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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Same as publishers for books. They put the content in front of people. They make deals radio stations, movies, games, etc. To sell music. They also pay for production of songs, music videos, CD, etc. Sometimes they pay for touring. In exchange, artists sign (often predatory) contracts. As such, they’re always going to make more money. Modern day, most bands only really see money from touring, making cents on the dollar per song sold on something like itunes. You may remember a few years ago people tried to raise money to buy Ke$ha out of her contract. She was sexually assaulted by her record producer, but Sony wouldn’t let her out of her contract.
Tl;Dr they control the purse strings and legally bind people and bands
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