New topic
Printable| Author | Message |
Do you think youtube could have saved Prince form his current debt? Instead of fighting against youtube, he could have used it to his advantage. Prince's youtube video hits would have been in the tens of millions by now, imagine if he had put an itunes link underneath all those videos featured. Imagine if he had his vault available on itunes and had made performance videos for them and put those on youtube. He would be making a killing and probably wouldn't be in the debt he is in now....and if he was it would be as bad as it is now. At least he would be profiting from his work...instead of getting all his bootlegs ripped and downloaded from people like me.  I think his. "mine mine mine....you cant have it" attitude has bitten him in the ass and he's too stubborn to admit it. He fought like hell for years to keep people from getting to his precious unreleased songs, and for what? Sorry P..we got em anyway... and what does he have to show for it...he's still in debt and his bottlegs are still being ripped for free, and I still have access to all his videos. I dont think he really thought his moves out thoroughly as far as potential internet sales go. | |
- E-mail - orgNote -  Report post to moderator |
How do you know Prince is in debt?  We don’t mourn artists because we knew them. We mourn them because they helped us know ourselves. | |
| - E-mail - orgNote - Report post to moderator |
Genesia said: How do you know Prince is in debt?
I was gonna ask the exact same thing! | |
| - E-mail - orgNote - Report post to moderator |
Genesia said: How do you know Prince is in debt?
Why are there so many stories in the news about him owing money and failing to make payments on properties? You think I'm just pulling this out the sky for shit and giggles? | |
| - E-mail - orgNote - Report post to moderator |
| Moderator
|
He is indebted to several entities, but there's no source of income, even the mighty youtube video, that forces a person to pay their bills.
So to answer your question; no. Studies have shown the ass crack of the average Prince fan to be abnormally large. This explains the ease and frequency of their panties bunching up in it. |
| - E-mail - orgNote - Report post to moderator |
moderatorNo, because people on youtube don't actually buy anything.
Look at OK Go. They've made great videos that get youtube views in the tens of millions. They went from playing small clubs to playing slightly bigger clubs and small theaters. JERKIN' EVERYTHING IN SIGHT!!!!! | |
| - E-mail - orgNote - Report post to moderator |
Paris9748430 said: No, because people on youtube don't actually buy anything.
Look at OK Go. They've made great videos that get youtube views in the tens of millions. They went from playing small clubs to playing slightly bigger clubs and small theaters. OK Go doesnt have a back catalog of hits like Prince has. They are only known for a couple of songs which weren't really good songs...they just had clever videos for them...so remove the cool video and what do they have? Nothing worth buying...Prince doesnt have that problem. | |
| - E-mail - orgNote - Report post to moderator |
Gangstaglam said: Genesia said: How do you know Prince is in debt?
Why are there so many stories in the news about him owing money and failing to make payments on properties? You think I'm just pulling this out the sky for shit and giggles? You need to read. He owes property taxes - which is not the same thing as failing to make payments on properties. 
And the Croke Park thing isn't a debt. It's a judgment. There's a difference. We don’t mourn artists because we knew them. We mourn them because they helped us know ourselves. | |
| - E-mail - orgNote - Report post to moderator |
No, but if he'd sold vault stuff and concert DVDs or such on Lotu$flower, he'd surely be better off today. | |
| - E-mail - orgNote - Report post to moderator |
Genesia said: Gangstaglam said: Why are there so many stories in the news about him owing money and failing to make payments on properties? You think I'm just pulling this out the sky for shit and giggles? You need to read. He owes property taxes - which is not the same thing as failing to make payments on properties.
And the Croke Park thing isn't a debt. It's a judgment. There's a difference. LMAO, try telling that to the sheriff when he shows up at your door to collect on a judgement. "But sheriff! You can't take all my stuff! This is a judgement, not a debt! Also, I have a special Wisconsin condo loan so I'm immune from your left-wing collection techniques!"  | |
| - E-mail - orgNote - Report post to moderator |
Genesia said: Gangstaglam said: Why are there so many stories in the news about him owing money and failing to make payments on properties? You think I'm just pulling this out the sky for shit and giggles? You need to read. He owes property taxes - which is not the same thing as failing to make payments on properties.
And the Croke Park thing isn't a debt. It's a judgment. There's a difference. But he's been delinquent with payments correct? I mean I did read the word "delinquent" correctly didn't I? | |
| - E-mail - orgNote - Report post to moderator |
Gangstaglam said: Genesia said: You need to read. He owes property taxes - which is not the same thing as failing to make payments on properties.
