As more and more details of the Michael Jackson world crop up, it’s interesting to hear about the state of his finances. It seems that Michael was spending a lot more then he was making and yet even with his mounting debt he didn’t sell out some of his most valuable possessions. Mainly the rights to The Beatles catalog. There was some refinancing, and his grip over The Beatles music was loosened, but he never sold it.
Michael knew that having the rights to ones own music, and music like The Beatles, would be where the real money would be made. Even in today’s world of rapidly declining copyright it’s still important to have that final say of where your music can be used. Radio spins may not pay the bills anymore but movies, TV, commercials, and video games are still looking for great music. I don’t need to tell you all of the bands who’ve parlayed a successful commercial spot to bigger and better opportunities.
Since many musicians own their own publishing and copyrights they therefore find excuses to remain uninformed about the topics. But it’s always good to know about what the music copyright and publishing world entails (Check out the New Rockstar Philosophy book for a quick look). So when the day comes where you are looking at a publishing deal you can make the right move and maybe buy your own crazy ranch in California.
Check the vid at 5:00… wow.[youtube=http://www.youtube.com/watch?v=pZdBNtC5iUA]