Learning From Other Peoples’ Mistakes Part 1

This week Blasko and Mike take on a fan question from Todd, a loyal listener and 60 Days to Signable student (via Outerloop Coaching). Todd writes:   Hey there!   This is Todd, student of 60 Days to Signable and Unleash It Right and long-time listener of the podcast.   My band recorded a 5-song EP with a well-known producer last year. We paid a lot of money for it and without really taking time to learn about the industry or business side of things, or consider self-releasing, we jumped the gun and signed with an indie label to a not-so-good contract.   We soon realized that was a mistake. The release plan we had in place, which was a part of a PR campaign we'd already paid for, was scrapped (and we didn't get money back); the singles from the EP weren't released or supported well. We pressed physicals on our own (the label didn't want to), and we didn't know about UPCs at the time, so we have about 200 copies left without barcodes that we can't report.   About a month before the EP's actual release, we lost two members, one of whom was the singer on the album. A couple of months ago we talked to the label and secured a release. We decided (again, hastily, I think) to just give up rights to the EP because we didn't have the same members anyway. Looking back, I think that was a mistake because the label didn't pay for any part of the recording/production, etc. of the EP.   Now, we're debating whether or not to approach the label to buy the rights back. We have new songs, but we feel that EP could have been so much more than it was... especially with the knowledge I now have from 60 Days and Unleash it Right. Our thinking is that we'd use the stems we already have from the EP (FX & drums), then re-record the guitars/bass (maybe in a lower tuning), and also have our new vocalist do his version of the vocals, and get everything re-mixed & mastered.   So my questions:   (1) In terms of "masters"; let's call the masters we gave up as Set A, and the ones we'd hypothetically redo as Set B... would they technically be separate sets of masters? To where we wouldn't necessarily have to buy the old ones back? Or would they be re-recordings?   (2) Is it worth our time to worry about it, or should we just accept our mistakes, cut our losses, and focus solely on new material? We do have two new tracks we're planning the releases for currently. But, we also feel there's more that could be done with the old EP, and that giving up on an investment isn't necessarily the best idea... but also chasing a dead one might not be either.   Sorry for the length of this email! Thanks for your time and always awesome insight.   Best,   Todd   ---   Tune in to hear the insightful discussions and answers to Todd’s questions.   Email any questions or comments to [email protected] Find Blasko on Twitter and Instagram: @blasko1313 Find Mike Mowery on Twitter and Instagram: @mikeoloop Want to get your band to the top of the charts with your next album release? Sign up for Mike Mowery’s “Release It Right” and “Unleash It Right” webinars at signup.outerloopcoaching.com ManageMental is part of the Jabberjaw Media Network. www.jabberjawmedia.com    Learn more about your ad choices. Visit megaphone.fm/adchoices