And the Croke Park thing isn't a debt. It's a judgment. There's a difference. But he's been delinquent with payments correct? I mean I did read the word "delinquent" correctly didn't I? There are only two reasons one is delinquent on property taxes: 1. They can't pay them; or 2. They dispute the amount owed. A possible third reason is that whomever is in charge of their business affairs neglected to pay them for reasons unknown. | |
| - E-mail - orgNote - Report post to moderator |
RodeoSchro said: Genesia said: You need to read. He owes property taxes - which is not the same thing as failing to make payments on properties.
And the Croke Park thing isn't a debt. It's a judgment. There's a difference. LMAO, try telling that to the sheriff when he shows up at your door to collect on a judgement. "But sheriff! You can't take all my stuff! This is a judgement, not a debt! Also, I have a special Wisconsin condo loan so I'm immune from your left-wing collection techniques!" I wish I could understand this pathological urge you have to bring yourself to my attention. We don’t mourn artists because we knew them. We mourn them because they helped us know ourselves. | |
| - E-mail - orgNote - Report post to moderator |
Genesia said: RodeoSchro said: LMAO, try telling that to the sheriff when he shows up at your door to collect on a judgement. "But sheriff! You can't take all my stuff! This is a judgement, not a debt! Also, I have a special Wisconsin condo loan so I'm immune from your left-wing collection techniques!" I wish I could understand this pathological urge you have to bring yourself to my attention. Honey, trust me - I avoid you like the [snip - there, saved you the trouble, Mars!]. But when you post something that's just out-and-out factually wrong, someone has to set the record straight. | |
| - E-mail - orgNote - Report post to moderator |
RodeoSchro said: Gangstaglam said: But he's been delinquent with payments correct? I mean I did read the word "delinquent" correctly didn't I? There are only two reasons one is delinquent on property taxes: 1. They can't pay them; or 2. They dispute the amount owed. A possible third reason is that whomever is in charge of their business affairs neglected to pay them for reasons unknown. Regardless of the reasoning it still amounts to being in debt...especially when you tack on the extra penalties and interest acquired. | |
| - E-mail - orgNote - Report post to moderator |
Gangstaglam said: RodeoSchro said: There are only two reasons one is delinquent on property taxes: 1. They can't pay them; or 2. They dispute the amount owed. A possible third reason is that whomever is in charge of their business affairs neglected to pay them for reasons unknown. Regardless of the reasoning it still amounts to being in debt...especially when you tack on the extra penalties and interest acquired. You are correct. And just so there's no misunderstanding, a judgement is a debt, too. In fact, it's the most serious form of debt there is, because it can be executed on by law enforcement. It's an indisputable debt. | |
| - E-mail - orgNote - Report post to moderator |
People make not paying property taxes out like its a big thing. Its not. Happens all the time. Check the county you like in, you will find the rolls filled with folks who didnt pay when the government wanted them to pay. They work it out.
Most people pay their property taxes as part of their mortgage. The typical mortgage payment includes your loan principal, loan interest, property insurance and property taxes. These monies go to the mortgage company (or whomever is servicing the loan) and they pay the insurance company and the property taxes. Chance are, Prince doesnt owe any money on these properties and it is up to his accountant to pay them. Furthermore, they are not likely to be in his name, but rather the name of a trust, holding company corporation of sorts. If Prince doesnt pay them, someone else likely will and charge Prince interest until he 'cures' the debt. He will likely have a couple years to cure it before it is even a real problem. On the judgement, its in England... unless Prince has assets there in the name of the concert promotion entity (trust, holding company or corporation), they will have a hell of a time collecting. This gives Prince and his people time to either negotiatie the judgement all together or file an appeal or tell the plantiff in this case - good luck finding any assets. People with money dont keep stuff in their real names. Real pimps dont make money, cuz the money goes to whatever entity you are using to sheild it from suits and liabilities. The only reason he prolly went to court was to comply with the local law and take a tax deductable vacation on the whole thing. One last thing on the property, chances are the property has depreciated in the last couple of years. Its possible that he may be disputing the government assessed value of the property in an effort to reduce his liabilities. If you own personally own a home and you have seen a recent drop in the value, you should check to see if a re-assesment is in order. [Edited 4/23/10 14:29pm] [Edited 4/23/10 14:30pm] | |
| - E-mail - orgNote - Report post to moderator |
I think the ammount of money that prince owes to taxes, the Croke Park hooha and whatever else will be a piss in the ocean financially 2 him. All this talk of him announcing gigs to get himself out of "debt" is all bollocks. The man is a multi millionare, i am not saying that these bills would not hurt him in the bank balance, but the notion of him being in debt and being broke is ridiculous. | |
| - E-mail - orgNote - Report post to moderator |
One of the worst things hes doing is keeping his videos of youtube. | |
| - E-mail - orgNote - Report post to moderator |
itsmrhappy said: People make not paying property taxes out like its a big thing. Its not. Happens all the time. Check the county you like in, you will find the rolls filled with folks who didnt pay when the government wanted them to pay. They work it out.
