Most artists dream of being signed to a major record label. They think all their financial problems are gone and they can just focus on the music. The problem is that the industry is setup to always benefit the label over the artists.
According to Citigroup, musicians only made 12% of the $43 billion made in the music industry in 2017. Most of the revenue generated was from touring. New artists are entered into 360 deals and end up signing away their publishing. These young artists see the advance check and don’t comprehend what’s in the contract.
How the Music Industry Works
The New Age
Fortunately in 2019, more artists are educated and opting to remain independent. Russ is an example of an artists who built his brand independently and leveraged it for a lucrative record deal. He is the only new artists who was featured on Forbes 2018 Hip Hop Cash Kings list.
Artist who are signed are now renegotiating their contracts or leaving major labels. Chris Brown just signed a new record deal which makes him the youngest artist to own his masters.
The internet has provided all the information and tools creatives need, there’s no need to sign to a label. Artists should focus on developing their brand and reaching their audience.
The D.I Y artist is the future !
You no longer need a label to distribute your music when you have companies like Distrokid . You don’t need a label to push your music when you have instagram, facebook ,and youtube. Everything that you need is right there in your phone.
If you’re an artists that feels like you need help or would like to further the conversation, then check out the Elite membership. Drop a comment below and let me know what you think about signing to a label verses staying independent.