If you signed a contract with a record company in former days, it was about making a record and the sharing of the revenues. After the collapse of the CD market, record companies started looking for new ways to make money.
Artists often get more revenues from live performances and merchandising, such as selling T-shirts, than revenues from CD sales. This led the record companies to the idea of another way of contracting.
Therefore nowadays contracts are made with artists including the income from live performances and merchandising. This is called the 360° degree deal.
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