yeah, but funding was largely a sham. Dave is right that studio time and agents don't get paid a percentage of record sales, but there are numerous errors in that chart he shows as well as his rebuttal of it, and I can see where this bass player was coming from. Fees for agents, studio time, and expenses all come out of the musician's pocket, not the studio's pocket. The chart completely missed the 10-15% songwriter cut, which for my band was a slightly larger share than share the entire band got (admittedly it was a bad contract, but we couldn't afford lawyers), divvied between all of us, but we never saw a cent of it - all those earnings went to pay studio time (primarily). Our singer songwriter made money on the album, the rest of us didn't.
All in all it wasn't a failure, though - the band actually made a meager living on the road, and I made a decent living by also playing in both a variety band and as a cellist (solo and quartet) at weddings. In the early-to-mid 1990s both of these gigs paid MUCH better than my band, and both were organized by my variety band's business - I was more like an employee, not an owner, unlike with the band (technically I wasn't an owner, but we divvied the profits) - I'm sure the owner took a large %age, but still $2k-5k (I made 5k twice doing both cello solo and variety band) a gig was pretty awesome. Unfortunately, variety bands ceded to DJs in the mid-1990s and I went back to school and finished my degree so I didn't have to live by random and becoming much more sparse income anymore. The band had broken up by then anyway (mostly over the financial dispute with the record label, and then refusing to make another album without renegotiating our contract - if this sounds familiar, it is hardly rare - see the Stone Roses as an example, and they were much bigger than we were).