I’m all for steemit and musicoin. I think they provide a huge opportunity, but not in the sense you describe. It provides a new income stream for independent musicians.
The problem isn’t necessarily the labels payment plan. An advance is only a loan against possible earnings so if you don’t earn anything else you get to walk away with your advance not owing anything. The biggest issue with mainstream music is who gets signed and who gets the record deals. It has nothing to do with talent and everything to do with vitality. For instance the catch me outside girl got a record deal. Not because she was talented but because it would sell records or at least top charts.
Most smaller labels don’t even do advances and artist signed to these labels tend not to make enough to live off of.
Also record labels are still useful for financing and facilitated the pressing of an actually record. Despite being on the blockchain I wouldn’t mind a record label deal as well, it would be nice to have my music on vinyl. That said I can make enough music to go around and I’d never sign off exclusive rights to my name it’s anything like that.
Anyways just my two cents.
RE: You Need to Join the New Blockchain Music Economy Before It’s Too Late