The "Music Mafia" is nicely shown in their true colours here, as regards artists royalties.http://news.yahoo.com/s/nm/20050602/music_nm/waits_dc
Third Story Music, a Los Angeles-based music publishing firm and the successor to the production company that managed singer-songwriter Tom Waits early in his career, has filed a federal suit against Warner Music Group, alleging that Waits has been shortchanged on the sale of digital downloads.
In 2003-04 royalty statements to Third Story, WMG computed royalties from Waits' digital download sales at the same (and much lower) rate as royalties from the sale of physical product. Under the terms of the '70s Asylum contracts regarding album sales, Waits would be entitled to either 9% or 13% of the 67 cents received by WMG from each 99-cent download.
Hmm I like looking at the figures here, as we all know how expensive it is to put music online dont we :roll:
So whatever the figure presented here the Cartel members gets 50 cents at the bare minimum for allowing others to market their music for them very nice.
My complaint ? Well I have 2 really
1) Why do the Cartel members never add this new download market into their figures when talking about there supposed
losses, they deliberately refer to CD sales to distort a simple profit and loss statement to suit their selves, If they had there way I expect they would say that they never got a dime profit on any Itunes sales :roll:
2) Why do they sell the music at this price but demand thousands from file sharers, and tell courts they have lost hundreds of thousands ?
I really feel this false accounting should be looked into as I,m sure many countries tax dept,s are being short changed too.