https://www.rollingstone.com/music/music-features/f-ck-it-well-take-the-bet-the-gold-rush-to-sign-the-next-rap-god-699707/

TL;DR - Labels are throwing cash at yet-to-brake MC's hoping that one of them will break. Since streaming revenue is building and a hot album is potentially worth more in revenue than the money taken in from one CD, labels think getting one big act can continue to bring in money for the label far down the line.

MC's can look at user metadata from social media and streaming services and dictate to the labels their worth rather than letting labels start with a figure.

Also, while the record industry is starting to grow, it's likely that the money spent on new deals will cause a bursting bubble at some point.

<--- Me when my head hits the pillow