On Tape Records Chasing Freedom

Home , Dutch hip hop, Hopsin, Joey Badass

Music Marketing Dagmar Heijmans

Members Yakari Gabriel 1674923 Joep Jansen 1680156 Miquel Pinas 1525105 Niek Geurtsen 1675236 Fain Altenberg 1669709

October 24th, 2017

University of Applied Science, Utrecht Minor Music Marketing and Media

Table of Contents ...... 0 Company Structure ...... 2 Our Story ...... 4 Our Mission ...... 4 Our Vision ...... 4 Our Musical Style & Genre ...... 5 Hip Hop ...... 5 Artists ...... 6 Value Proposition ...... 10 Target Audience ...... 10 Customer Personas ...... 11 Example 1 ...... 11 Persona 2: ...... 12 Reaching our Target Audience ...... 13 Competitor Labels ...... 14 Competitors in the Netherlands ...... 14 Worldwide competitors ...... 14 Marketing Plan ...... 15 Finances ...... 18 Raising Funds ...... 18 Company costs ...... 18 Promotion costs ...... 19 Sales and income ...... 19 Partners ...... 21 Distribution ...... 21 Brands / Merchandise ...... 21 Contracts ...... 21 Bibliography ...... 22 Attachments ...... 24 Attachment 1 ...... 24 Profit Sharing Agreement ...... 24

Company Structure

Company structure for On Tape:

(Main structure based on the company structure shown in the week 2 college decks of Dagmar Heijmans, 2017)

On Tape is an independent record label, meaning that we operate without funding from a major record label. Because we are a small company, we want to outsource the legal department and the production. This is because there is not enough work for a full time legal department. We do not have the knowledge and resources to take production into our own hands.

The CEO oversees the whole company and is responsible for new business deals. This is because new business deals could change the whole company drastically and he should have the full responsibility for these actions.

The HR-department is responsible for hiring new employees and positioning. They should keep good relations with the other companies.

The Finance department is responsible for all the finances that come in, and go out. They should also divide the royalties to the artists and employees. They also keep track of the salary and the worked hours.

The marketing department is responsible for the main marketing and promotion of our artists, their music, and On Tape itself. They keep track of all the sales and work closely together with the finance, A&R, and Sales department. They also do the advertising, publicity, artworks, video’s, etc. etc. Next to they are responsible for outsourcing the legal

work and production. In this case they can find companies that fit our values the best. (Heijmans, 2017)

The A&R department are the people who can spot new talent and work together with these artists to make sure they’re making good music which also sells.

The Sales department will be the biggest department of our company. They will be responsible for the company’s contracts (in collaboration with the CEO), for the licenses, etc. And they will negotiate the deals. Next to that they will do the sales promotion and work closely together with the Marketing Department to check on the deals with the production company, and the legal work.

The Business Model Canvas:

Our Story

On Tape Records was founded with a simple belief in mind. That is that great artists deserve a great platform to be themselves. Here at On Tape, we believe that artist should not have to sacrifice artistic authenticity for commercial success. The founders of On Tape are not only a group of young and passionate Hip Hop lovers, who enjoy the genre. We actively want to contribute to it as well. We believe that Hip Hop culture is powerful. We have seen how it has brought people from all walks of life together. We have seen it cross boundaries such as age, race, religion and more. We have seen it save people from themselves. To many, Hip Hop is what nurtured us when the world got too harsh for our understanding. It is where we found comfort and joy.

From coast to coast, we are continuously in search for innovation and artist to add to our collection of brilliant lyricist. As we carefully find, polish, and create a new wave of artists we invite every single Hip Hop lover in the world to hop on this journey with us. On Tape is from the people to the people, because just like you - we believe in freedom too.

Our Mission

By mixing old school with modern, On Tape Recordings aims to bring a new refreshed sound to the Hip Hop lovers of the world.

Our Vision

On Tape Recordings is a community of Hip Hop lovers known all over the world. By constantly innovating and playing with sound On Tape keeps it fresh. We listen to the fans, give them what they want and even what they did not know they wanted.

Our Musical Style & Genre Hip Hop

The motivation behind the choice for Hip-Hop is that it is a very dominating genre of music within our age group. Hip-Hop culture has taken over mainstream media and it is always rap music that is topping the billboard charts. It is music we sing along to and consume often without even paying too much attention to the lyrics. We consume this music, we idolize these artists, we are in some way very invested in pop-culture. It seems to be governing everything from our language to the way we dress. Words such as “slay”, “on fleek”, “ain’t nobody pressing me” and the use of words as “be” where there should be an “is” are more common than not.

