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A grey cloud has been looming over the record industry for quite some time now. Since CD sales have dropped tremendously even with the financial backing of major labels, some artists are now considering jumping ship to take the independent route after their contract term is up.

 
Jay-Z, for instance, signed a long-term recording, publishing, and management deal with Live Nation. This deal was reportedly worth $150 million. At the time, Jay had one album left with the label with Def Jam and jumped ship to start Roc Nation. This is just one example of major artists who make major moves all on their own.

 
Other well-known artists such as LL Cool J and Outkast were at the end of their contract and considered the independent route. Becoming independent is the same as becoming a free agent in the sports world. Being independent gives the artist much more flexibility and creative control over their music projects. It also allows the artist to reap more financial benefits.

 
Artists today are pretty smart. Some have even showed the world that they can be even better entrepreneurs by starting several business ventures of their own such as 50 Cent, P. Diddy and newcomers like Young Jeezy. But before any artist decides to take that jump, it would serve them best to think about their situation and ask themselves one of these questions:

 

  • Are you financially able?
  • Do you have the workforce or team to thoroughly carry out your plans?
  • Can you make the right decisions on your own?

 

 

And if at any point one of these questions are answered with a NO, you may want to reconsider extending your contract with the major label.

 

 

Photo Credit: Slangrap