Do you remember the Candadian sibling band the Moffats, who released some stuff through EMI a few years back? Well, either way, they're back with a new rock act called Alberta's Hidell. More interesting than that, though, is the 'profit-sharing deal' they have signed with EMI Music Canada for their first album 'Up & Coming'. The deal will see the band stump up cash to cover some of the production and marketing costs of the album and take a cut of the profits in return. EMI will provide the rest of the marketing budget and an infrastructure for distributing the record around the world.
Jody Mitchell, Talent Acquisition and Artist Development Manger at EMI Canada, explained: "Because they came to the table with a finished master more or less, we contributed a certain amount of dollars to finish off the production of the record. We're going to contribute a marketing fund to it, but they're coming with their own marketing dollars, whatever funds that they've got. So in recognition of that financial contribution, it becomes more of a profit-sharing split of revenues after all above board costs are recouped. So it's a fair deal in that it allows both partners to share in success."