Rap music started in the margins of society. Dating back to New York’s South Bronx in the 1960’’s. Rapping is the skill of rhyming over a beat, but along with it came break dancing, graffiti artists, block parties and a certain lifestyle that created “Hip-Hop” culture. Through the commercialization of the genre, there is a certain pressure on upcoming rappers to commodify to a certain rapping style in order to appeal to mass media, get large paychecks and sell platinum records. On Tape Records seeks to be the difference and allow rappers with original lyrical content to shine, we do not seek to go with the flow, but create a new one as we go by mixing things up. Below you can find a link of a playlist of artists with songs that fit our genre: Our Playlist

Artists

Joey Bada$$ (signed by Relentless Records) Jo-Vaughn Virginie Scott better known as “Joey Badass” is a 22 year old American rapper, actor and producer from Bedford-Stuyvesant, Brooklyn NY. His mother being from St. Lucia and his dad from Jamaica makes him the first member of his family to be born in America. His authentic style and ability to make music, carrying political and relatable messages that bring awareness, is why he is the perfect fit for On Tape Records.

Hopsin (label owner of Undercover Prodigy)

Markus Jamal Hopson better known as Hopsin is an american rapper, record producer, director and actor born in Los Angeles. He has a very aggressive style and is, as you can hear, influenced by Eminem. He is known by dissing fellow rappers like Jay-z, Soulja Boy and Drake in his single “Sag My Pants”. In his raps he criticizes alcohol and drugs and the mainstream rappers who use those things. He has released multiple “Ill Mind Of Hopsin” songs in which he fucks with literally everything. He would be a perfect fit to our label because he is a great rapper who is critical against modern society and wants to change the world with his raps.

Ms. Banks (signed by Earth Agency)

Thyra Banks, also known as Ms Banks is a 23-year- old rapper based in London UK. Ms Banks who is originally from Ugandan and Nigerian descent. Ms Banks fits the label On Tape Records perfectly because she has no desire to conform to stereotypes and expectations set for females in the rap world. Ms Banks is currently under the wings of Earth Agency. Earth Agency is a small music management company founded in 2014.

Rapsody (signed by Roc Nation and It’s a Wonderful World Music Group)

Marlanna Evans better known as Rapsody is a 33- year-old female rapper from Snow Hill, NC. Rapsody has a refreshing poetic flow when it comes to her music. Her distinction for metaphors in her lyrics, makes her appeal to a more intellectual audience whom appreciate layers to their music. Every reason for her to be a part of the On Tape Records family.

Lady Lykez (signed by CTRL Records)

Lady Lykezz, is a UK based rapper whose clever metaphors are enough to shake anyone to their core. If Lil Kim and Missy Elliott ever had a rap baby, trust us she would be it. Lykezz switches flows like lanes and it's her versatility and confidence that landed her in the arms of On Tape Records.

Currently under Nadia CTRL management which includes booking her gigs, but not signed to any record label specifically. On Tape records could offer her a much bigger platform, creative freedom and bigger team to push her to fulfill her maximum potential as an artist.

Cho (signed by TopNotch and Streetknowledge)

Giovanni Rustenburg, a.k.a. Cho is a 24 year old rapper from the Bijlmer Amsterdam. He has a unique voice, a good flow and can really tell a story. On every song, you immediately know: this is Cho. Influenced by 90’s hip-hop, he started with all types of gangster rap. He can do it all: real hip- hop, hit songs (but with his own touch, not just a mainstream song), love songs and he can tell stories. Besides that, he has a really strong presentation.

Cho has signed a contract at Top Notch in 2014. He is seen as one of the biggest Hip-Hop talents from the Netherlands. It is very unlikely that Top Notch will let him go and sign a contract at another label.

Nino (label owner of Global Kings Music)

Renaldo Luciano Trustfull a.k.a. Nino is a 31- year-old rapper. He started with rap when he was 16 and became a really big name in the Dutch Hip-hop scene at a very young age. He disappeared for a few years due to personal circumstances, but he has just made a comeback. He always mixes great value to good lyrics, and that is what he came back for. No top 10 music, but dropping knowledge. Giving something to think about. Because of this reason, he fits perfectly at On Tape Records.