Most people pay their property taxes as part of their mortgage. The typical mortgage payment includes your loan principal, loan interest, property insurance and property taxes. These monies go to the mortgage company (or whomever is servicing the loan) and they pay the insurance company and the property taxes. Chance are, Prince doesnt owe any money on these properties and it is up to his accountant to pay them. Furthermore, they are not likely to be in his name, but rather the name of a trust, holding company corporation of sorts. If Prince doesnt pay them, someone else likely will and charge Prince interest until he 'cures' the debt. He will likely have a couple years to cure it before it is even a real problem. On the judgement, its in England... unless Prince has assets there in the name of the concert promotion entity (trust, holding company or corporation), they will have a hell of a time collecting. This gives Prince and his people time to either negotiatie the judgement all together or file an appeal or tell the plantiff in this case - good luck finding any assets. People with money dont keep stuff in their real names. Real pimps dont make money, cuz the money goes to whatever entity you are using to sheild it from suits and liabilities. The only reason he prolly went to court was to comply with the local law and take a tax deductable vacation on the whole thing. One last thing on the property, chances are the property has depreciated in the last couple of years. Its possible that he may be disputing the government assessed value of the property in an effort to reduce his liabilities. If you own personally own a home and you have seen a recent drop in the value, you should check to see if a re-assesment is in order. [Edited 4/23/10 14:29pm] [Edited 4/23/10 14:30pm] If Prince doesn't pay the property taxes, someone else can buy the debt. Whoever holds the debt can sue for payment, and if the debt is not paid, a judgement is entered and the creditor can take the property behind the judgement. In other words, if Prince doesn't pay, he could possibly lose Paisley Park. Penalties and interest on unpaid taxes are far higher than the interest rate on a bank loan. No person with a lick of sense would incur these penalties and interest on purpose. Unless Prince is dealing drugs, he's not earning as much on where ever he has the money invested that would pay these taxes as he is being charged for not paying. No municipal government wants to be a bank, especially in these times. They want to be paid and paid now, so they make their penalties and interest rates high enough to incent the property owner to pay as soon as possible. And if someone buys this debt and then gets a judgement, post-judgement interest is usually at least 12 percent and often-times as high as the law will allow (18% is the norm). Plus, the property owner owes ALL the legal costs to collect, and there is NO cap on what those might be. So again, no one would EVER choose this route as the most fiscally prudent. Because at the end of the day, Prince can still say "Get screwed! I ain't paying these taxes!" And if he did, he would certainly lose Paisley Park in a tax sale. If he's disputing the assessed value, there's a system for that. And that system allows for time for the dispute to be heard. But all that happens well before the county or municipality files a delinquent notice. So either Prince went for a new assessment and lost and still can't/won't pay, or he missed the window for protesting the value and now just can't/won't pay. I'm no expert on the Croke Park judgement, but several European orgers have said the promoter has a judgement executable in any European Union country. | |
| - E-mail - orgNote - Report post to moderator |
MikeyB71 said: I think the ammount of money that prince owes to taxes, the Croke Park hooha and whatever else will be a piss in the ocean financially 2 him. All this talk of him announcing gigs to get himself out of "debt" is all bollocks. The man is a multi millionare, i am not saying that these bills would not hurt him in the bank balance, but the notion of him being in debt and being broke is ridiculous.
I never said he was broke...his publishing royalties will keep him wealthy for a looong time. But when you start becoming delinquent there is a problem. My point is only that he would benefit greatly if he embraced sites like youtube instead of fighting against them.Back in the 80's we used to drive to Hollywood and pay for bootlegs 30 to 50 dollars a pop...now it only takes a mouse click. That cost him millions right there...with youtube he could make a great deal of money if he used it right. Same with Twitter also. Millions of hits can translate into major revenue. | |
| - E-mail - orgNote - Report post to moderator |
Gangstaglam said: MikeyB71 said: I think the ammount of money that prince owes to taxes, the Croke Park hooha and whatever else will be a piss in the ocean financially 2 him. All this talk of him announcing gigs to get himself out of "debt" is all bollocks. The man is a multi millionare, i am not saying that these bills would not hurt him in the bank balance, but the notion of him being in debt and being broke is ridiculous.
