Musicians and Royalties
Discussion
Evening folks. I hope all is well.
Something got me thinking over the weekend. I was Googling Shane MacGowan who was sadly lost 12 months ago and I looked at his Wikipedia page.
It states on there, and whether that is an accurate source?
He left £850 K in his will to his wife. I honestly didn’t think that was a lot, considering what the royalties Fairy Tale of New York pull in every year. Forever.
I appreciate the Pogues had a few members at the time of that singles release, I wonder if the royalties are split between them all on that one.
If so a magnanimous gesture from Shane as he wrote it.
Any ideas?
Something got me thinking over the weekend. I was Googling Shane MacGowan who was sadly lost 12 months ago and I looked at his Wikipedia page.
It states on there, and whether that is an accurate source?
He left £850 K in his will to his wife. I honestly didn’t think that was a lot, considering what the royalties Fairy Tale of New York pull in every year. Forever.
I appreciate the Pogues had a few members at the time of that singles release, I wonder if the royalties are split between them all on that one.
If so a magnanimous gesture from Shane as he wrote it.
Any ideas?
For everything he wrote (and that is composed, or wrote lyrics for... not played on) by himself, he'll be paid 100% of royalties (unless he had written into contracts otherwise). If he co-wrote, then he'll get the percentage that's due.
However, his estate (family) will get royalties for 70 years after his death, so the £850k won't be the major part of the money left.
(Also, we don't know how much money he spent whilst alive - I get decent royalties, but spend much of them on cars!!)
However, his estate (family) will get royalties for 70 years after his death, so the £850k won't be the major part of the money left.
(Also, we don't know how much money he spent whilst alive - I get decent royalties, but spend much of them on cars!!)
Edited by GetCarter on Monday 2nd December 17:45
Jim H said:
He left £850 K in his will to his wife. I honestly didn’t think that was a lot, considering what the royalties Fairy Tale of New York pull in every year. Forever.
This bit in the article may give a clue "He was a famously voracious consumer of drugs and prone to physical trauma"Assuming that's the case he did well to leave €850k. Presumably his rights to Fairy Tale of New York passes to his wife and she may spend the money more wisely?
GiantEnemyCrab said:
Spotify royalties are utterly miniscule, so it will be radio / adverts only at a guess? Radio listeners are also decreasing a bit?
I read that Noddy Holder brings in half a million in royalties every year for "that song", so if that's still true, Fairytale can't be that far behind in terms on radio play on the BBC at least. I wonder if that's diluted at all from the recent lyrical rewrite, as someone must have written that new bit. Or perhaps changing three words is sufficiently minor as to not matter - I seem to recall Sting gets all the songwriting royalties for the P Diddy version of "Every breath you take" even though virtually all the lyrics are different. Probably not, then.droopsnoot said:
I read that Noddy Holder brings in half a million in royalties every year for "that song",
It's clearly a timeless song that will have long term value, albeit seasonal.Wouldn't the sensible thing be for him to sell his rights to the song when he's getting close to checking out so his kids get a lump sum? Seems various songwriters have done this recently, selling to companies that specialise in buying the rights to songs as long term investments.
jonsp said:
Wouldn't the sensible thing be for him to sell his rights to the song when he's getting close to checking out so his kids get a lump sum? Seems various songwriters have done this recently, selling to companies that specialise in buying the rights to songs as long term investments.
In the short term yes, the lump sum would be very tempting, but a continued income stream for decades would accrue far more (which is why companies try and buy the rights), so it's a close call.About 20 years ago the company I mostly worked for at the time (Universal) offered to buy all the rights to my music and dangled a large sum in front of my eyes. I contacted a music specialist lawyer to discuss and he advised against the proposal. (And charged me for a one word answer!)
Bloody glad I didn't go for it... though I was seriously tempted.
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