Post by Adam B on Aug 22, 2008 7:04:03 GMT -5
There is an interesting story going around the net that Rihanna, despite having some of the biggest hits of the past half decade, only has 20G’s in the bank. Now, I have no idea if this story is true, but I can say I know this has happened to plenty of other artists in the past. Massive hits don’t necessarily equate to lined pockets. Why is this? For many it’s a result of signing bad recording contracts. Avoiding such contracts has been the reasoning behind more and more artists going indie. The problem is that while artists don’t deserve to be stripped of their earnings the record industry still has the correct model for putting out music; it just has the wrong people working within it. The model of record labels being one stop shops for everything an artist needs, from recording to touring to promotion, is exactly what every artist is looking for. The problem comes when there are too many of the wrong people in positions of power at those labels. That, in turn, makes the labels places no artist would want to be. Sadly, most record labels fall into that category in 2008 and there’s one reason behind it – Greed.
Read the full story at: adambernard.blogspot.com/2008/08/sin-thats-killing-music-industry.html