Leap Masters Press Release
Leap Masters Q & A
03 May 2005
What is Leap Masters ?
It’s a separate trading division of Leap Music that will acquire copyright in sound recordings, known as "Master Rights".
Who owns Leap Masters ?
It’s a wholly owned trading division of Leap Music, which is a joint venture between Richard Kirstein (ex Head of Film, TV & Media at Zomba Music Publishers) and advertising agency Bartle Bogle Hegarty (BBH). For more details on Leap Music, visit http://www.leapmusic.com, including past projects and staff profiles.
How does Leap Masters fit in with Leap Music ?
Leap Music is a music publisher (acquiring copyright in compositions/songs) whilst Leap Masters is a master rights owner (acquiring copyright in sound recordings.) Where Leap controls both rights, we’re able to efficiently administer the two separate income streams for our clients, though we will account separately to songwriters and artists and not crosscollaterise the two payments.
Will Leap Masters be looking to sign artists to exclusive recording agreements ("record deals") ?
No, it’s not a traditional record label, and will only acquire masters on a title by title basis.
How will Leap Masters exploit the recordings it acquires ?
We will only acquire and retain recordings if (a) they are synchronised within a TV commercial and (b) we make them available for sale as downloads and mastertones. Leap Masters releases will be PR’d by the Outside Organisation (offline) & Outside Line (online.)
So, if Leap Masters acquires a recording and the above conditions aren’t met, what happens ?
The master rights revert to the artist.
How will masters be made available for sale as downloads ?
We distribute via State 51 who service the major retailers such as iTunes Music Store, Napster, Sony Connect, HMV, MSN, Virgin etc.
And what about the mobile market ?
We distribute via leading aggregator Indie Mobile who service network operators and off-portal 3rd parties with realtones & full track downloads.
How do the artists get paid ?
Our licensees will account to Leap Masters (as copyright owner) and we will account to our artists.
What’s the royalty deal for the artist ?
For the firstuse synch fee, Leap Masters will account the lion’s share of monies received from the ad agency to the artist, whilst the remaining amount will be allocated to a PR fund to generate on & off line profile for the release. Leap Masters does not make a margin on the firstuse synch fee.
What does "firstuse sync fee" mean ?
That’s the first time the master recording is used by the ad agency within the commercial.
Does Leap Masters pay advances to artists ?
No, though we guarantee exploitation within a commercial as part of the deal, or the artist gets their rights back again.
Does Leap Masters guarantee physical single releases on CD & Vinyl ?
No, it’s well known that the UK physical singles market is in sharp decline and digital/mobile is clearly the way forward. That said, if the artist wants Leap Masters to license the recording to a 3rd party label for single release, we’ll happily do that subject to mutually agreeable terms.
What if the band wants to release an album ?
We’d be delighted if exposure via a commercial encouraged 3rd party labels to offer the artist an album deal. Ofcourse we’d license the Leap Masters owned recording to that label subject to mutually agreeable terms.
For which territories are you signing the master?
Our deals are typically worldwide, and as tracks will be available for sale via online retailers, they can be commercially exploited worldwide too. This reflects the fact that most of the ad campaigns we work on are either panEuropean or Worldwide. This is turn offers great profile to new acts with a view to being signed to exclusive record or publishing deals elsewhere.
How else are you planning to exploit the track?
We will put acquired tracks forward for CD compilations, and additional synchs once use within the commercial has finished.
What help are you going to give the artist to release and promote this record?
We will fund PR & promotion and in some cases secure additional funding from the advertiser ("the client") where they wish to leverage a digital single release on the back of their ad campaign.
How long do you own the master for?
Typically our deals will be Life Of Copyright.
Are you planning to sign the master and the publishing on the track at the same time?
Acquiring the master won’t apply for every project we work on. It’s more likely for brands with a strong music heritage e.g. Levis, Lynx or others for which music is a major part of the communication e.g. mobile phone, car & alcohol accounts. We’ll also take account of the synch fees on offer which vary from project to project. So it’s not a given that Leap Music & Leap Masters components will feature in every deal.
Is the artist able to rerecord the track if they sign to a larger record label?
Yes, subject to reasonable time restrictions that fit in with the advertising campaign.
Is Leap Masters trying to damage the mainstream record business ?
Certainly not, we’re merely bringing an alternative model to the market. We’ve always made it clear that we can’t compete with traditional labels on their own terms, but we do have something which they don’t: the ability to guarantee exposure to an artist within a TV commercial, in return for taking a rights position in one title only. In a period of dynamic change within the music business, we believe that the managers & lawyers of unsigned artists will give serious consideration to our offering. This is particularly true for underground leftfield acts who wouldn’t normally receive the level of exposure offered by a multimillion
pound advertising campaign. We’d therefore argue that managers & lawyers will embrace more choice and healthy competition in the market.
