Peter Thompson, UK managing director at [PIAS] made the comments during the Record Labels: The Good, The Bad, The Beautiful panel at The Great Escape.
The panel explored traditional artist/label partnerships and how they can be better managed to ensure all parties achieve their creative and commercial objectives.
Commenting, Peter said: ‘Blind faith and passion are what a label can bring to an artist. You don’t tend to make money in the early stages of their career.
‘Part of the service deal arrangements are about exploiting the artists’ recorded content but I always think it’s about the artist. Exploiting repertoire is a cornerstone of what we do and not the whole thing.’
Continuing, he said: ‘Artists are more open and pragmatic these days than before. You don’t really know what’s going to happen to the artist so you’ve got to be in it together from the start.’
Music manager Alex Martin from Crown Talent was also speaking as part of the session.
He stated that educating songwriters on the music business is one of the most important roles for managers. Read our previous news story.