Know About Label Advances Before Accepting One - Viral Media Boost

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    Know About Label Advances Before Accepting One

    • 2 min read

    Know About Label Advances Before Accepting One

    As you move forward in your career, you will begin meeting with record labels looking to sign you. Labels will likely throw around advances early in the talks to entice you to agree to a recording contract quickly. However, you must know what this money is for and what is expected of you once you accept it.

    In short, a record label advance is a lump sum of money given to an artist when they sign a record deal. These music advances are meant to fund the artist's day-to-day expenses. Many artists blow these funds to maintain their image, purchasing jewelry, luxury vehicles, homes, etc. Others use the funds more strategically, paying for studio time, touring, content, or other endeavors that can make them money. While there is no rule book on what you can spend the money on, every musician needs to understand that it will need to be paid back at some point.

    Advances can begin in the hundreds and reach millions depending on how big the label is and how well the artist is doing on their own. A big advance could mean more unfavorable terms in the contract, so it is vital that all musicians have an attorney specializing in music contracts look over the paperwork.

    Artists should also be mindful of excessive recouping from labels. This can include unnecessary elements in their recouping strategies, which means it'll take years to pay back the advance. Another major con is the loss of creative control in your music when receiving an advance. Labels will begin to tell you how to make money and create music since they have to be repaid. They can start to change your image and sound to make you more profitable. While some artists enjoy this type of guidance, many will feel extremely restricted and unable to reach their full potential.

    Though they can help artists succeed, please remember that you need to do extensive research to ensure a record label and the advance is worth it.

    Best of luck with whatever decision you choose.