Just read over Megan @TheeStallion’s full recording contract with 1501. It's a 360 deal. Megan receives...
• 40% of her royalties (“net”)
• 70% of her merchandising (“net”)
• 70% of her performance revenue > $1,000 (“net”)
• 100% of her performance revenue < $1,000 (“net”)
• 40% of her royalties (“net”)
• 70% of her merchandising (“net”)
• 70% of her performance revenue > $1,000 (“net”)
• 100% of her performance revenue < $1,000 (“net”)
Megan’s deal calls for the delivery of one "full LP record," with two options (two additional albums). Of note, for an album delivery to count toward the deal, it must clock-in at no less than 45 min. Here are her runtimes:
Tina Snow – 30:00
Fever – 40:09
Suga – 24:33
Tina Snow – 30:00
Fever – 40:09
Suga – 24:33
In addition to her advance, 1501 committed, for "Tina Snow" Project, a minimum of $60,000, and maximum of $100,000 including mastering and marketing costs.
The recording budget for "second and third commitment album(s)," assuming 1501 picked up both options, is the same.
The recording budget for "second and third commitment album(s)," assuming 1501 picked up both options, is the same.
I’m not a lawyer but based on everything I’ve read, and everyone I have spoken with about this, people far smarter than me, I think Megan will lose in court. I would bet that Roc Nation tries to buy her out of her deal, with 1501 receiving future royalties as part of the deal.
Additional minor detail: The contract was delivered to Megan on 2/3/18. She signed and dated the contract on 2/4/18. This means Megan was 22, not 20, when she signed the contract.
Unrelated, but worth pointing out: @LGAairport has the gotdamn nerve to charge $12 for three apple slices, a pouch of peanut butter, four crackers, and 8 cheese cubes. Something needs to be done about this immediately.
