In the music industry, a 360 contract is an alternative to the traditional recording contract. It is usually a signed contract deal between an artist and a record label but can also include promoters.
Normally, a 360 deal is where the record label agrees to provide financial support for the artist, including huge cash advances, funds for marketing, promotion and touring. In return, the recording artist agrees to give the company a percentage of all of their income, including sales of all recorded music, live performances and any other income.
The 360 contract was created to reflect the fact that much of a musician’s income today comes from many sources other than recorded music, such as live performance and merchandise.
Here is a comparison example between traditional contracts and 360 contracts: