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| posted on 3/9/2012 at 11:55 AM|
|Sony Pays $8 Million to Settle with Allman Brothers, Cheap Trick|
Artists wanted half of net receipts on downloads
By Rolling Stone
March 9, 2012 11:00 AM ET
Sony has paid a $8 million settlement to a group of musicians including Cheap Trick, the Allman Brothers Band and the Youngbloods, ending a five-year dispute over digital music revenue. A filing by the attorney in the class action suit on Wednesday reveals that the company will pay its artists a total of $7.95 million to resolve claims in the case, and the musicians will see a 3 percent bump in their royalty rates with respect to digital income.
Most of the money in the settlement will go to artists who have sold at least 28,500 total downloads in Apple's iTunes store, though a small fraction of the cash has been set aside for artists who have not sold well in the format. $2.5 million from the settlement will cover legal fees.
Artists eligible for this suit were signed to the label between 1976 and 2001 and have contracts with clauses stating that they receive 50 percent of net revenue for licensed music. A lawsuit on behalf of Eminem last year set a precedent that digital sales count as a license rather than a traditional sale, as is the case with LPs and CDs. A number of other artists, including Peter Frampton, Toto, Public Enemy and Kenny Rogers, are also pursuing similar legal battles hoping to score unpaid royalties and improve their rate in the future.
Read more: http://www.rollingstone.com/music/news/sony-pays-8-million-to-settle-with-a
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| posted on 3/9/2012 at 12:07 PM|
|Nice to see this happen, tho it never should've in the first place -- a good piece of news to start the run with|
what's that Hunter Thompson quote (Capn uses it in his sig line) -- "there's the underhanded, the devious, the lowlifes -- then there's the music business" very loosely paraphrased
"I know y'all came to hear our songs, we like to play 'em for you but without Gregg here it's really hard for us to do. He sings & plays so much & does such a good job. He's really sick, 103* He might've come, but no one would let him." Duane
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| posted on 3/9/2012 at 12:29 PM|
|W00t! Maybe Moogis will be back now, hardee har har har...|
I am glad they got their money though.
I think about how many times and in how many formats I've bought albums, it's nice to know the artist will actually get their due.
Do not panic!
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