360 degree model
The 360-degree model (also called 360-degree deal ) is a business model originating from the music industry .
This is a complete marketing of an artist or a band. With this type of contract, the respective label earns money in all areas that have to do with a band or an artist: merchandise , ticket sales or artist / tour management, sound carrier / DVD production, online stores, etc.
The participating music company undertakes to provide financial support for the artist, including direct advances as well as funding for marketing , promotion and concerts. In return, the artist undertakes to give the company a certain percentage of the income generated by him, including the sale of music recordings, live performances and other income.
This business model arose at the beginning of the 21st century after the music industry was looking for new sources of income due to the shrinking sales of sound carriers.
Robbie Williams was one of the first to close a 360-degree deal. He received around £ 80 million in 2002 to deliver five albums and to share in all profits for his record company, EMI .
literature
- Benedikt Matthias Reimann: The 360 degree model in the music industry: Accounting treatment according to IFRS - approach to a branch-specific problem. Including case study and sample contract. Munich 2011.
Individual evidence
- ↑ New contract weighting for major labels: 360-degree deals , Metal Hammer from August 15, 2008
- ↑ Kulturmanagement.net: The 360 Degree Model in the Music Industry , from June 25, 2011
- ↑ Music with all-round marketing , FAZ from June 3, 2011