Record Label Advances? - (What are they and do we need them in 2023?)

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What are record label advances? Do artists need one? Do record labels have to pay an artist an advance? Are they helpful? How does a label make their money back? Let's discuss!
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[@OtherRecordLabels]

Thanks for watching everyone! I have a new resource for record labels looking for help with making money! Check this out: otherrecordlabels.com/revenue

[@newacidplanet]

I gave an artists monthly advances in the first half of 2021 t a time he and his partner had no work due to covid. From the 6 tracks he recorded I chose what I considered the best 2 and one has been released and te next one in a weeks time. I felt is strengthened the relationship between us as label to artist and i felt happy i was able to help an artist through a tough time. a win-win .

[@OtherRecordLabels]

You are an inspiration! -Scott

[@flodareltih1]

I started a record label in India but the thing is nobody in India would buy the albums, merchandise and spend the money to attend live shows, the only profit for record labels is through RUclips views, Google ad sense, promotions etc.. I really don’t know what I’m gonna do. Record label is my goal..

[@OtherRecordLabels]

Thanks for the comment, keep at it my friend! -Scott

[@LowNoiseJasonSkilz]

Ive given some small ($200) advances to artists on my labels. As you say just to show some good will. It might take years for the artist to make that money for the label but its fine. Gotta support the artist and art. Nice Sens shirt btw!

[@OtherRecordLabels]

Love to hear this! Good for you! Go sens!

[@attymarkpiadventures]

Thanks Scott

[@OtherRecordLabels]

My pleasure friend! -Scott

[@AZULAPICTURES]

❤

[@OtherRecordLabels]

Thanks for watching!

[@Sam-cq9us]

What kind of deals do major labels do?

[@OtherRecordLabels]

Not entirely sure! Generally less favourable for artists than what an artist would get from an indie label!
Thanks for watching!

[@Sam-cq9us]

@@OtherRecordLabels i mean like do record labels give creative freedom, artist image or is all that controlled? Or does it depend on the record label? Cause you have artists like Kanye who seemingly does what he wants but then you have artists like 24kgoldn or kid laroi who seem to be controlled by the label.

[@musak.4068]

@@Sam-cq9us depends on the artist