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A question about advances...
Typically when record companies lay out an advance on a band, they expect to make the money back - in effect the advance is just a loan.
When REM re-signed to Warners for 80 million dollars, a few years ago, were they still be obliged to pay back that advance? Or was it a case of REM being such a successful band (at the time) that Warners just said, "Here's 80 million guys - go make us lots of albums/money?"
When REM re-signed to Warners for 80 million dollars, a few years ago, were they still be obliged to pay back that advance? Or was it a case of REM being such a successful band (at the time) that Warners just said, "Here's 80 million guys - go make us lots of albums/money?"