Signing on a million dollar record deal is what all the artists dream of these days. Record deals have changed a lot in the recent years, but still many of the newly popular artists are still eager to sign a record deal of their dreams, but this move can prove to be counterproductive, and you might find yourself in a fix after some years of signing the deal.
First thing that all the artists need to understand is that the old era of music players is over now, and many social media sites and technology like MP3s and radio have completely transformed the industry, and have created new alternatives for the artists. You need to understand that there are other ways of getting satisfaction that watching your face on billboards and fancy TV ads. Here are some harsh facts about the record industry and the record deals that every artist needs to know before signing on a record deal.
You Are an Investment
Record companies, like any other business, are in the market to make money. And so they invest in the new artists they think would prosper in the upcoming years, and manage everything for them in exchange of their earnings. Every investor needs a good ROI (return on investment), and so they’ll push you outside your limits to make more revenue.
The bigger the record company or the record deal, the bigger is the loan that you’ll have to pay them back. And a big drawback to this loan is that the terms and conditions are very strict, and no one would care about your feelings, your family and your health. All that matters is money.
They Have Full Authority Over Your Content
By signing that fancy million dollar record deal, you’ve actually given the label full control over your creativity and intellectual property. They direct you what type of music you’ll create. They will decide what gets published and what doesn’t. Even if you’ve created a masterpiece, but the label disagrees, you won’t be able to publish that piece, even not by yourself, because that would be counted as a violation of the record deal.
The brand has invested a big sum of money on you, and now they have full control over your life, activities and the content you create. You’ll produce whatever the label needs.
You Might Be Wasting Your Talent
Consider this, all of the top record companies have well versed financial experts in their teams, they would invest on you if they think that you can make a higher number. So, why not believe in yourself and work with limited resources that you have?
Also just because you’ve signed a deal with them, doesn’t actually mean that you’re the next big talent in the industry. Record companies usually already have the next big talent, and they invest in every possible competitor to limit him and clear any kind of competition from the market. So, sign the deal on your own risk, because you might regret this decision in some years.