What is the purpose of labels in the music industry and why do they hold so much power as well making more money than the artists signed?
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Basically, musicians can not afford to finance records themselves. Musical instruments and recording equipment are incredibly expensive. Since labels have the capital to finance the records, they hold all the cards. Without their money, the record will not be made. Typically musicians are not the most functional people. It’s a choice between bagging groceries or taking whatever offer the label gives them.
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