The folks over at NPR have a question/answer column pertaining to the music industry and 360 deals was topic du jour. What was once shrouded in a shield of mystique is slowly but surely coming to light. Danny Goldberg, president of Gold Village Entertainment, adds his two cents & peeling a couple more layers off the onion.
“a 360 deal is not something that has a precise definition. But in general, what it means is usually a deal with a record company in which the record company also participates in the income of all of the other aspects of the artist’s work, such as songwriting and merchandise, in addition to making money off the records.”
Hence the term, “360 deal.” But even that is a bit of a misnomer, according to Glenn Peoples, Senior Editorial Analyst for Billboard magazine.
“Most deals are about 270, maximum, not 360 degrees,” he says. “In theory a 360 deal encompasses all revenue that an artist brings in, and hence the name, ’360 degrees.’ I’m going back and forth between ’360′ and ‘multi-rights.’ Usually in my writing I call it ‘multi-rights.’”
Read the rest at NPR