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$30M For Prince's Vault?? What in the hell was Londell thinking? The Wall Street Journal is a serious news source. This is appalling. https://www.wsj.com/artic...1490693407 | |
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Well, I'm not signed up for the WSJ so I don't know what it says. | |
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It basically says that the other labels were shut out of the bidding and Mcmillan rushed to get the deal done and the vault could have been sold for a lot more. Also says that very little info about the vault was provided to bidders. What in the heck were they doing? I guess the reports that the vault was not inventoried are true. This is bush league. | |
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Billboard offered $40mil, JayZ offered $35mil, so somebody had access to bidding. But they settled on $30mil? Some information has to missing in this. | |
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It's not a bad price. See, they aren't just buying it to buy it. They're buying it in order to profit from it, like Prince did. There's a lot to be released. The estate will get royalties of course, as will (possibly?) the musicians on the records (NPG people, SOTT band, Revolution, etc) for performance. Also, songwriting credits to anyone else listed will get a paycheck, too. "  don’t really care so much what people say about me because it is a reflection of who they r." |
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Given all the tweets that were given when the Billboard estimate came out, if this is completely true then fans are being thrown off the trail in a lot of matters. | |
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jebus. they could have got more on kickstarter if they'd promised to upload and true love lives on lollipops and crisps | |
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Or the reports of damaged tapes and unfinished songs are true, and it's going to cost many millions more to restore/mix a lot of what they have into a useable condition.  And the MUSIC continues...forever... | |
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Who knows what Llondel was thinking....and 30 Million seems way too little, but Prince wont be caring, and his familyit seems will always fnd a few more things to squabble over.
Meanwhile Universal will be making damn sure they recoup their investment and the only way to do that is release Princes music....Hopefully in more creative ways than Prince 4 Eva
all in all...so long as his music gets out there we should be happy.
Money never mattered anyway
since Prince is no longer physically present I dont really care who profits from it...
I want more people to recognise his Brilliance and I want to be able to talk about it in Real Life...
I have only one person in my Physical world who Gets Who Prince was...
Do whatever it takes to Let the next generation Hear the Origins of the Music many of them are now listening too...
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Funniest COMMENT Ive read on the org in ages...
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. [Edited 3/28/17 18:07pm] | |
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wheres the real value?? he doesnt have that many rich fans who will pay for everything... | |
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Well, it's not legit but it's the only freely available source.... DID UNIVERSAL SCORE A PRINCE-LY DEAL?
Did a lack of a legitimate bidding help Universal Music Group score a bargain-basement price on the licensing rights to Prince’s vault of unreleased music? Some folks intimate with Prince’s estate think so. In January, Universal won the licensing rights to Prince’s trove of tracks he legendarily kept under lock and key, but people familiar with the matter say there wasn’t much of a bidding war, according to a report in the Wall Street Journal. The auction process is raising questions among people close to Prince’s estate about whether the rights could have been had for more than the $30 million that they said Universal agreed to pay. Because Prince left no will, the rights to his homemade recordings was sealed after his death. Universal, Sony Music Entertainment and Warner Music Group each expressed interest in the recordings, but the estate’s interim administrator submitted only Universal’s proposal; Sony claims it never got a chance to bid, and Warner, Prince’s home for his first 18 albums, asked but didn’t receive requested details, according to the report. This agreement, as well as two prior deals with Universal, was made on behalf of the estate by Prince’s ex-lawyer Londell McMillan and former EMI exec Charles Koppelman, who have been serving as advisers to the estate. At the time the deal was made in January, McMillan said he felt like he needed to rush to close the deal due to an impending tax payment owed by the estate. Even as Comerica Bank & Trust has taken over as estate administrator, McMillan has stayed on as a business adviser to four of the songwriter’s six heirs–two of them, Prince’s younger sister Tyka Nelson and half-brother Omarr Baker, have been opposed to his continued role. Nelson and Baker have argued that McMillan’s deal-making has been done not to enhance revenue for the estate but for his own self interest. They are repped by CNN’s Van Jones, a former adviser to Prince. Stay tuned.
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people wont even buy his hits...they gonna buy unreleased songs??? only freaks on THIS site will | |
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donnyenglish said: What in the hell was Londell thinking? The Wall Street Journal is a serious news source. This is appalling.
