Prince (Photo : Prince.org)
Singer Prince, who will release his next album titled "HITNRUN" through Tidal, advises young artists not to sign with record labels. He warns that these music companies have conditions that actually turn artists into indentured slaves.
He specifically scores the lack of say of artists on how their music would be used and the non-transparent manner of these firms when it comes to profit from online streaming, reports Billboard. Prince is in favor of the record labels not receiving a share of profit from streaming services.
Once artists have enough financial resources, they can provide their needs and do away with entering into one-sided contracts with record labels, says Prince who cites Jay Z - with whom he worked in the forthcoming album - as example.
"Jay Z spent $100 million of his own money to build his own service. We have to show support for artists who are trying to own things for themselves," Billboard quotes Prince who met with 10 journalists at the Paisley Park Studios in Minneapolis owned by the singer.
Prince was speaking from experience since he battled in 2014 his label, Warner Bros., to win rights to his hits collection, notes NUJournal.
His new album would have a physical release, while Prince revealed two songs from the album during the four-hour party at the studio on Saturday for participants to the National Association of Black Journalists convention, where mobile phones and recording devices were reportedly prohibited. The two songs are: "Million Dollar Control" and "Shut This Down."
