A Million Dollar Record Deal Is Probably Not What You Think It Is
from the sounds-nice,-though dept
The article highlights a guy who won one of the big UK TV music competition shows... but has already been dropped from his label despite selling 500,000 singles and having a top 5 album in the charts. The final quote in the article basically highlights how a million dollar/pound recording deal really doesn't mean anything at all:
"What record companies are actually saying when they offer a £1m record deal is, 'we're going to pay the basic costs and, as long as you make it very quickly, then you can make a lot of money'.So there you go. A million pound/dollar recording deal covers your basic costs, and if you don't make it back in about five minutes, then you're basically a lost cause. Once again, those "big" record deals aren't looking so hot any more, are they?
"But you're going to have to make it very quickly.
"Now it seems to me that, if you don't make it in five minutes or on The X Factor, then you don't make it."