Nino has done it all by himself over the years. He never got a deal from a big record label and decided throughout the years he could do it by himself. Over the years he started several labels by himself, and currently is the owner of Global Kings Music, a new label. This label has the same principle as us. It is a possibility that he would want to work together with us.

Ares (signed by TopNotch)

Rapper and Producer with his own rap-talk style. His real name is Rens Ottema and he is 21 years old. He is a white guy in a Dutch black rap scene who does it very different than the rest. He became famous through the Dutch talent show “The Next MC” in which he got the second place. He is known by his strange punchlines and his self-made beats. He fits to our label because he is self-made and very creative. Every album has his own new sound and he is improving himself all the time.

Token (not signed yet)

Token is a 19 year old rapper from the USA. He started rapping at a young age and put his music on YouTube. His videos became popular because of his fast rapping style and people started relating to him as the new Eminem. Token caught the attention of Hopsin and Hopsin invited him on his world tour. Since then he has been building his own platform and remains unsigned. On Tape is the perfect place for Token, because he has a lot of potential and is a great entertainer. He will remain his artistic freedom, while we offer him a great platform.

Jovel (not signed yet)

Jovel is a UK based artist and identifies himself as a rapper. He had a short moment of fame where he mixed 100 beats in 4 minutes and rapped over it. After that he has not been very successful yet in gaining more popularity, but he did release an EP. Lately, he has been working in the studio with one of Ed Sheeran’s producers. Jovel is unsigned to any label and we believe that we can offer Jovel the platform he needs to make it even bigger.

Value Proposition On Tape Records: We are aiming to bring a new refreshed sound to the Hip Hop lovers of the world.

We, from On Tape records, think that the Hip-Hop industry is more divided than ever. Many sub-genres are emerging and the original culture is slowly fading away. We want to bring people together again and give them a fresh new sound from artists who deliver quality music with no nonsense lyrics.

o Every nationality is welcome o We care about quality o All employees have experience in the music business o Fair share of royalties o Contracts with music distributors worldwide o Guaranteed artistic freedom

Target Audience

The target audience of On Tape are men and women between the age of 18 to 30. They are young people who love Hip-Hop music and are interested to hear good lyricism. The target audience lives in the city and graduated high school in A-levels. Right now, they are studying or have just graduated and listen to a lot of music throughout the day. In their leisure time, they hang out with friends, go out to concerts and festivals, or watch Netflix.

On Tape has a competitive advantage on the others because our value proposition is that we let the artist have their own artistic freedom. A lot of bigger labels really decide whether or not songs are good enough for the album; we will try to interfere as little as possible. Next to that, our label has artists from around the world. We are not only ‘Dutch/UK/USA’ based and therefore we have a variety of artists with different music styles, who also partly reflect their culture through their music. So, a Dutch artist could make a track with e.g. a UK artist and use their own creativity.

Customer Personas Example 1

Variables Profile Biography What are the conclusions/consequences for our company? M/F M Sylvester lives in a Sylvester is what we call: “The student house in typical Dutch student.” He is a Age 19 Amsterdam-East. He modern student enjoying his likes to hang around student life while listening to a lot Education Business with his friends. He of music with his friends. Economics at always listens to some Since he is a Hip-Hop lover as well, Hogeschool R&B and Hip-Hop via he is the right fit for our company. Amsterdam his earphones and he Although he is from the generation often goes out. that does not buy music anymore, Culture Dutch Sylvester is the type of he is always in for a good time. guy who is always in Therefore, he would definitely visit Family Situation Student living for a good time. our artists on tour. If he becomes a in dorm big fan of one of our artists, he could look deeper into On Tape Profession Economics Records and discover our other talent. Financial Situation Government funded + work

Brand Loyalty Neutral

Preferred media Social Media

Trendsetter/follower Follower

Hobbies Going out

Internet access Yes Values/lifestyle Socializing with friends

Persona 2:

Variables Profile Biography What are the conclusions/consequences for our company?

