Prince Exposes Record Label Contracts (2000)

Video: Prince Breaks Down Record Label Contracts! (Rewind Clip) (2000)

In 2000, Prince was the guest on Jay Leno’s “Tonight Show”. He spoke on record label contracts and how many artists are being screwed over these days. Prince mentioned that if his record sells a million copies, he gets roughly 10 million dollars. If he sells 2 million, he gets roughly 20 million, so when Jay Leno mentioned Mariah’s deal with Virgin, where she’s getting over $20 million per album, she loses out on way more money that could’ve been made as she had only agreed to $20 million on contract. R.I.P. Prince Rogers Nelson.