$500m for Springsteen's Catalogue
Discussion
Why? Why now?
https://www.bbc.co.uk/news/entertainment-arts-5968...
Somewhere along the line, I've missed the logic of this. Is it estate forward planning? I wouldn't have thought any close family & collaborators would need to worry about financial security when Bruce, or any other successful older artist dies, but...
Is the alternative financial warfare between future generations & lawyers, arguing over re-issues, compilations, lost tapes, adverts & film scores? Is there a tax break? Anyone on here have any insight into this concept which seems to have suddenly arrived in the last few years?
Chs CF
https://www.bbc.co.uk/news/entertainment-arts-5968...
Somewhere along the line, I've missed the logic of this. Is it estate forward planning? I wouldn't have thought any close family & collaborators would need to worry about financial security when Bruce, or any other successful older artist dies, but...
Is the alternative financial warfare between future generations & lawyers, arguing over re-issues, compilations, lost tapes, adverts & film scores? Is there a tax break? Anyone on here have any insight into this concept which seems to have suddenly arrived in the last few years?
Chs CF
Honk said:
Did Bowie start all this in 1997?...Bowie bonds?
Sort of. He was generating a lumps sum & a yield from his catalogue and retaining ownership (I think) but this is a straightforward sale, with all rights passing to Sony or in other cases, music venture capitalists. Could be wrong mind…CardinalFang said:
Why? Why now?
https://www.bbc.co.uk/news/entertainment-arts-5968...
Somewhere along the line, I've missed the logic of this. Is it estate forward planning? I wouldn't have thought any close family & collaborators would need to worry about financial security when Bruce, or any other successful older artist dies, but...
Is the alternative financial warfare between future generations & lawyers, arguing over re-issues, compilations, lost tapes, adverts & film scores? Is there a tax break? Anyone on here have any insight into this concept which seems to have suddenly arrived in the last few years?
Chs CF
His music revenues were $15m last year. Given that his popularity could possibly wane over the next three decades, he'd almost certainly be dead before seeing that sort of return. I'm sure he's got his tax affairs nicely organised offshore.https://www.bbc.co.uk/news/entertainment-arts-5968...
Somewhere along the line, I've missed the logic of this. Is it estate forward planning? I wouldn't have thought any close family & collaborators would need to worry about financial security when Bruce, or any other successful older artist dies, but...
Is the alternative financial warfare between future generations & lawyers, arguing over re-issues, compilations, lost tapes, adverts & film scores? Is there a tax break? Anyone on here have any insight into this concept which seems to have suddenly arrived in the last few years?
Chs CF
Fair play to him.
PHZero said:
His music revenues were $15m last year. Given that his popularity could possibly wane over the next three decades, he'd almost certainly be dead before seeing that sort of return. I'm sure he's got his tax affairs nicely organised offshore.
Fair play to him.
Agreed - don’t have a problem with it at all. I guess it’s now a thing because VC’s and media conglomerates have recognised a new investment product. Fair play to him.
CardinalFang said:
PHZero said:
His music revenues were $15m last year. Given that his popularity could possibly wane over the next three decades, he'd almost certainly be dead before seeing that sort of return. I'm sure he's got his tax affairs nicely organised offshore.
Fair play to him.
Agreed - don’t have a problem with it at all. I guess it’s now a thing because VC’s and media conglomerates have recognised a new investment product. Fair play to him.
PHZero said:
I wonder if it will pay off for them! Half a billion dollars would require a lot of plays (~100 billion) on Spotify!
Well yes, there's that, but there's probably some huge Prince/Dylan-esque vault, plus decades of rehearsal room/live-from-the-mixing-desk, best-of/remix, as well as 20 studio & 23 live album-remastered physical product to ship....then the limited edition heavy pressing/multicoloured/NFT (I've no more than a vague idea what NFT means, but they're bound to be in there somewhere).Or at least that would be the basis of my pitch for getting a sign off on $500mill. (Whilst praying no--one spotted I was winging the whole thing....Media finance innit?)
Could be a couple things, if he was offered rather than if he enquired first would make a difference. "Hey Bob, you're 80 now, would you be interested in selling your catalogue to us for $500m?"
Can't imagine many artists that have peaked that'd turn it down.
don't know how it works where he lives/pays tax but it could be easier to deal with for his estate. He's got 6 kids according to wiki, likely easier for his estate to allocate funds(if they are getting any!) from a lump sum, rather than after his passing, where the values of these things would fluctuate massively, disputes between estate management/family members. That's my most likely thought.
Can't imagine many artists that have peaked that'd turn it down.
don't know how it works where he lives/pays tax but it could be easier to deal with for his estate. He's got 6 kids according to wiki, likely easier for his estate to allocate funds(if they are getting any!) from a lump sum, rather than after his passing, where the values of these things would fluctuate massively, disputes between estate management/family members. That's my most likely thought.
PHZero said:
CardinalFang said:
PHZero said:
His music revenues were $15m last year. Given that his popularity could possibly wane over the next three decades, he'd almost certainly be dead before seeing that sort of return. I'm sure he's got his tax affairs nicely organised offshore.
Fair play to him.
Agreed - don’t have a problem with it at all. I guess it’s now a thing because VC’s and media conglomerates have recognised a new investment product. Fair play to him.
I think it's a case of estate planning and decision making to protect his kids. This deal means his kids benefit financially without having to get involved in managing his legacy. It leaves them free to pursue their chosen careers.
Early in his career Bruce was involved in a long, ugly, bitter legal dispute with his former manager over the ownership of the publishing rights to his songs. He was basically screwed over by the guy. This may be his way of protecting his kids from getting involved in that type of situation in the future.
Early in his career Bruce was involved in a long, ugly, bitter legal dispute with his former manager over the ownership of the publishing rights to his songs. He was basically screwed over by the guy. This may be his way of protecting his kids from getting involved in that type of situation in the future.
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