your own risk where there are a lot of artist falsely claiming to be financially established but can't fit
the bill of luxury. As a performing artist and writer myself, I understand the spot light of being ghetto fabulous(it's the art of being accepted) but is it really worth going broke just to keep up with the hype lifestyles of rich celebrity musicians.
There's a very small percentage of artist/rapper's "in the arena of rap" who are really living the glitter and glamorous life. This illusion has been designed to leave musicians (whether old or new) without and way less financially off then really illusrate.The reality is that after signing a record deal artist are giving an advance up front. How they spend it is left up to them.
In other words, rappers are giving a budget to promote and marketing their c.d/album. Many
atrtist should be aware that major record companies have to be paid back advance money once the album sales begin to take off selling. The artist doesn't see a cent of the finance's until that re-imburstment of advanced cash is paid-off fully. http://www.youtube.com/watch?v=QmXcpWkkin8
The way to earn is to be exclusive or non exclusive (licensing, ownership and copyright) of materials which is guaranteed if a hit song is produced written or published. The other way is touring. It's a great way to earn extra amounts of money by having corporate America (major record labels) fit the bill to tour the artist.
It cost a lot of money to perform live, as an artist on tour but the kick back pay to artist is pay worthy. It is big business involved and may call for an accountant to keep track of the monitories. The best alternative that rappers/artist have to expand in their line of work is creating other new entities of entrepreneurship, in which, many artist, producers and independent labels are going via P.O.D (print on demand) now-a-days.
Another way is by owning the independent record label itself. This puts the CEO of an independent label in the drivers seat with direction for financial entrepreneurial adventures. The business minded men and women who expand themselves into diverse areas of the entertainment business are also payable by account because of crossing ideas over into the film, commercial, beverage and clothing line industries.
There is always a positive message at the end lining of each P.O.W blogpost. It's an educating process that all musicians "whether they be rappers, R&B singers, producer's or song writer's" must learn and regardless negotiate to become better businessmen/women financially. Enter the Arena of the rap industry...where its best to keep business before pleasure!
http://www.youtube.com/watch?v=ROwvRdytaCc&feature=related
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