Prince - Essential Music Business Lessons

Dripp
Dec 3, 2024
6 min read

Updated: Feb 4

"If you don't own your masters, your master owns you."

In the Essential Music Business Lessons series, we’re all about helping artists take control of their careers by understanding their rights, finances, and creative power. Few artists have fought harder for artistic ownership than Prince, who famously battled against record labels to reclaim his master recordings and creative freedom.

Prince’s fight with Warner Bros. led him to change his name to a symbol and take an independent approach to music distribution. His struggles highlight the importance of owning your masters, protecting your brand, and staying true to your artistic vision—even when the industry pushes back.

In this post, we’ll break down the key lessons from Prince’s revolutionary approach to music business, from ownership rights to financial independence, and how today’s artists can follow in his footsteps. Let’s dive in!

The Prodigy Who Defied Expectations

By age 19, Prince had signed with Warner Bros. Records and was already breaking the mold. His debut album, For You (1978), didn’t make a massive commercial splash, but it did something far more important—it showcased Prince’s independence. Playing 27 instruments and writing every track himself, Prince proved that he wasn’t just another artist; he was a visionary.

From there, his star rose quickly. With albums like Prince (1979), Dirty Mind (1980), and the iconic 1999 (1982), Prince became synonymous with innovation, fearlessness, and creative control. He was prolific, producing nearly an album a year in the early ’80s. But with that productivity came a growing frustration: Prince wanted to release music on his terms, but Warner Bros. held the reins.

Ownership: The Ultimate Battle

Prince’s fight for ownership wasn’t just a personal struggle—it became a defining moment in music history. At the heart of his dispute with Warner Bros. was the issue of master recordings. In the traditional record label model, the label owns an artist's master recordings, which grants them significant control over how and when music is distributed and how profits are shared. For Prince, this arrangement was unacceptable. He believed that as the creator, he should retain ownership of his art.

His protest went beyond the symbolic. Prince’s refusal to compromise became a battle cry for artist rights. By changing his name to the unpronounceable "Love Symbol" and scrawling “slave” on his cheek, he exposed the power imbalance in the music industry. These bold moves were more than publicity stunts—they were acts of rebellion against a system that he felt exploited creators.

Prince didn’t just speak out; he took action. In the 1980s, he founded Controversy Music, his own publishing company, ensuring he retained significant control over his songwriting royalties at a time when many artists signed away those rights. Later, in the 1990s, he created NPG Publishing and NPG Records as part of his broader effort to break free from the constraints of major labels. These companies allowed him to release music independently, maintain creative control, and directly benefit from his work’s success.

His move from Controversy Music (ASCAP) to NPG Publishing (BMI) reflected a strategic evolution in his fight for autonomy. By fully managing his post-Warner Bros. works, he demonstrated that artists could build and control their careers outside traditional structures. This ownership not only gave Prince financial freedom but also allowed him to innovate without interference, releasing music on his own terms.

Prince’s legacy in ownership has inspired countless artists, from established stars like Taylor Swift re-recording her albums to regain rights, to emerging musicians building independent careers. He showed that owning your masters and publishing rights is more than a business decision—it’s an act of artistic empowerment.

For modern artists, Prince’s journey offers a clear lesson: negotiate smartly, protect your work, and, whenever possible, control your masters. The fight for ownership is not just about profits—it’s about preserving your creative legacy for future generations.

The Cost of Perfectionism

Prince’s perfectionism was legendary. He demanded excellence not just from himself but from everyone around him. While this contributed to his unparalleled artistry, it also took a toll. Friends and collaborators described him as introspective and private, traits that likely helped him navigate the pressures of fame but also led to isolation in later years.

At his Paisley Park complex, Prince created a haven for his creativity—but also a place to retreat from the demands of the outside world. Though he rarely spoke publicly about mental health, his reclusiveness and intense work ethic suggested he was always balancing the weight of being a cultural icon with his own need for solitude.

Chronic Pain and Tragic Loss

Years of high-energy performances, often in heels, left Prince with chronic pain. To manage this, he reportedly turned to prescription painkillers, including opioids. Tragically, his reliance on these medications contributed to his untimely death in 2016 from an accidental fentanyl overdose.

Prince’s passing shocked the world, but it also underscored a broader issue: the dangers of unregulated medications and the complexities of addiction. For an artist who seemed almost superhuman in his abilities, this loss was a reminder that even the brightest stars face struggles.

Championing Marginalized Voices

Prince’s dedication to uplifting marginalized communities was as bold as his music. He actively supported BIPOC artists by mentoring rising talent and pushing for Black ownership in the music industry. His influence helped shape the careers of artists like Sheila E., The Time, and Vanity 6, showcasing his commitment to highlighting diverse voices.

Prince’s philanthropy extended beyond the arts. He was a major supporter of YesWeCode, a program that trains young people from underrepresented communities in technology and coding, aiming to diversify the tech industry. Additionally, he donated to organizations like Harlem Children’s Zone, which empowers underserved youth through education and community support.

Even in his performances, Prince made powerful statements about racial equity and justice. He famously delivered a passionate speech during the 2015 BET Awards, stating, “Black lives matter.” His legacy remains a testament to the intersection of creativity and activism.

A Legacy That Endures

Prince’s death also highlighted the importance of estate planning. Without a will, his assets became the subject of lengthy legal battles among his heirs, underscoring the need for artists to plan their legacies as carefully as they create their art.

Despite these challenges, Prince’s influence remains as powerful as ever. His fight for ownership inspired countless artists, from Taylor Swift to Frank Ocean, to advocate for their rights. His ability to innovate—whether by founding NPG Records or selling music directly to fans online—set a standard for independence and creativity.

Essential Music Business Lessons

Own Your Masters and Publishing

Prince’s fight for ownership proved that control over your music is key to creative and financial freedom. Always aim to retain your rights or negotiate deals that allow you to reclaim them.

Diversify Your Revenue Streams

Prince didn’t rely solely on record sales; he tapped into touring, merchandise, licensing, and fan engagement. Build multiple income sources to sustain your career.

Protect Your Vision

Prince refused to compromise his art, even when it meant taking risks. Stay true to your creative instincts and make decisions that align with your goals.

Embrace Technology

Ahead of his time, Prince used the internet to connect with fans and distribute music directly. Leverage digital tools to take control of your career.

Educate Yourself

Prince understood contracts, royalties, and rights. Take the time to learn the business side of music—it’s just as important as the art itself.

Plan Your Legacy

Prince’s estate challenges highlighted the importance of planning. Protect your future and ensure your wishes are honored.

Final Thoughts

Prince wasn’t just a musical genius; he was a pioneer who redefined the rules of the music industry. His life serves as a blueprint for artists who dream not only of creating timeless art but of building a career on their own terms. By championing ownership, embracing innovation, and staying fiercely true to his vision, Prince left an indelible mark on the world of music.

But his legacy isn’t without cautionary tales. His struggles with isolation, chronic pain, and addiction highlight the importance of prioritizing mental and physical health in a demanding industry. For artists today, this balance is crucial: your creativity is your power, but your well-being is the foundation that sustains it.

Prince’s story also underscores the importance of planning for the future. Whether it’s securing your rights, protecting your assets, or mentoring the next generation, your legacy is more than just what you leave behind—it’s how you inspire others to carry the torch.

By learning from Prince’s triumphs and trials, today’s artists can chart their own paths, combining artistic freedom with business savvy. In doing so, they not only honor his legacy but create one of their own.

What’s one lesson from Prince’s journey that resonates with you the most? We would love to hear what you think about the importance of ownership and creative freedom in today’s music industry!