M/F F Chantelle is a laid- Our company could benefit greatly back girl, who enjoys of having a buyer persona such as all types of music but Chantelle. Age 22 Hip Hop is her Seeing that she is extremely ultimate favorite. passionate about the genre, she is the typical person that finds one Education Studying She spends most of artist she likes and tells this to Social Work her time looking up everyone else. She attends concerts new artists and frequently and still buys music. getting in touch with As far as “word of mouth” is Culture Caribbean their music. concerned She is super She is really our girl. Family Situation Student passionate about living social justice as well, and knows that Hip Hop is a perfect Profession Student platform to bring forth issues that the communities face in Financial Situation Government funded + a creative manner. work

Brand Loyalty Neutral

Preferred media Social Media

Trendsetter/follower Trendsetter

Hobbies Preaching about Social justice

Internet access Yes

Values/lifestyle Socializing with friends

Reaching our Target Audience

The best way to reach our target audience is to start out small and put the main focus on our music genre, Hip-hop. We intend on sharing some music from our best artists and get our consumers hooked. Once we peek their interests, they will be encouraged to sample the rest of our artists we represent. We brand our label by having a consistency between our advertising and our over-all image.

It is not expensive to advertise our label via the internet. Infrequently buying advertisement space on popular music websites such as, Pandora and Spotify, can be one approach. Another inexpensive approach would be to send material, for promotional usage, to music blogs that are at the center of the internet outlook. Having them write about our label or one of our artists would be free publicity that can reach a lot of readers. Furthermore, we present our consumers with a website for our label that allows them to directly buy from us. Lastly, On Tape Records and its artists have a Facebook and Twitter account where we can reach our consumers and update them.

Rewarding our consumers after they buy stuff from us is another way to keep them in our good graces. For example, a sampler CD or a catalog of label releases to give them a teaser of our other artists. Another example can be to advertise On Tape Records on T-shirts, Snap backs and Hats at a reasonable price. That way our consumers get a little more than they are entitled to and we get free advertising from them.

Competitor Labels

There are more Hip-Hop labels, but the following labels are at this moment On Tape Records’ biggest competitors.

Competitors in the Netherlands

Top Notch In the Netherlands, Top Notch is the biggest and most successful record label. It was the Label that presented the Dutch Hip-hop and made it huge. The biggest difference between On Tape Records and Top Notch is that On Tape Records is focused on good lyrics and context, not per se on mainstream commercialized music. Top notch has both, mainstream and context.

Noah’s Ark Founded by Dutch Rapper Jiggy Dje, Noah’s ark is A Dutch label that is doing its own thing besides Top Notch. Noah’s Ark has some well-known Dutch Rappers signed. Its main focus is Hip-Hop music and is less commercialized than Top Notch.

Worldwide competitors Def Jam A very old record label (more than 30 years). Def Jam has been through it all. The biggest artists have been signed here, and still it is a very big name in the Hip-Hop industry.

Top Dawg Entertainment This California label has a reputation for excellence and the strongest collection of rappers in the world. All releases are considered lyrics of great quality, something On Tape Records should respect. Content wise, Top Dawg Entertainment is an inspiration for On Tape Records. The difference between Top Dawg and On Tape will be that On Tape is focused worldwide.

ROC Nation Founded by Jay-Z, Roc Nation focuses in every aspect on modern entertainment—with recording artists and producers, songwriters and athletes. Besides some very big Hip-Hop artists, there are also some great artists from other genres signed.

Marketing Plan

At On Tape Records we believe in the power of new media. As we get one with the times, we do not discard the power of printed press when it is required. However, our main focus will be social media, because that is where our target audience is and it is the most cost efficient. Besides that, we will also advertise on Hip Hop platforms and the Radio.

Our main marketing strategy is to sell a story, make people feel like they are a part of something bigger than themselves. The key is to draw people in, and not sell the artist and art separate, but have the art as a deep intimate part of the artist. We will introduce Lady Lykez by raw storytelling and letting her write her own captions and choose her own images. We hope to come across as authentic, refreshing and unique. Which is essentially what we are as a company.

Every social media platform has a specific mood and what works for Facebook is not what works for instagram. By knowing the tricks and the glitches of each one we can use them more efficiently and reach our targets in a quicker way (Inc Magazine, 2017) Taking this into account we will do the following:

Instagram This platform will be used specifically to set the Lady Lykez image and tone. We will only use high quality pictures in a very strategic way (as the example below), Images might be split in 4 or 5, so it causes curiosity and draws people to the main page where her bio and our contact information will be placed. The storytelling happens through her, as she writes her own captions. It still looks corporate but has a creative fun twist.

