> But the vast majority of new musicians do not self-finance their first few albums either. They sign up with a record label, and the record label finances the production/marketing/distribution costs.
Is that really the case? I'm heavily into the local music scene in my city, I'm friends with loads of musicians, go to shows almost nightly and talk to the bands, etc. Based on my experience most artists do pay for their first couple releases. With the exception of my friends who started their own "label" I only know one band who has any corporate involvement, and even in that case they're only paying to finish an album that was already being worked on.
Is that really the case? I'm heavily into the local music scene in my city, I'm friends with loads of musicians, go to shows almost nightly and talk to the bands, etc. Based on my experience most artists do pay for their first couple releases. With the exception of my friends who started their own "label" I only know one band who has any corporate involvement, and even in that case they're only paying to finish an album that was already being worked on.