested in at least one song on an exclusive buyout deal.

I've read a couple of posts about this - including the benefits of diversifying your publishing/placements and also researching the library in question.

I can't seem to find much out about my library, from online searches at least. But even if their credentials are great, I'm concerned these songs could end up gathering dust on their shelf down the line, and there's nothing I could do to place them elsewhere.

Does anyone have any experience in negotiating the exclusive buyout (perhaps with some kind of reversions clause)? Or are they pretty fixed?

Also I'd be interested to know what kind of income you could typically expect from TV/Film royalties, to decide if the buyout fee is worth negotiating on.

Any help for a novice would be much appreciated. Thanks in advance! And if there are any links you've read in the Taxi forums regarding this issue I'd be pleased to hear about them.

M

[Joseph]

All I can say on the matter is that I've heard that these deals are virtually non-negotiable. If you don't like the deal, they'll just move on.

-Joseph

[Russell Landwehr]

Hi Myrrh.

Welcome to the Forums, and a BIG congratulations on your Forward. Your FIRST Forward and it's to a coveted Exclusive Library. NICE!

Most Exclusive Libraries are very discriminating about the songs they sign and they generally have some really good placement credits.

It can be beneficial to vet a company before signing that exclusive contract. Specially if your output of music is low-quantity and precise. (I can understand how you would want to be judicious about where you place your babies) However, I'm about to slap you with a reality stick

1-You sent the song in knowing that if TAXI forwarded it you could be asked to sign the song to an exclusive contract.

2-You can write a million more.

3-Unless your music is complete solid 24k gold, the chances of another tasty exclusive contract coming along for that (those) song(s) might be slim or take a while.

I think your TAXI Forum family would love to hear what the Library wants to sign and what listing it got forwarded on (hint hint)

(remember that we don't post Library names here in the Forums )

But even if their credentials are great, I'm concerned these songs could end up gathering dust on their shelf down the line, and there's nothing I could do to place them elsewhere.

You would have this same "lack of guarantee" anywhere you sign the song.

Also I'd be interested to know what kind of income you could typically expect from TV/Film royalties,

There's no way to put a number on this. It can range from fifty cents to millions... ok, not millions... well... unless this is the Theme from M.A.S.H. or something.

You won't have any leeway on contracts until you get some serious "street-credit" in the business or with a particular Library. So early on it will be a take-it-or-leave-it scenario.

Hope this helps, and again, CONGRATS on your first forward and Library Interest! Holy Cow! That's awesome!

Best Regards
Russell Landwehr

[VanderBoegh]

Hey Myrrh, I'll echo what Joseph and my man Russell have said. Unless you've got some serious resume stats, your chances of negotiating to a better deal are remarkably slim, and any attempts to negotiate might just cost you the opportunity entirely. Without knowing your background and placement history, you may be in a "take it or leave it" situation.

It's very rare, especially for newbies, to be offered a buy-out deal, which means cash up front. Of the 1,000+ songs that I have signed, I've only ever been paid an upfront fee for 28 of them. And about 20 of those came after I'd already built up a sizable placement list, and ALL of them came after having developed a good working relationship over the course of years with the libraries that paid me. So, to get the offer right out of the gates is a rarity. I'd count yourself lucky and blessed! Many people - including myself - would be envious of this deal!

I don't know the terms of the agreement, but my advice to people is usually this: sign the deal, then write more stuff. Commit yourself to making a high quantity of music. That way, even if the song never gets placed anywhere and does just gather dust, you've got 100 more ready to go.

Hell, I've got hundreds of tracks that haven't been placed yet but are signed to exclusive agreements. They will get placed eventually. Or they won't. Doesn't matter, because it's out of my hands now and I'll replace them all with new stuff anyway. That's my personal business plan!

Hope that helps give you another perspective as you mull this offer over.

~~Matt

[myrrh]

Thanks for your thoughts guys, much appreciated. I obviously don't want to lose the opportunity, so will do what it takes to make it happen.