Prince Compares Music Industry's Record Contracts To Slavery, Gives Warning To Younger Artists

Nichole Tucker

It may not be the first time you've heard that signing a record contract is signing away your life, but it is probably the first time you've heard it from Prince. Recently, the seven-time Grammy award winning music phenomenon feels that entering a contract with a record label is the equivalent of slavery.

"Record contracts are just like — I'm gonna say the word – slavery. I would tell any young artist... don't sign."
"Once we have our own resources, we can provide what we need for ourselves. Jay Z spent $100 million of his own money to build his own service. We have to show support for artists who are trying to own things for themselves."

Just last year, Prince signed a new deal with Warner Bros., which reportedly "opened his eyes" to his rights. Such rights in his eyes include certain copyright laws.

"A brand-new studio album is on the way and both Warner Bros. Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship."

[Image via E! Online]