An Artist and Record Label Master License Agreement is a contract used by an independent record company to enter into a contractual agreement with an individual, group or band for the label to release and market a pre-recorded master owned by the artist. In this agreement, the artist grants the record label an exclusive right to exploit the master recording for an agreed number of years or term. The rights the label has includes selling audio products created from the masters and uploading the masters to streaming music services. After the term is up, the rights to the master recording revert to the artist. The label agrees to pay the recording artist a royalty based on a percentage of the income received by the label for all exploitations.  Instead of a traditional record royalty based on the sales price of the record, this agreement pays an artist a percentage of the net profits (receipts after expenses).. This makes it easier for a small label to calculate what the artist is paid after all expenses are paid back to the record label from sales of audio products and other exploitations of the masters. This agreement can be used for the licensing of a single, EP, or full album.

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