October 2008
‘360’ Agreements Reflect Industry’s Economic ShiftBy Michael I. Rudell and Neil J. Rosini
During the last few years, recording artists have been entering into so-called "360 agreements" with record companies and entertainment corporations in increasing numbers, changing the relationship that existed for decades among artists and major labels. Instead of focusing solely on sales of recorded music, the record companies now are sharing, through these agreements, in performers’ income from a 360-degree range of professional activities. These developments reflect the difficulties encountered in the music industry as electronic transmission of recordings has become dominant and piracy rampant, making the financial returns from sales of records insufficient to justify the cost of creating, marketing and promoting recorded music.
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