‘The Sin That’s Killing the Music Industry”

Is it true that Rihanna, who’s had some of the biggest hits of the last 20 years only has 20 grand in the bank?  I don’t know, but just the thought of it is enough to make me repeat what I’ve been saying for years.  Major labels suck.  They run in the most inefficient fashion, lose money, and then recoup their losses from their artists.  My man Adam Bernard sums it up perfectly in his article on major label greed and 360 deals.

I would like to say that I still think 360 deals can be good, as long as you’ve got the right people in place to manage the artists’ careers and look out for their best interests.  If not, then they’re no better than the traditional major label deal.   It’s not P2P, or any of the other bullshit the labels are claiming that’s killing the industry.  It’s greed on the part of the label execs.

I’ve said it before that I think all the major label execs should take Hypebot’s $1 challenge. Which would mean they’d only get a base pay of $1, and the rest of their salary would be contingent upon the financial success of the label AND it’s artists.

Score another one for you, Adam!  Excellent article.

1 Response to “‘The Sin That’s Killing the Music Industry””

  1. August 24, 2008 at 7:45 pm

    The thing about the 360 deal is, of course, that it looks really good. It means that all an artist has to do is worry about their art- a relief to many. The problem is that it represents putting all the artist’s eggs in one basket, which is a problem when the basket belongs to a crow.

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