Funny Money
Published September 25, 2002
I agree with her position on work for hire and the cluelessness of the majors vis a vis the web ¹. The rant is long, but well worth reading. Don't let her do your taxes, though. Love's music biz accounting is horrible, even if you use her numbers (which I wouldn't). There is plenty of reason to hate the record companies without making shaky arguments. Shaky arguments you say? Shall we take a quick look-see?
This story is about a bidding-war band that gets a huge deal with a 20 percent royalty rate and a million-dollar advance. (No bidding-war band ever got a 20 percent royalty, but whatever.) This is my "funny" math based on some reality and I just want to qualify it by saying I'm positive it's better math than what Edgar Bronfman Jr. [the president and CEO of Seagram, which owns Polygram] would provide.
Actually, Seagram sold to Vivendi, and Jean-Marie Messier ² is the CEO of the group that owns PolyGram, not Edgar. Oh yeah, I forgot, Messier just resigned. Fair enough - I suppose it is kind of hard to remember who the players are without a program.
What happens to that million dollars?
They spend half a million to record their album. That leaves the band with $500,000. They pay $100,000 to their manager for 20 percent commission. They pay $25,000 each to their lawyer and business manager.
Why are you spending $500,000 to record the album? The top-flight studios are expensive because they provide highly pampered services. In the old days there was a reason to spend that money but now I have friends whose home studios are more sophisticated then Abbey Road was when the Beatles recorded Abbey Road. You don't have to spend near $500,000 getting a high quality album made these days.
That leaves $350,000 for the four band members to split. After $170,000 in taxes, there's $180,000 left. That comes out to $45,000 per person.
Why is the manager getting 20%? Managing "high maintenance" bands, they earn it, but really, why should they get an equal share? Also, what difference does it make that 50% ³ goes to taxes? Love makes it sound like it is the record company's problem that she pays here manager 20% or that she has to pay taxes. They pay taxes too. Besides, don't most artists support politicians that want to raise taxes? Note that although a solo artist has to pay taxes to, he doesn't have split his money with band members either.
That's $45,000 to live on for a year until the record gets released.
- Funny Money
- Published: September 25, 2002
- Type:
- Section: Music
- Filed Under: Music: News
- Writer: Martin Devon
- Martin Devon's BC Writer page
- Martin Devon's personal site
- Spread the Word
- Like this article?
- Email this
Save to del.icio.us
Comments on this articleComments
Anyone wanting to know where the money *really* goes should look no further than MixerMan's diary. For the uninitiated, MM is a recording engineer who's basically blogging the recording process of the first album for a big-hype major label group, with the names and some details changed to protect the guilty. Regardless of how clueless Courtney is, it's clear the labels are the cause of their own current slump.
OK, Ian, I followed your link and read a couple of entries. What is your point? If you think that by just reading MixerMan's diary "all will become clear" you are mistaken. Please explain your question/comment.
How disgusting that a man (Courtney had a sex change, there is viable proof) claimed to be married to this icon, after they (the COG cult) murdered him in 1990. Geffen (and his boyfriend Pitt, who was snogging Love too) helped "it" steal Cobain's songs and record them with her group. It is a mockery of talent and goodness. Courtney Love, your life is in ruins and soon you will be dead. As will everyone involved in the sacrafice of Kurt Cobain.
This is not Kurt Cobain's child, he had no children! Frances Bean belongs to Jennifer Aniston and Brad Pitt (yes, they knew each other long before they married). She is idenical to her parents, and strangly, ever whore Hollywood has ever produced. She is hideous.
Kurt had unearthly crystal colored eyes, that demon's eyes are grey just like it's real father, Brad.
Kurt Cobain was murdered in 1990, later Courtney Love (whose real mother is actually "Wendy" who falsly claims to be Cobain's mother) was paid-off to pretend to be married and have a child, all so that the Hollywood 3 could share in the reported 6 billion Nirvana has thus far grossed. Geffen was delighted by all of this, helping Courtney with her transgendering (She was once a male). The hundreds (no doubt thousands) that were and are involved in this horrid Sacrafice are paying-with their lives! Oh, how they shall pay for those crimes.
We love you Kurt.
Kurt Cobain was murdered in 1990, later Courtney Love (whose real mother is actually "Wendy" who falsly claims to be Cobain's mother) was paid-off to pretend to be married and have a child, all so that the Hollywood 3 could share in the reported 6 billion Nirvana has thus far grossed. Geffen was delighted by all of this, helping Courtney with her transgendering (She was once a male). The hundreds (no doubt thousands) that were and are involved in this horrid Sacrafice are paying-with their lives! Oh, how they shall pay for those crimes.
We love you Kurt.
It is just another Cult admission of guilt, a silly one at that (there is no G-d, and no jesus, but those are the cults false idols).
Just a hyme, a crust of bread thrown on the trail of murderers...
Ladies and gentlemen, Dave Grohl. Thanks, Dave. I always thought you were a funny guy in interviews :)
That is all.
Add your comment, speak your mind
(Or ping: http://blogcritics.org/mt/tb/890)
Nice job eagle eye business dude.