3 Big Mistakes Artists Make in the Music Industry

Filed Under (Music Business) by FuNkwoRm on 10-12-2013

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  Entertainment Attorney Rasheed McWilliams briefly but effectively talks about 3 of the biggest mistakes artists make in the music industry. First he illustrates the importance of having and entertainment attorney. Far to often artists neglect to seek the counsel of one when dealing with contracts. While having one can be costly at first, artists can an often do end up paying tore than that cost for not having one in the long run. Having an entertainment attorney also helps you to better understand those legal documents so that you’ll know what’s in your best interest . Most of the stories you hear about artists being screwed by their labels, usually come down to one single act. They signed a bad contract. Why does this happen so often? Artists are usually so eager to be famous and on somebody’s label that they’ll often sign anything that’s in front of them if it comes with a little cash advance. That along with the fear that showing any resistance will make the label find somebody else, puts a lot of pressure on artists to sign bad record deals. Also covered in this video is money management. Having huge amounts of money go out as fast as it comes in is another very common mistake that artists repeat. To conclude, a lot of these and other mistakes can be avoided with the proper counsel and  some business education. Mistakes in the music industry

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  • Jon Spreez

    Good video I agree with everything said. But for an upcoming artist I can also see how it can be a tough task finding proper legal counsel, especially in a small market town, plus many lawyers want something up front just for their time so I can see how that can be intimidating for the starving artist just starting in the industry because just like you can end up owing a label all of your royalties, if you’re not careful the lawyer will be in your pocket for the whole of your career. So its important that the ARTIST knows his money just as well as the lawyers, managers, and accountants because there are plenty of horror stories about musicians losing everything because their team was full of vultures.

  • Chrystal Mitchell

    I totally agree with what Jon Spreez stated regarding
    getting an attorney. It can be costly to a starving artist. However, just like the author said artists
    are eager to become famous so they will sign just about anything. So it’s important for you as an artists to
    attempt to have a little of both worlds.
    Artists do this by having the attorney on retainer for those big
    contracts and money management will help you to create the funds to get the
    attorney. So I see both sides of the spectrum.

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