This shows how from every $1000,- of revenue, the average music artist makes around $23,- out of which the record company then recoups ‘expenses’.
” In a traditional loan, you invest the money and pay back out of your proceeds. But a record label deal is nothing like that at all. They make you a “loan” and then take the first 63% of any dollar you make, get to automatically increase the size of the “loan” by simply adding in all sorts of crazy expenses (did the exec bring in pizza at the recording session? that gets added on), and then tries to get the loan repaid out of what meager pittance they’ve left for you.
Oh, and after all of that, the record label still owns the copyrights. That’s one of the most lopsided business deals ever.”
Of course, Hollywood does this too but on a much larger scale.
Which is why we need copyright laws – to protect the big companies. Screw the artists!