[atlantaprog] solo artist development deals

I'm looking for some information here, from anyone who has first- or 
second-hand experience.  A friend has just gotten what is ostensibly a solo 
artist development deal with a guy who works for ASCAP/Sony Tree Publishing in 
Nashville.  It's a 1year/1year option for $30k + equipment allowance, where you 
record exclusively for this guy, who then tries to pitch you to record 
companies for a share of the publishing and record deal.  The problem is, 
various factors make me think the guy may be in it just to get the songs and 
pimp them out to an established artist, which would seem much easier than 
developing someone new from scratch.  (So the promise of 'artist development' 
would be possible, but mainly offered as a dangling carrot to get control of 
the songs.)
 
Does anyone have any experiences with this sort of thing that they could share? 
 What percentage of people signed to such deals actually go on to obtain 
recording contracts from it, as opposed to evolving into a songwriter-for-hire, 
or fizzling out?  I'm just curious for my own knowledge, because the friend has 
already agreed to do it.
 
Thanks,
Brian
 

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