American rapper, Kanye West, has promised to give all the artistes signed to his G.O.O.D. Music record label the 50 percent share he holds in their masters.
Recently, West has been advocating for artiste’s rights as he vows to get his masters back from Universal Music Group.
He tweeted: “I’m giving all Good music artist back the 50% share I have of their masters.”
Speaking further on the new development, West revealed to Billboard in an interview that he plans to “free artists” from oppressive record deals.
When asked if he thinks music contracts were predatory by nature and also enslavement, he stated: “You only need to look back to the early days of the record companies and see how predatory they were. Old execs admit it. The contracts are almost the same now. The shape, the terminology… And yet, in that time we moved to a completely digital age. Has the attitude of the labels and the structure in which our music moves on our side changed to that degree? No, it has not. You’re locked in; once you’re locked in you can ask no questions. Name me one contract which allocates the amount of time you get with the finance team? It’s audit or nothing. Insane.”
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The rapper went on to stress his plans of creating a world where musicians have more ownership over their creative works.
“Free All Artists by any means necessary. I will work to rip apart the structure we are attached to that pays people for music. We cannot have designed streaming, but not designed a new method for payment and ownership around it where we all benefit. Predominantly the equity, i.e. the artist. The balance of power is too off, the gap between major label profit and artist profit too wide; and I will work to re-think the design of the entire way we move in this space. Streaming re-invented the wheel and we all stuck on the sidewalk wondering if we have cab fare. We have to get out the Matrix. It will happen: Remember, Ye told you so!”