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More major artists than ever are giving up labels and going independent. From Radiohead to Trent Reznor, Tori Amos to Burning Spear, artists are leaving their labels in increasing numbers and realizing the substantial income potential when strong name recognition is leveraged with a direct-to-consumer sales approach.
“Artists are at the point where they realize going back to the old model doesn’t make any sense,” Mr. Message said. “There is a hunger for a new way of doing things.” In the last few years marquee musicians like Trent Reznor, the Beastie Boys and Barenaked Ladies have created their own artist-run labels and reaped significant rewards by keeping a larger share of their revenue. Instead of receiving an advance and then possibly reaping royalties later if they have a hit, musicians will share in all the profits from their music and touring.
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