Is it true that American Idol takes 50% of the top l0 future earnings?

Question

I sing and wanted to interview for American Idol, but I've been told not to, because they make u sign a contract giving them 50% of your future earnings for l0 years, Is this ture???

Answer 1

I don't know, but I doubt it.  That would be highway robbery.  I can't see that many contestants, or their families, falling for it.

Answer 2

If they do that would be very greedy considering their take on the millions of phone votes called in at a dollar a pop....