I think the way I would tackle this would be a non-hierarchical taxonomy. That would allow you to tag the artist and such as well as give you a few fields to work with for basic data input…you also have the ability to expand, should you need it. If you’re going to have a lot of terms and you need additional fields, I think I would store those in a custom table for ease of access and to keep clutter down in wp_options. I can provide pseudo code for any of the above implementation.