Facebook This will be our “informational” platform. As Facebook is more article and video friendly, here is where we will post news, press releases, and all-around information about Lady Lykez. It is the platform that directly redirects people to our website, her YouTube videos or other social media platforms. We will also use it to give shout outs to other news platforms that cover something for us. Example below:

Twitter This is her interactive platform and her main platform to communicate directly with everyone. Of course, she will share information as well but mostly we will connect with the fans. Here she will also use the powerful hashtag feature as a way to raise brand awareness. All tweets should always end on #OnTapeRecords or #OTR or #LadyLykezOTR. To create a standard and make them easy to trace back. This is where the fans can feel like she is literally just an “@” away.

Snapchat Absolutely raw and unfiltered. Lady Lykez can use her own personal account as she pleases and share what she wishes with her fans. On Tape Records’ corporate account will use Snapchat to document important happenings around her, such as events and radio tours. Here we will tease the fans and give them real live snippets of whatever is happening so they do not feel left out and know what our artists are up to at all times but this is only when we are together with the artist.

Funx Radio The main reason to advertise Lady Lykez on Funx Radio 96.1 FM as oppose to other radio stations is because they cater to a younger generation. They are hip and fun, and the chances of us reaching our desired audience through them as oppose to other stations that play a wider variety of music. Just like On Tape Records, Funx Radio has a niche market.

Targets The main target is to grow Lady Lykez’s social media following drastically. Right now, she counts with 4200 followers on Instagram and 6500 followers on Twitter and 3200 likes on her Facebook fanpage. Her Twitter account is already verified, it is important to make sure her Instagram account gets verified too. By applying our social media strategy as effectively November 1st, 2017 we hope to see an increase in her following by 50% on each of her social media platforms by May 1st, 2018.

Finances Raising Funds

To start a record label, we need money. There are several ways to get money.

Investment/Loan The hardest, but the biggest option. To find an investor, it is important that we have a good business plan. It is necessary that our label is able to make profit and that we can show this. Besides investors, it is also possible to loan money from friends/family.

Crowd Funding A lot has changed over the years within the music industry. If you want to succeed you will have to use a different approach when it comes to income. That is why we are using crowdfunding to get money out of our project. This a relatively new way to start a project when not having the right budget. Instead of asking the bank for a starting capital we present our project to everyone on the internet. If someone is interested, they can invest the amount of money they want. This means, we will need a lot of people to invest. We think our artists are so authentic, there are a lot of hip-hop lovers who want to invest a bit of money. Some of our artists are also signed to other record labels, so they already have a lot followers who might want to invest.

Personal investment Because it is hard to obtain a bank loan, and crowd funding is not a reliable source, personal investment can also be the most reliable option. The only downside of this is that we must have enough money available to put in this record label.

Company costs

When running the record label there will be some overhead costs like:

o Rent: €550 per month = €6.600 a year (fundainbusiness, 2017) o Electricity: €6489 per year according to (gaslicht.com, 2017) o Telephone and internet: €35,12 per month = €421,44 per year (telfort, 2017) o Computers: 4 computers a €590,48 = €2361,92 (misco, 2017) o Insurance: €2044,21 (profitableventure, 2017) o office equipment and furnishings: €2811,25 (profitableventure, 2017)

Producing the music also brings costs. Costs for the studio and the equipment, a record producer, audio engineer and a mastering engineer. The producer of the song also needs a fee. We decided to rent a studio, so we do not have to buy all the studio equipment. The costs of renting a studio for a day is €320 per day but there is an 8 day offer for €2175 (studiobizz, 2017). An album can be recorded in a week (ARDELL, 2013) so the 8 day offer will be more cost effective.

Mastering the album will cost €426 (ARDELL, 2013) The producer fee will be 4% of the record sales.

If there will be a videoclip, there will also be costs for shooting the video, the staff during the video shoot, artwork etc. We will have a budget of €10.000 for the videoclip.

Some artists want to have an advance. This money needs to be available. Also there are some artists expenses like traveling, and food.

Promotion costs

o Social Media: Social media will be our main focus. We are going to spend around €2.000 in order to buy domains and social media adds. Also the social media needs to be kept updated and active. o Besides social media, we also want promotion on several Hip-Hop platforms and websites. o The cost for ads on websites depend on the Cost per Mille (CPM) that is the cost to show the banner on 1000 page views. So, what we are going to be charged with, depends on these amount of views o Radio advertising: We want to advertise on Funx Radio. The minimal costs of advertising on this radio station is €2.000. We will take the €3.000 package (mediabookers, 2017). Besides that, we also need an plugger who is going to promote our music at radio stations. o Logo and layout costs: We will need a professional logo, and the design of the websites and social media’s need to be on point. A professional graphic designer who does all this will cost approximately €768 (about €64 an hour for 12 hours). (smallbusiness, 2017) o Website: the cost for building and hosting the website will be approximately €511 (profitableventure, 2017)

