(PHOTO CREDIT – PHIL KNOTTS)
This isn't exactly breaking news at this point, but I feel the need to spread the recent events in the trek of everyone's favorite 8th grade metal band. After going viral on the internet last year, much has changed for these young musicians…
The long and the short is Unlocking The Truth have received a monstrous $1.8 million multi-album record deal from Sony Music. This sounds great in theory, especially if their debut truly takes off. But there's a massive catch here… The band will receive a $60,000 advance but won't see a penny more unless their debut sells 250,000+ units. If they reach that point, they'll earn approximately 17% in royalties which is actually pretty good. But notice the extra emphasis on the if. And notice that most record deals are basically loans with horrible interest rates.
The industry comparison that's been going around is that Beyoncé (one of the biggest names in pop) sold just over 600,000 records last year. The likelihood of Unlocking The Truth hitting these numbers is slim. But one can certainly hope, not for the sake of Sony, but for the sake of these lads.
I, for one, will be buying the record and wishing the best for our young metalhead friends \m/