Why would anyone think this deal ever made sense?
“Let’s say you’re an artist and you do these fabulous paintings. And you come to me and you say, “Owen, I need money, I want to quit my job and just paint.” And I agree that you’re a great artist and you should do your paintings. And you say, “Can you loan me some money to do the paintings?” So I loan you 25,000 so you don’t have to work for a couple of months and you can make your paintings and make them phenomenal. You do that, your paintings become kind of famous, you pay me back the money I leant you, but I own your paintings. That’s how the business works. You sign to a record label, they give you all this money up front to make your album, they give you money to promote your stuff, and if you’re successful, you pay them back. But once you’ve paid them back, they still own your shit”
Read the story HERE. It’s really interesting.