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RE: You Need to Join the New Blockchain Music Economy Before It’s Too Late
In theory yea if you can take an advance, default on the loan, and walk away unscathed that would be fine. Many artists end up trapped in these deals for years though, often losing the most promising years of their career (i.e. their mid 20s to mid 30s) trying to get free of contractual clauses that block them from releasing new music and stuff.
You can get your music on vinyl without signing a label deal btw! It's "save up for a while" expensive, but not "I need a cash advance of tens of thousands of dollars" expensive.
Yea it’s definitely possible to end up in a bad contract if your not careful. But the advance is a royalties advance, so it’s not a loan. You can’t default on it you just don’t see any additional royalties until it’s paid off. Your under no obligation to ever pay out of pocket to repay an advance for a recording contract. If your album doesn’t sell your financially better off for having received an advance. That said again it’s possible to get stuck with a bad contract, one you shouldn’t have signed. This article does a good job of explaining the ins and outs of a record deal. https://www.soundonsound.com/music-business/recording-contracts-explained