Sales and income

We will not be selling CD’s. CD’s simply do not sell anymore. This will save us from production and storage costs of the CD’s. We will fully focus on internet sales: iTunes and Spotify. Also, we will have a YouTube channel and radio plays.

o iTunes: From a downloaded track, the revenue will be around €0,60 per track. o Spotify: the average amount for a stream on Spotify will fluctuate between €0,004 and €0,0084 o YouTube play: the average amount for a play on YouTube is €0,00069

Besides revenue on sells and streams, there is also the broadcast and performance right revenue. If our track will be played on radio or TV, we will be due a royalty.

o Radio play: the average amount for a radio play is €0,05 - €0,40

Nowadays hip-hop music is booming. So we expect a lot of streams for our artists. These are the real streams per month on Spotify:

Hopsin 1.357.912 * 0,0062 = 8419,06

Joey Badass 4.172.409 * 0,0062 = 25.868,94

Ms. Banks 13.156 * 0,0062 = 81,57

Rapsody 694.532 * 0,0062 = 4306,10

Lady Lykez 1768 * 0,0062 = 10,96

Cho 217.831 * 0,0062 =1350,55

Nino 34.802 * 0,0062 = 0,0062

Ares 86.189 * 0,0062 = 215,77

Token 167.303 * 0,0062 = 1037,27

Jovel (we estimate about the same streams as Rapsody so, 13156 * 0,0062 = 25.868,94) €67.159,17

We estimate 25 streams is equal to 1 download on iTunes. So 67259,17/0,0062 * 0,60 / 50 = €13.017.903,90,-

For radio plays we think the ratio with Spotify would be 1:25 so: 67259,17/0,0062*0,225/ 25 = €97.634,279,-

For YouTube plays we think the ratio with Spotify would be 1:2,6 because the hip hop song Mask Off ‘s ratio is: 481.000.000 (Spotify)/185.000.000 *(YouTube) = 2,6 67259,17/0,0062*0,225/2,6 = €938.791,15

Our total estimate of income is: 938.791,15 + 97.624.279 + 13.634.279 + 67.634.279 = €179.831.628,-

Slides from Dagmar Heijmann (2017).

Partners On Tape Records needs partners to succeed. This is essential because we, as a startup record label, do not have enough money to do it by ourselves. Another reason for using partners is because of our limited reach. So, we will have different arrangements with partners to succeed. Distribution The Orchard and Believe Digital will be our first distributors. Believe Digital because it is a leading distribution company in Europe and they will help us to spread our music in Europe. The Orchard, owned by Sony, is an American music and entertainment company and will spread our music to our American audience. With those two we will reach a big audience worldwide. Brands / Merchandise Besides distribution, merchandise is also very important. To give a big audience the possibility to buy our merchandise we will use the international Universal Music and Brands Group. This is the music concern with the biggest market share with 25,5 %. This means we will reach ¼ of the whole market.

Contracts

As stated before, On Tape Records is an independent label. Having considered the many different contracts available to us, such as a Standard Record Deal, 360 Deal, Single(s) Deal, Licensing Deal, Profit Split, EP Deal, Anti-360 Deal and Artists Deal, we decided that the Profit Split deal is the right fit for our Record Label. With the Profit Split Deal, our main focus will be on marketing the album seeing that our artists have already funded their project. We can assess our artists through a creative filter in contrast to a monetary filter, with the help of Profit Splits. If it is a successful release, the profits will be shared equally. Usually Profit Splits also grants both parties to decide the faith of the partnership after a release. This guarantees that both our artist and our label cannot be locked into a long-term relationship. (See attachment 1, page 24, for further details)

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Attachments Attachment 1 Profit Sharing Agreement

This Profit Sharing Agreement [THE “AGREEMENT”] is entered into as of [08/10/2017] by and between [Jo-Vaughn “Joey BadA$$” Virginie Scott] having its principal place of business located at [25 Bedford St. New York City, N.Y. 10014] (the “Artist”) and [On Tape Records] having its principal place of business located at [Daltonlaan 500, 3584 BK Utrecht] (the “Representative”), both of whom agree to be bound by this Agreement.

