Nadia Rose, the female MC from Croydon London called out her record label; Relentless, for just signing artists and not managing their career. Big Up! to Nadia Rose for mentioning this. As record deals have long since been used as bank loans given to artists by the label which they are required to pay back. Unless artists have negotiated better terms from the record deal they have to pay back EVERYTHING that is spent on them. As a result many artists end up going bankrupt or in debt to the record label. Examples of this include artists such as Toni Braxton, TLC. Artists, especially newly signed artists, often don’t understand the business side of music industry and are thirsty to get signed.
There are many black artists particularly those coming from disadvantage backgrounds ie.; single parent households, poverty, high school drop outs, in care etc., are thirsty to make big money fast, and enjoy all the trappings of wealth and fame. Not realizing that there are many sharks in the record industry they often fail to see that record labels often do not have their best interest at hearts. Major record labels and their executives are known for taking the lion share of profits and leaving artists with the crumbs.
For this reason many artists such as the late Nipsey Hussle, have started their own record labels. Others like Skepta, stay independent before signing a record deal. So to new artists whether young or old, take advice from artists who are already in the music industry. Own your own shit and read the small print! In the documentary; Top Boy (see below) Skepta discusses his music career. He talks about how he managed to stay Independent and avoid music industry sharks.
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