If you’re not familiar with the app yet, the name should tell you everything you need to know: The record deal simulator allows you to input all the usual terms that go into a record deal (split, deal type, advance amount, etc) and returns total profit for the artist and label given a certain number of streams.
Pretty cool right?
Although record deals are on a downwards trends with more and more artists going independent, this is a pretty cool tool, mostly because there is lots of public information on record deals that can tell us exactly how much an artist and their label is making.
Take for example Kanye West. According to music journalist Cherie Hu, Ye would need to generate 3.2 billion (yes, with a B!) streams to generate 1$ in profit!
If the future of recording deals was already bleak, then surely this tool won’t help it recover.
If you’re considering signing a deal, we highly recommend checking out this tool.
Got any more cool simulations? Share them in the comment box below!