"The weird thing is, is that when you're 19 - 20 years old, the record industry is selling you your dream as well as signing and entering a business agreement."
"You're ready to sign anything 'cause you're ready to just go for it, which we did" -- John Rzeznik

"You're hungry and you may think 'aw, this won't happen to me' or whatever and if the opportunity is there you'll basically sign it." -- Wyclef

"I had a situtation where I was bound to a piece of paper I signed when I was 18" -- George Michael

"... you have to come to that crossroad where you say either I'm going to be an artist or I'm going to be a business man or I'm going to be an artist who takes care of business" -- LL Cool J

"The most basic piece of advice for an artist starting out is to not get involved with long-term agreements when you have no guarantee of success and can get out of them if they aren't happening" -- Donald Passman (author, "All You Need to Know About the Music Business")

"Ultrasound" goes on 2 say how artists get a money advance 2 pay 4 accessories, food, etc. when they 1st sign their deal ... and artists think this advance is a gift, that they r suddenly rich.

the music industry is full of lawyers becuz only a lawyer could hope 2 understand a recording contract.

A 1st-time record deal, the company may take 85% cuz they have 2 promote their artists and the artist may see 15% out of that, and out of that they have 2 pay musicians, lawyers, producers and income taxes.

"recoupment" when broken down means when u borrow they get back b4 u make. all the record art, all the studio time, all the ads, all the album pictures u c on the walls, all of that gets paid b4 the artist sees a dime.

the price of CDs ... the artist may c a $1.50... MAYBE $3.00.

Public Enemy -- example: out of 100 points they saw 7 points.

"If u've been in the industry long enough and structuced everything correctly... if u sell a million records u should get rich.... if u don't that's becuz u have a bum deal" -- LL Cool J

THE LOW END THEORY
1.5 millon albums sold
$375,000 recording budget
14% royalty rate (approx. $1.12)
3 videos @ $80,000 ea. (artist pays half, that's 40,000 per video times 3
videos $120,000 + $375,000 = $495,000)
$495,000 recouped
then all the other stuff u have 2 pay:
group tax.
individual tax.
pay the lawyer, the accountant, the manager.
the artist may get $15,000 each.

"ultrasound" also talked about how the artists who r in debt may sell their songs 2 commericals 2 get money.

"ultrasound" also talked about how the the Wu Tang Clan have elimated the middle man, venue operators and opening their own retail outlets.

"ultrasound" goes on about music being available over the internet label-free and this scares the record labels.

some musicians and other ppl go on and talk about artists that r successful rn't those who sell millions of albums but how long they stay around and how many albums they make.