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Business News Deals Labels & Publishers Legal
Unlocking The Truth record deal approved
By Andy Malt | Published on Friday 25 July 2014
A New York court has approved a deal for Sony Music’s Cherry Party label to sign teen metal band Unlocking The Truth, according to New York Daily News.
As previously reported, the label agreed to sign the band to release their debut album for an advance of $60,000 and royalties of 16-17%. However, in the jurisdiction covering the deal, because of the band members’ ages, between twelve and thirteen, the deal needed to be approved by a judge.
The record contract, which also includes options on follow-up albums, has been widely reported as being worth $1.7 million, though this is only if the label options the further five LPs after the debut.
The band are also set to release a book about their experiences to date before the end of the year.
