What is the recommended MVC design pattern for adding non-existent foreign key?

You are building an application where the user will add musical albums. A musical album has artist, record label, and category foreign keys which are each represented my their own respective models. On the create album page, the user will select through a drop downs the record label, category and artist. What happens if that artist or record label hasn't been entered yet?

Does the user have to go to the artist or record label view to add it first, then go back to the album page to create the album? Is there a better way to optimize the user process flow?

I had considered using a UI accordion that would be in the album view which would have panels for the album, artist, record label and category models. The artist, record label and category panels would start collapsed. If the user selects "Other" in the drop down for the artist, record label, category , the respective panel would expand and give the user the opportunity to enter the necessary fields to create the record label on the fly. Is this a bad idea? Are there other options I haven't considered that make the process easy for the user?