networkn: I don't think the words largest music pop icons consider they "sold their soul to Satan".
If you look at how much the creators actually get left with as apposed to the record companies, then if its not "sold their souls to Satan" it sure is a tough and bad deal for a lot of them.
A couple of references:
George Michael vs Sony
Prince "Record contracts are slavery"
Its an industry were the artist often have a manger that takes a 20% cut from income, as well as record companies that have a 80% share of revenue and where the artist have to cover all expenses. So the "million dollar" contract actually turns out being pocket change when everyone else have taken their piece of the pie.
Artists going broke isn't an uncommon thing.
One example: The bankrupcy of TLC