84 sats \ 2 replies \ @freetx 29 Jun \ on: Michael Jackson Died With $500 Million in Debt Music
The music business is basically a lone-shark industry.
  1. Record label fronts you the money to record album + do tour (note: they own the studio you record in, using their producers and engineers, and its their tour management group).
  2. So you start off the first album several million in debt to record company and now need to work like a madman to pay it off.
  3. The deal they have is a "360 deal" which means they earn a percentage of every dollar you make as a person. Album sales + concert tickets + merchandise + endorsements + speaking fees + YouTube channel, etc.
  4. If you get to the point that you just about paid off all the debt, they suddenly decide its time for another album. Goto 1.
write
preview
this territory is moderated
31 sats \ 0 replies \ @cristaiji 29 Jun
That’s sounds about right. 😩
reply
10 sats \ 0 replies \ @Bell_curve 29 Jun
Remember Prince dispute with Warner music?
Artist formerly known as Prince
Who killed Tupac? My favorite is death ☠️ row records. At least Mr Knight is transparent
I had a neighbor who was a lawyer at a record label in 1999. He hated his job. He said contracts are written so that the artist is paid last and least.
reply