Never thought I’d have reason to say this, but I’m siding with Fred Durst and Limp Bizkit on this one!
“Three decades after it rose to prominence, the band and its founder, Fred Durst, alleges that Universal Music Group (UMG) owes more than $200m after fraudulently concealing royalties from the band.”
https://www.theguardian.com/music/2024/oct/13/limp-bizkit-universal-music-group-lawsuit?CMP=aus_bsky
#music #metal #rock #capitalism #FredDurst #LimpBizkit @music
Basically the entire tone of the article after they introduce their “expert” that used to be an executive at UMG is that it’s all a big mistake. I hope they don’t settle and all the dirty laundry is set to dry in public.
@ajsadauskas @music Imagine it’s 1987. Through the graces of one’s connected attorney (getting 10? 15? percent) one has a label deal. A suit comes by and says track 8 on the new album sounds good, let’s hire a hotshot production company/director and budget 300k for the video. It gets modest rotation on MTV and 100k more albums sell. $3 per unit profit, $1 per unit royalty. Label is +300k, Band is down 200k. Video costs are recoupable and is collected before the band gets a check.
@pomCountyIrregs @music Great explanation ☺️
And from the sounds of it, UMG has now just allegedly turned around and said: 'Whoopsies! Software bug! Trevor from IT forgot to install that last floppy disk!
‘Sorry guys, we hadn’t been tallying your YouTube/Spotify/whatever streams these past 20-odd years! Genuine mistake!’
One wonders at a software bug that affects one band owed nine figures from decades ago.
@pomCountyIrregs @music “Accidentally”.
Just out of curiousity, has PCI ever been signed to a record label?
Do you see much in the way of royalties from the likes of Spotify or YouTube?
And do artists get much of a cut through Bandcamp?
With Kid Rock getting all this Republican attention and Limp Bizkit suddenly back in the news, are Korn and Smashmouth gonna cosponsor a save the whales initiative? Is P.O.D. gonna open a Planned Parenthood? Are the Kottonmouth Kings gonna open a soup kitchen?I’m so confused!
@ajsadauskas @music Book by Rebecca Giblin and Cory Doctorow “Chokepoint Capitalism” https://chokepointcapitalism.com/
