If you think the Michael Jackson/Beatles thing...
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...was bad, well - Sly Stone sold the rights of all his music to Michael Jackson for one million dollars and now he's homeless and lives out of a van
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rich n:
...was bad, well - Sly Stone sold the rights of all his music to Michael Jackson for one million dollars and now he's homeless and lives out of a van
well who's fault is that?
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if Sly got a Million Dollars, for selling his songs, he did not manage his Money well at all! that is what it looks like to me? or did someone "Mismanaged" his moneyfor him??? like his lawyer?? their are crooks out their!! you got to be careful and wise!! who you put in charge of your money!
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rich n:
...was bad, well - Sly Stone sold the rights of all his music to Michael Jackson for one million dollars and now he's homeless and lives out of a van
You can't blame that on Michael. :
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He should at least have a pimped out van with that amount of money.
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yeah i saw this on the news like 2 months ago, the people in that neighborhood wants him out and such. and i think the person hes parking in front of is letting him use his power (outleds) etc.
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blue jay hey:
yeah i saw this on the news like 2 months ago, the people in that neighborhood wants him out and such. and i think the person hes parking in front of is letting him use his power (outleds) etc.
Yes - that's the same story I heard. I guess the airing of this story last week must've been a rerun
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And he'd been playing some GREAT concerts in recent years, too. Doesn't he still get songwriting royalties? I know that he'd foolishly sold his copyrights out of desperation back in the '80s.
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Sly must have had a lot of parties in that van with all of the drugs that he bought!
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rich n:
...was bad, well - Sly Stone sold the rights of all his music to Michael Jackson for one million dollars and now he's homeless and lives out of a van
At least Sly is alive & living in a van, MJ is dead and resting in a wooden box, I'm sure if someone could contact Jackson from beyond he would say he would gladly swap places with Sly, as the old saying goes "you can't take it with you"
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audi:
And he'd been playing some GREAT concerts in recent years, too. Doesn't he still get songwriting royalties? I know that he'd foolishly sold his copyrights out of desperation back in the '80s.
he's entitled to 50% royalties, John & Paul received 25% each, maybe old Sly isn't as bad off as its being made out to be.
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Macsback:
he's entitled to 50% royalties, John & Paul received 25% each, maybe old Sly isn't as bad off as its being made out to be.
Who gets the other 50%?
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JordanOnTheRun:
Macsback:
he's entitled to 50% royalties, John & Paul received 25% each, maybe old Sly isn't as bad off as its being made out to be.
Who gets the other 50%?
Jacksons estate i would imagine.
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Macsback:
Jacksons estate i would imagine.
What about before Jackson purchased the catalogue? Sorry I'm curious.
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JordanOnTheRun:
Macsback:
Jacksons estate i would imagine.
What about before Jackson purchased the catalogue? Sorry I'm curious.
John & Paul would still be entitled to 50% no matter who owned the songs.. I was looking for a better link to explain it but this one will do.. Jackson only owned the publishing rights, he sold half to sony if i'm correct.. http://classicrock.about.com/od/artistprofilesko/a/jacko_macca.htm
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Maybe this will explain it better.. It?s sometimes not generally realized by people outside the music business, but for each record that is sold a portion of the sale price (called a ?royalty?) is set aside for the performer, and another portion for the songwriter. This is true even when the performer and the songwriter are the same person. So if Madonna, for example, has a big hit with a song written by a professional songwriter named Joe Blow, then both she and Joe get a percentage of each CD sold. On the other hand, if Madonna wrote the song herself, then she gets paid both royalties. Songwriting royalties can represent a lot of money, and need to be taken seriously. There are people in the world today who are living in comfortable retirement on the royalties from a single song they wrote, many years ago. http://www.ptrob.com/Music/Beatles/Song_Rights/song_rights.html
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I'm sure we ran a topic on this before, can't find it tho. http://www.snopes.com/music/artists/jackson.asp
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Has Little Richard ever gotten back the rights to his songs?
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Thanks Macs. This royalty stuff is confusing business, John and Paul should have gotten the biggest cut really. At least they didn't end up like a lot of these 50s/60s performers who haven't been paid royalties for YEARS. Take a peek at this - http://www.dailymail.co.uk/tvshowbiz/article-1213013/The-Rolling-Stone-whos-stony-broke-Why-Mick-Taylor-lives-rundown-Suffolk-semi-shabby-car.html