A 360° deal (a.k.a. a “Kitchen Sink” deal) is a modern record contract where the record label takes a cut of all the artist’s income (merchandising, touring, publishing, etc.) as well as record sales.
Traditional record contracts were single agreements covering exclusive rights to the artist’s recordings during the contract term. Record labels now tend to try to acquire all other rights in relation to the artist. For example, exclusive rights for:
- Endorsements and merchandising
- Music publishing
The terms controlling each of these rights is normally defined in separate agreements between the label (or associated company) and the artist.
According to a study by Anders Ericsson, and made popular by Malcolm Gladwell, 10,000 hours is the minimum estimated apprenticeship to attain the level of expert. The study covered 2000 musicians, sportsmen and chess players.