Whatever Michael Jackson’s actual debts were at the time of his death (some articles put it at approximately $400 million) may be a moot point once the royalties start rolling in. A good portion of these royalties are being accumulated while we speak, with millions of records and songs being purchased/downloaded since his death. Because of his early success, he was able to negotiate a much more favorable royalty rate for his recordings than your average artist. And in September, with the Beatles’ catalog being re-released and the the group’s Rock Band edition game going on sale, the Jackson estate looks to have an almost unimaginable windfall since Michael was part owner of the the Beatles’ publishing.
king of new york download free Jackson should join the ranks of such legendary artists like Elvis Presley who make more money on their recordings and memorabilia after death than when they were alive. But the real lesson here for aspiring artists is the value of your music, both the recordings and publishing. The latter goes back to the days of sheet music where signing a publishing agreement for your original music was a way for you to get paid for your music, and later on, to have your songs recorded by famous artists. In the 1950’s when Frank Sinatra was looking for worthy songs to record, the A & R (Artist & Repertoire) guy at the label would reach out to the big publishing companies who would come back with their top writer’s material. That worked for Elvis as well but artists like Chuck Berry and Buddy Holly opened the door to artists actually writing their own music eventually leading to the Beatles who not only wrote their own hit songs, but wrote for others as well. Unfortunately for the Beatles, their manager Brian Epstein thought they should have a publisher for the latter and Dick James Music walked away with a one of the sweetheart publishing deals of all time. This was the catalog eventually purchased by Jackson for $47.5 million with an estimated worth today of over a billion dollars! парнушка
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In the late 1970’s, when the band I was in, Gambler, signed our first major deal, we owned our own publishing company, Too Rock. We ended up splitting our company with Colgems (a division of the label we were signed to, EMI) for a large advance. That’s the way it was until the music industry imploded. Now it’s tougher to get decent money for unproven songs, even if you own your own publishing. Nowadays labels are forcing artists into “360″ deals where they own a piece of the artists income - from publishing to touring to merchandising, and of course, the recordings. But the labels know that’s one of the ways they can actually remain profitable when investing in new talent. And large conglomerates like Live Nation, can offer tens of millions for the same type of deal - that’s if you are famous enough that they will be willing to bet on your longevity. So the lesson we learn from Michael is that from the moment you enter the business - make sure you own your music. It may prove to be your most valuable asset to you, and your decedents.
8 Mile (2002) – Another formidable soundtrack written (and rapped) by the star of the film which became a perfect vehicle to showcase the cross-over talents of Eminem. Chock full ‘o future hits, The soundtrack debuted at # 1 and was one of the best selling albums of the year.
