Nova Twins.
The IMI 31st Aug 2021

Artists on Marshall Records now get majority of revenue post recoupment

“We have to continue to learn and not be afraid to challenge convention. It’s what Jim did all those years ago…”

Earlier this month, Nova Twins and Marshall Records announced a “forward thinking” agreement that was described as a partnership rather than a record deal.

Marshall Records said that the deal favours the artist and is part of an intention to “drive positive change within the music industry, helping to break the mould of expectations when it comes to artist-label relationships.

Speaking to The IMI, Marshall Amplification’s Music Director Steve Tannett has elaborated on what exactly makes this relationship so different, with the stand-out line being that Nova Twins will receive the lion’s share of revenue as soon as they recoup.

“This deal is a culmination of how Marshall Records has evolved since our inception in 2016,” said Tannett. “Each time we put a deal together, it’s been based on lessons learnt, and this time we found a partner that made us ask different questions of ourselves and what we can offer.

“The obvious contractual point is that we give the band the majority of revenue post recoupment, which to our knowledge is very rare. But the band have retained full creative rights and we as a record label have KPIs based on our performance to ensure we are meeting the expectations of Nova Twins – there aren’t many labels who would put themselves in that position.”

"The ethical nature of majority revenue split will play a massive part in all our relationships moving forward."

Tannett also revealed that the label has retrospectively applied a number of these ‘lessons’ to the rest of the roster.

“We have looked at all of our artist agreements to make sure that, going forward, everyone has the same share of revenue,” said Tannett. “We want to make sure all of our artists are treated equally.”

When it comes to the Nova Twins partnership, Tannett is keen to underline that the parameters of the two-way relationship go beyond revenue.

“Marshall today is a diverse brand centred around legendary amplifiers with additional products such as headphones, active speakers, bags and clothing, all of which will benefit from the relationship with Nova Twins. This enables us as a label and company to proportion investment in the band as marketing spend, and couple that with access to our world class recording studio, recently built at our HQ in Milton Keynes. The band are getting major record label investment, but with a much lower point of recoupment.

“Essentially, it’s a subtle but vitally important switch where we focus on the value each party brings and attributing the cost fairly – this then ensures we are not supressing the artist or holding rights to ransom.”

So is the Marshall label now in the business of artist partnerships rather than record deals?

“It will depend on the talent,” says Tannett. “Their needs must always be put first and we will adapt the type of deal based on meeting their criteria. The ethical nature of majority revenue split, access to Marshall Studio, Marshall Live Agency, working with the amplifiers, Natal Drums, and award-winning active speakers and headphones will, however, play a massive part in all our relationships moving forward. We have to continue to learn and not be afraid to challenge convention. It’s what Jim did all those years ago, and what is ingrained in our company and brand culture.”

The IMI