Saturday, March 25, 2006
I find it amazing that people in the Music Industry make such a large sum of money from something they did not create. A manager gets approximately 20% of an artist’s advance from a record label. That seems quite steep… then the artist has to pay for the recording costs… then the artist has to pay for their tour… then they have to pay back 100% of the money out of record sales that are approximately $1 per album sold. This is asinine!!! An artist will never really make any money unless they sell over 100,000 albums. This doesn’t seem very reasonable given the drop in album sales due to the increase in on-line sales (primarily through iTunes) which only pay the artist a few pennies per song. But hey, what would the Music Industry be without a bunch of leeches trying to get a lot of compensation without doing a lot of work.The seminar was good today and I hope to catch the finals of the band competition on Wednesday. We are beginning to realize the hardest thing will be signing the first few bands. It would seem that after a few are up and going the rest of the bands will come to us.The economics of the Industry are changing and the leeches have been quite slow in their acceptance of this fact. I will discuss this further tomorrow.
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