Thoughts on Mick's New Book

[Newzchspy]

Originally Posted by michelej1

It's interesting that Mick says that before Tango, he'd filed bankruptcy but all it took was the royalties from record sales of their catalog to keep him comfortable and get him financially back on his feet, because the band wasn't doing anything for those 5 years to make new money.

So, although if you keep spending you keep needing money, it seems like those royalties are really, really lucrative if all you need to do is maintain. I'd like to know how much they all get a year from catalogue royalties.

Michele

Then or NOW?? The real money $$ NOW is in touring and writing music (although tours can be very expensive, there's the Band's Guarantee that each person gets even before expenses.) The promoters and venue gets the rest from Beer sales, part of the merchandise, tickets sales, sales tax etc.

Then? Well the money has always been in owning the songs and publishing and to a certain extent the TOUR. The long term "annuity" and money for the band is in music publishing, rights and song "ownership."

Catalog royalties ONLY occur if the music is used or sold and depend upon who/whom owns the rights?? Often its the record company that owns it once the artist/author signs away their rights for $$.