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The Old Music Industry: ‘A System Specifically Engineered to Waste the Band’s Money’

no kidding

Longreads

During the 90s there was something of an arms race to see who could write the biggest deal. That is, the deal with the most money being spent on the band’s behalf. In a singularly painless contest the money would either be paid to the band as a royalty, which would take that money out of the system and put it into things like houses and groceries and college educations. Or it could be paid to other operators within the industry, increasing the clout and prestige of the person doing the spending. It’s as if your boss, instead of giving your paycheck to you, could pay that money to his friends and business associates, invoking your name as he did. Since his net cost was the same and his friends and associates could return the favour, why would he ever want to let any of that money end up in…

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