Prince is preparing to release new album HITNRUN as a Tidal exclusive on September 7.

His band, 3RDEYEGIRL, announced the project last month, describing it as an album that “definitely caters to those fans who just love to hear what Prince has to say, rather than wanting to always hear that classic Purple Rain Prince sound.”

Ahead of the album’s release, Prince held a rare gathering with a group of ten journalists at his Paisley Park Studios in Minneapolis. Mobile phones, recording devices and alcohol were all banned from the press conference.

The Purple One spoke about his partnership with Jay Z’s Tidal service and likened record contracts to slavery.

“Record contracts are just like — I’m gonna say the word – slavery,” Prince told the group of journalists. “I would tell any young artist … don’t sign.”

Prince explained that his deal with Tidal allowed him the creative freedom to collaborate with artists on songs which might appear elsewhere. He also stressed the importance of artists maintaining as much control over the revenue from their work as possible.

“Once we have our own resources, we can provide what we need for ourselves,” he said. “Jay Z spent $100 million of his own money to build his own service. We have to show support for artists who are trying to own things for themselves.” [via NPR]