Black smoke and cac jokes
All Black Everything
The same goes for all these dudes with label deals.
It's always ironic reading some story about a rapper on a label under a popping artist, example MMG or Grand Hustle, waiting on clearance from Atlantic or Def Jam. Dudes walking around claiming boss status because the labels let them have their own office inside their building. But can't even put out "their" own artists without permission.
Dudes aren't bosses....dudes are managers....actually, dudes are Super A&R reps really. The large conglomerates give rappers label deals, so they can find other artists and do all the leg work that labels don't want to do anymore....A&R, artist development, PR, etc.
So, instead of having street teams and PR, now labels just say, " Rick, you have your label...MMG. Now, you're a CEO...or a boss"
Now, instead of Def Jam having to do all the leg work, and pay the cost, to find Meek Mill, Rick Ross does it. Then Ross develops Meek Mill, gets his buzz going, takes him on tour and only brings him to the major when Meek Mill is ready to do numbers. Saves the major money and time. And no more dealing with artists.
Majors are like the Godfather and these label deal rappers are the underbosses who manage soldiers. The Godfather delegates via the underbosses and only deals with the soldiers when absolutely necessary. But they still determine when the album gets released, the "image" and what the budget is.
Peace
You definitely got the artist development right but the artist creates their own LLC and are usually in partnership with these major labels so they get a significant portion of their underlings income.