https://www.wsj.com/artic...1490693407 Well this is a licencing deal and if no one really knows the entire contents I would say it was a fair price. Royalties will be coming into the estate and UMG will get their cut so money will be made. I think the biggest fear is that at some point UMG will want to buy everything outright like they did with the Motown catalog. [Edited 3/28/17 18:17pm] | |
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luvsexy4all said: wheres the real value?? he doesnt have that many rich fans who will pay for everything... --Speak for yourself. | |
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the PR reissue will speak for the vault | |
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You could buy a nice Cy Twombly for that. Double Peace | |
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luvsexy4all said: people wont even buy his hits...they gonna buy unreleased songs??? only freaks on THIS site will This is my concern/fear. I dont think its a slam dunk that vault releases are going to gain him a lot of new fans. All of us here of course want more of his music and will likely gobble it up. Because we are already familiar with his genius thanks to years in the trenches being Prince fans, and while it was all happening in real time. We got to see the corresponding music videos and the live performances of his music that we owned. New fans arent going to have that important piece of the total experience. I think for new and maybe especially younger listeners they need that visual reinforcement if that makes sense? Personally over the years there have been songs i was just meh about. But then you see a live version that just blows your mind and suddenly that song gets deeper appreciation. (Sorry if this strayed too far off topic but it's something ive been thinking about more as we see baby steps in progress towards vault releases.) It's a hurtful place, the world, in and of itself. We don't need to add to it. We all need one another. ~ PRN | |
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donnyenglish said: It basically says that the other labels were shut out of the bidding and Mcmillan rushed to get the deal done and the vault could have been sold for a lot more. Also says that very little info about the vault was provided to bidders. What in the heck were they doing? I guess the reports that the vault was not inventoried are true. This is bush league. Who is leaking this to the WSJ and how do we know it's true? I'm not suggesting the WSJ is making it up but Londell and Koppelman are the only ones going on record about this stuff. Everything else is from anonymous sources. So are members of the family leaking this and do we trust they're telling the whole & accurate story? Why is it that only Londell and Koppelman will go on record? Paisley Park is in your heart
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sonshine said: luvsexy4all said: people wont even buy his hits...they gonna buy unreleased songs??? only freaks on THIS site will This is my concern/fear. I dont think its a slam dunk that vault releases are going to gain him a lot of new fans. All of us here of course want more of his music and will likely gobble it up. Because we are already familiar with his genius thanks to years in the trenches being Prince fans, and while it was all happening in real time. We got to see the corresponding music videos and the live performances of his music that we owned. New fans arent going to have that important piece of the total experience. I think for new and maybe especially younger listeners they need that visual reinforcement if that makes sense? Personally over the years there have been songs i was just meh about. But then you see a live version that just blows your mind and suddenly that song gets deeper appreciation. (Sorry if this strayed too far off topic but it's something ive been thinking about more as we see baby steps in progress towards vault releases.) And I don't trust his family when it comes to this. I hope they bring in the right people to oversee the vault. I read a story that said Tyka wants Trevor Guy overseeing it. But I don't think it should be only one person. I know some of his engineers like Dave Hampton have offered to be involved. I think Jimmy Jam has as well. Paisley Park is in your heart
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rogifan said: sonshine said: This is my concern/fear. I dont think its a slam dunk that vault releases are going to gain him a lot of new fans. All of us here of course want more of his music and will likely gobble it up. Because we are already familiar with his genius thanks to years in the trenches being Prince fans, and while it was all happening in real time. We got to see the corresponding music videos and the live performances of his music that we owned. New fans arent going to have that important piece of the total experience. I think for new and maybe especially younger listeners they need that visual reinforcement if that makes sense? Personally over the years there have been songs i was just meh about. But then you see a live version that just blows your mind and suddenly that song gets deeper appreciation. (Sorry if this strayed too far off topic but it's something ive been thinking about more as we see baby steps in progress towards vault releases.) And I don't trust his family when it comes to this. I hope they bring in the right people to oversee the vault. I read a story that said Tyka wants Trevor Guy overseeing it. But I don't think it should be only one person. I know some of his engineers like Dave Hampton have offered to be involved. I think Jimmy Jam has as well. It's a huge job for one person. I'm sure Trevor is a great guy (no pun? intended) but hopefully even if he is put in charge he will appreciate the scope of the task and bring others into it that could be of help. I believe Jimmy jam was one of the first who expressed interest in handling the vault. Seemed like a logical choice, but  It's a hurtful place, the world, in and of itself. We don't need to add to it. We all need one another. ~ PRN | |
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luvsexy4all said:
the PR reissue will speak for the vault --What on God's green earth are you babbling about? | |
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rogifan said: donnyenglish said: It basically says that the other labels were shut out of the bidding and Mcmillan rushed to get the deal done and the vault could have been sold for a lot more. Also says that very little info about the vault was provided to bidders. What in the heck were they doing? I guess the reports that the vault was not inventoried are true. This is bush league. Who is leaking this to the WSJ and how do we know it's true? I'm not suggesting the WSJ is making it up but Londell and Koppelman are the only ones going on record about this stuff. Everything else is from anonymous sources. So are members of the family leaking this and do we trust they're telling the whole & accurate story? Why is it that only Londell and Koppelman will go on record? ---Sorry but the sibs have already gone to the court with their issues with Londell and his deal making. He was not made the personal representative for a reason. | |
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Bear in mind that this is a licensing deal.
There is not as much money in reissues as you'd think, having been involved in some behind the scenes. People just don't buy physical product as much as they used to. So $30 million's not that bad, and sounds about right. | |
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jjam said: Bear in mind that this is a licensing deal.
There is not as much money in reissues as you'd think, having been involved in some behind the scenes. People just don't buy physical product as much as they used to. So $30 million's not that bad, and sounds about right. --/Co-Sign | |
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rogifan said: donnyenglish said: It basically says that the other labels were shut out of the bidding and Mcmillan rushed to get the deal done and the vault could have been sold for a lot more. Also says that very little info about the vault was provided to bidders. What in the heck were they doing? I guess the reports that the vault was not inventoried are true. This is bush league. Who is leaking this to the WSJ and how do we know it's true? I'm not suggesting the WSJ is making it up but Londell and Koppelman are the only ones going on record about this stuff. Everything else is from anonymous sources. So are members of the family leaking this and do we trust they're telling the whole & accurate story? Why is it that only Londell and Koppelman will go on record? If this were another mees source I would question it. But the WSJ is not fakw news and does their research before reporting. | |
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Staying with Universal also seems to simplify the business dealings for the family. | |
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laurarichardson said: rogifan said: Who is leaking this to the WSJ and how do we know it's true? I'm not suggesting the WSJ is making it up but Londell and Koppelman are the only ones going on record about this stuff. Everything else is from anonymous sources. So are members of the family leaking this and do we trust they're telling the whole & accurate story? Why is it that only Londell and Koppelman will go on record? ---Sorry but the sibs have already gone to the court with their issues with Londell and his deal making. He was not made the personal representative for a reason. Doesn't mean everything he's been involved with is shady or was done wrong. Who decided that Tyka and Omarr are without fault in all of this and are always making the correct decisions? Paisley Park is in your heart
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