TLC has one of the most famous stories on how you can be a platinum-selling recording artist, not be a frivolous spender, and still be broke.
The late Lisa “Left Eye” Lopes quickly breaks it down in this video:
She also didn’t mention the fact that TLC was signed to Pebbitone, an imprint of LaFace Records, which was an imprint of Arista Records, an imprint of Sony Music. That’s four cuts deducted off top. You also have to pay lawyers, managers, accountants, etc.
Also, most of the clothes, jewelry, cars and more you see in popular music videos are rented.
There is money to be made in this industry. You just have to understand the game and be strategic.
…and watch their biopic. It actually explains in decent detail how the record industry works.
