So, you might say the musicians who are more business savvy (they release independently in one way or another) can do well for themselves. The ones who let someone else take care of that stuff get screwed.
Yes, that's generally my outlook on the business aspect of the music industry. There are of course needed staff professionals - PR, Legal, Booking - but if those can be hired and managed with some good accounting by an artist/management team (and not behind a label's closed doors, subject to contract obligations) then it stands to reason more revenue will be retained by the principal.
Practically speaking, I think it's the musicians who "ask" someone else to take care of that stuff that get screwed. This is more like the "Pop Star Contract" take-it-or-leave-it kind of approach. Sure, the label can make a person a star, but that comes with some significant catches (see: rappers angry their label won't release their new album).
That's what I've thought all along. Artists think they can be artists and make money without learning business. As your parent mentioned with someone like Grimes, I think we're starting to see this change.
Practically speaking, I think it's the musicians who "ask" someone else to take care of that stuff that get screwed. This is more like the "Pop Star Contract" take-it-or-leave-it kind of approach. Sure, the label can make a person a star, but that comes with some significant catches (see: rappers angry their label won't release their new album).