WHEREAS, the Artist has developed [PRODUCT] and holds ownership of all intellectual property rights in the Product;

WHEREAS, the Artist desires to hire the Representative to market the Product for sale; and

WHEREAS, the Artist and the Representative desire to enter into an arrangement whereby [Jo-Vaughn “Joey BadA$$” Virginie Scott] and [On Tape Records] will share the profits realized from the sale of the Product due to the efforts of the Representative according to the terms and conditions herein.

NOW, THEREFORE, in consideration of the mutual covenants and promises made by the parties hereto, the Artist and the Representative (individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows: 1. TERM. This Agreement shall last from the date of execution until terminated by thirty (30) days’ written notice by either party.

2. EFFECT OF TERMINATION. Upon termination according to section 1, the following shall occur: 2.1. The Representative shall continue to receive the profit share described herein from any continuing sales as a direct result of the Representative’s efforts; 2.2. The Representative shall direct all further inquiries regarding the Product back to the Artist;

2.3. The Representative shall return or destroy any physical or digital copies of the Artist’s proprietary information in its possession including (but not limited to) marketing material, business plans, customer lists, and pricing information.

3. RESPONSIBILITIES OF REPRESENTATIVE. In consideration for the profit share granted herein, the Representative shall perform the following duties: 3.1. Performing research and other prospecting duties with regard to potential customers; 3.2. Completing paperwork as needed; and 3.3. Performing other such duties and services as may be assigned by the Artist to accomplish the aims of this Agreement in the time, place, and manner deemed appropriate by the Representative.

4. PROFIT SHARE. In consideration for the duties performed hereunder, the Representative shall be entitled to [50%] of the profits earned for sales of the Product that are a direct result of the Representative’s efforts. 4.1. To be considered a “direct result” of the Representative’s efforts, substantially all of the contact with a customer that leads to a sale must have been made by the Representative. Although initial contact and contact at the sale point shall be factors to consider, they are not determinative of such sale being a “direct result” of the Representative’s efforts. 4.2. “Profits” are deemed to be calculated by the sale price less any expenses by the Artist paid on behalf of the Representative in furtherance of the sale and the cost of goods sold.

5. INDEPENDENT CONTRACTOR. The Parties agree that the Parties shall be considered independent contractors and not agents or employees of the other Party. Neither Party shall have authority to make any statements, representations or commitments of any kind, nor to take any action which shall be binding on the other Party, except as may be expressly provided for herein or authorized in writing.

6. CONFIDENTIALITY. The Representative shall not, in any fashion, form, or manner, either directly or indirectly: 6.1. Disclose or communicate to any party any information relating to the Artist’s business or the Product including (but not limited to) customer lists, price points, or marketing plans (the “Confidential Information”); 6.2. Duplicate any Confidential information; 6.3. Use any Confidential Information other than solely for the benefit of the Artist; or

6.4. Assist a third party in using any Confidential Information in any manner but solely for the benefit of the Artist.

7. APPROVAL OF MARKETING MATERIAL. The Representative shall receive written confirmation from the Artist in using any marketing materials related to the Product that were not directly provided by the Artist.

8. EXPENSES. The Representative shall not be entitled to reimbursement for any expenses except those that have been previously approved in writing by the Artist. Should the Artist require travel by the Representative, the Artist shall reimburse the Employee for such travel expenses, along with reasonable lodging and meal expenses upon presentation of receipts of such expenses.

9. INDEMNIFICATION. The Representative agrees to defend, indemnify, and hold harmless the Artist from and against any all third party claims (or other actions that could lead to losses by the Artist) that are based upon the Representatives (a) violation of the law, (b) violation of this Agreement, or (c) violation of any third party’s rights.

10. NO MODIFICATION UNLESS IN WRITING. No modification of this Agreement shall be valid unless in writing and agreed upon by both Parties.

11. ENTIRE AGREEMENT. This Agreement represents the full understanding of the Parties and shall supersede all previous oral or written agreements regarding the subject matter herein.

12. APPLICABLE LAW. This Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the State of [The Netherlands] and subject to the exclusive jurisdiction of the federal and state courts located in [Utrecht], [The Netherlands].

IN WITNESS WHEREOF, each of the Parties has executed this Consulting Agreement, both Parties by its duly authorized officer, as of the day and year set forth below.

[ARTIST NAME]

______

[Jo-Vaughn “Joey BadA$$” Virginie Scott], 08/10/2017

[REPRESENTATIVE]

______

[On Tape Records], 08/10/2017