The recording industry can be treacherous for new artists. Record labels and crooked managers often prey on the uniformed. However, if they are lucky enough to survive those initial years in the business and get out of bad contracts - artists generally gain a lot of valuable knowledge, and should fare much better in future deals.
Fergie of the Black Eyed Peas is an exception to that rule. Although we haven't heard about her having to deal with bad contracts yet. The singer admits that after 26 years, she's learned next to nothing about the business side of the industry. Instead she relies on her parents, lawyers and a therapist to insure she doesn't get taken advantage of.
"Well, I'm still learning about the music business because it's changing. There are all these different things coming up because of technology. It was a different world back then; it was very straight and simple: You got a record deal, you made an album, you got new fans. Now it's all these 360 deals and all these different... You know what? The business side of it? That's not my cup of tea. Will.I.Am's great at it. He thrives on it. It's just not my personality. I want to get straight to the art. The other part of it? I have my business team explain it to me. I actually have conference calls where I have my mom and dad on the phone, my accountant, my lawyer... Once in a while, I even have my therapist on these calls," she told BillboardI'm not kidding. Because there's so much smoke... I'm very cut to the chase; that's my personality. I don't like to speak in circles. So when people do that I'm trying to find out, "OK, guys, what are we really talking about here?" So my therapist listens in. Because it's very important to make informed decisions. I can be very impulsive, which is great as an artist but not as a businesswoman. So I have to slow down and surround myself with a great support team. So that's what I've learned, that I need to surround myself with a team that can help me. It's part of knowing that you don't know it all."
Hopefully Fergie's people are looking out for her best interests. I'd hate to hear about her being broke in the future because of mismanagement.
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