" I know more then one artists getting fucked this way."
Yeah, cuz they had a gun pointed to their head when they signed those contracts, right?
I worked in the music business for years (head of tech for Nettwerk, home of Sarah McLachlan, Lilith Fair, Bare Naked Ladies, Avril Lavigne, to name a few, as well as Virgin, EMI, Sony), and have seen my fair share of artists come in to see the A&R guys.
It amazes me how stupid some of the new artists are; they totally fail to prepare themselves for entering into any agreements with the labels, and then blame anyone but themselves later on when the light bulb clicks on and they realize that the contracts, written by the labels, are in the label's favour.
Maybe they're just too stupid to know they're stupid, but that's still no excuse. Even the most least expensive entertainment lawyer should be able to describe the situation outlined by the paperwork.
Sure, some of the "smart" guys I've known (who were some of the best musicians I've EVER heard), walked away from the userous loans/contracts, but there were always 100 willing idiots waiting in line to take their place.
Even the most simplistic moron of an "artist" should find themselves someone to handle their business/legal affairs, because that makes up 90% of the music BUSINESS.
A bad contract or two may be just the wake-up call that some musicians need to get a little grounded in reality. (Don't even get me started on the "I'm an artist, so I refuse to deal with boring things like business/contracts" crap).
Mind you, most of the "artists/musicians" I know think that they're just the cat's ass, and will be making millions in no time, so this little "loan" won't be that bad; it'll get paid back in no time, and then it's on to the fame and fortune.
They need a serious dose of reality (and a smack in the head). Just watch 10 minutes of American Idol to see how freakin obliviious 99% of the entrants are to their complete lack of talent.
PS: I've been a musician all my life; played the violin since I was 5, was offered a scholarship to Tanglewood, and have played lead guitar in Van Halen / SRV cover bands and other paying gigs for years, so it's not like I'm against musicians... I am one. I'm just against STUPID musicians that whine and complain.
REALLY END RANT