I don't think it's any secret that I think the record industry is flawed in the same way a business model built on indentured servitude and embezzlement is 'flawed'. Here are two more witnesses for the prosecution...
Tom Waits
The record companies are like cartels. It's a nightmare to be trapped in one. I'm on a good label now that's not part of the plantation system...Most people are so anxious to record, they'll sign anything, it's like going across the river on the back of an alligator.
Lowside of the Road p.456
Steven Tyler
We must have grossed about $140 mill. [on the Permanent Vacation tour] But we must have walked away with no more than $3 mill each. It’s always been that way and it just plain sucks. Right now this band would make more money selling 100,000 albums on the internet than we would selling a million on Sony. It’s sad the way it works.
Mojo Magazine May 07
Related posts: Modern day slavery in the music business
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It's wonderful to see these companies thrashing and decomposing. Meanwhile, organizations that actually help songwriters and musicians (like Taxi and ASCAP and NSAI) will survive and even flourish. I love it.
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