
10-15-2010, 12:16 PM
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Addicted Ledgie
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Join Date: May 2003
Location: New York, NY
Posts: 4,834
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Quote:
Originally Posted by louielouie2000
Stevie has done countless corporate/private events like this. So it seems like a natural progression for Fleetwood Mac to do such a thing.
Regarding them "not needing the money"... I wouldn't be so sure. Remember artists get paid a very, very tiny portion of their album sales (we're talking just pennies per each album sold). I'd have to imagine for someone like John McVie, his portion of that is almost negligible since he's neither a singer, songwriter, nor a manager. Most bands make true money in touring. But knowing the breakdown of the band's salaries, John and Mick reportedly get 15% each of the profits, while Lindsey gets 30% and Stevie gets a staggaring 40%. Keep in mind, all of this is AFTER the promoters, lawyers, venues, managers, et al have been paid. Let's also keep in mind all the band members live in extremely expensive areas (LA and Hawaii), and half of the band have very young children to tend. Since Stevie has no children and has a profitable solo career, she likely is good to go financially... but what about Mick and John? Mick has battled money problems all his life. He was dealing with bankruptcy as late as the '90s... I'd highly doubt he's got a huge nest egg these days. I'd suspect the only reason the band toured last year was to supplement incomes since the world is in recession, and I'm betting the band's stock & 401k portfolios were taking some serious hits.
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I highly doubt Mick and John are exactly bumming for extra change on Sunset. They each made at least $5 million on tour last year. And even though their share of album royalties is not as high as Stevie/Lindsey/Chris, they still get a little something- probably enough to make ends meet every month. After all, "Fleetwood Mac" is credited as the producer for the hit albums that matter, so Mick and John certainly participate in those royalties. And it's conceivable that John has been a very modest mouse and has been prudent about saving and investing. I think they are doing this gig (wherever it may be held) simply because the money was too good to pass up. I wouldn't be surprised if they are pulling in as much money for this one show as they would pull in for a string of tour dates.
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