Is there a case where giving up ownership of masters could be a good thing? In the short term, yes.
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For artists who aren’t on Swift’s level and are just starting out, the advance that’s often earned in exchange for signing over the masters may be too important to pass up.
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Music can take a long time to profit from, so it may be impossible to turn down an advance to try to negotiate a better long-term deal. When it comes down to it, though, it’s better for artists to retain control of their masters — that way, they can control and own their own work.