I never said he was broke...his publishing royalties will keep him wealthy for a looong time. But when you start becoming delinquent there is a problem. My point is only that he would benefit greatly if he embraced sites like youtube instead of fighting against them.Back in the 80's we used to drive to Hollywood and pay for bootlegs 30 to 50 dollars a pop...now it only takes a mouse click. That cost him millions right there...with youtube he could make a great deal of money if he used it right. Same with Twitter also. Millions of hits can translate into major revenue. My point was not directed at you in particular. It was a reaction 2 what is being said about his current financial situation in general.  | |
| - E-mail - orgNote - Report post to moderator |
Gangstaglam said: Genesia said: How do you know Prince is in debt?
Why are there so many stories in the news about him owing money and failing to make payments on properties? You think I'm just pulling this out the sky for shit and giggles? \ Yes, I do - or it is just a really dumb ass question to post. Pick one. | |
| - E-mail - orgNote - Report post to moderator |
The thing is that Prince could have done these things, but he would have had the same assholes running it, lets face it, he can put together a great band, but HE SUCKS ASS as a businessman and running the shop and making people do their friggin jobs. Which is why he is a Musician and not a businessman. So you may ask why can Jay Z and Diddy do it an not mr.Prince, Well one reason is they arent musicians, and there bread and butter and the only thing they make money on is clothing and their clubs and stores, Prince is from a different age, when that bullshit didnt matter, which is why he couldnt make a club work or a fashion line.
There is NO WAY Prince could have handled the volume of sales that would have generated from dvds and cds unavailable. Shit they fucked up Crystal Ball and Lotus T Shirts and you want them to handle the volume of distribution that Pearl Jam was doing when they sold every concert. The only way PRINCE could have made this work was with a label and someone like that behind him, Pearl Jam had SOny, because despite all there complaints they NEEDED someone to manage that volume, you think Eddie Vedder is going to sit in a room and box 73 concerts for a 100,000 fans. So as fans sure WE wanted these things for ourselves and it seems like 1+1 logic to do it, but from a business end, he aint a businessman, plain and simple. "We went where our music was appreciated, and that was everywhere but the USA, we knew we had fans, but there is only so much of the world you can play at once" Magne F | |
| - E-mail - orgNote - Report post to moderator |
I don't think he needs saving...I think it is sloppy management and sloppy oversight of his own business practices that puts P in this situation! | |
| - E-mail - orgNote - Report post to moderator |
Brofie said: Gangstaglam said: Why are there so many stories in the news about him owing money and failing to make payments on properties? You think I'm just pulling this out the sky for shit and giggles? \ Yes, I do - or it is just a really dumb ass question to post. Pick one. If it was such a dumb ass question to post you wouldn't be the only one thinking it was..... so maybe you're dumb ass for replying to a topic you seem to find so meritless. | |
| - E-mail - orgNote - Report post to moderator |
| Moderator
|
Gangstaglam said: Brofie said: \ Yes, I do - or it is just a really dumb ass question to post. Pick one. If it was such a dumb ass question to post you wouldn't be the only one thinking it was..... so maybe you're dumb ass for replying to a topic you seem to find so meritless. Now, now play nice.  It's going to be the weekend already! Don't spoil it for everyone else   
Ohh purple joy oh purple bliss oh purple rapture! REAL MUSIC by REAL MUSICIANS - Prince "I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben |
| - E-mail - orgNote - Report post to moderator |
luv4u said: Gangstaglam said: If it was such a dumb ass question to post you wouldn't be the only one thinking it was..... so maybe you're dumb ass for replying to a topic you seem to find so meritless. Now, now play nice. It's going to be the weekend already! Don't spoil it for everyone else This site has way too many shit-starters imo. This is about the 5th time I've had to deal with some smart-ass always initiating insults. I dont get it.. I'm like "If you dont like the topic, dont talk shit..just ignore the damn thread."  | |
| - E-mail - orgNote - Report post to moderator |
This entire thread is ludicrous. It asks about Prince's "current debt." Do people know what debt means? I've never seen a single article anywhere suggesting Prince is "in debt." | |
| - E-mail - orgNote - Report post to moderator |
|
Seriously, anyone who thinks Prince hasn't paid this money because he can't afford to is hilariously wrong and has absolutely no idea how much money he makes from:
Radio/TV/Internet Royalties Album sales Royalties on songs that have sampled him, and people who have covered his songs You could add up every single amount that we know Prince currently owes, on property taxes, the Ireland settlement, etc, double it, and it STILL would only be a fraction of the yearly income he makes WITHOUT touring. |
| - E-mail - orgNote - Report post to moderator |
