Days after Prince announced that he would release his upcoming album "HitNRun" exclusively through TIDAL, the singer revealed the reason behind the decision to sidestep a typical record label release. "Record contracts are just like - I'm gonna say the word - slavery," Prince said. "I would tell any young artist... don't sign," according to Rolling Stone.
Prince spoke to a small group of journalists from the National Association of Black Journalists on Saturday at his Paisley Park Studios in Minneapolis, expressing his concerns over the future of the music industry.
The singer talked about how record company contracts turn artists into "indentured servants," giving them barely any control over how their music is used, especially when it comes to profits from streaming services playing their music online, according to NPR.
"Once we have our own resources, we can provide what we need for ourselves," Prince explained. "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."
Prince also premiered a couple of songs from the album titled "Love Control" and "Shut This Down" for the attendees. Furthermore, he stated that the album, which is slated to release for streaming and dowload on Sept. 7, would get a physical release in the future, The Minneapolis Tribune reported.
