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From the Detroit News online today.
http://www.detroitnews.com/story/new...ill/108383710/
Let's hope this gets resolved soon in his favor.
If readers go into Exhibit C in the story, pages 7 through 12 show an alphabetical listing of songs that he wrote that he sold his royalties to a private equity fund. This is interesting.
No doubt people will blame Berry Gordy Jr at some point.[[ they usually do).
Berry Gordy's neighborhood is on fire right now.Quote:
Originally Posted by snakepit
A lot of songwriters / entertainers were doing that back then. Almost every week in Billboard, there would be a banner on the cover announcing the latest deal. The first I remember doing so was David Bowie. After that, everyone from HDH to James Brown to Ashford and Simpson did the same.Quote:
Originally Posted by woodward
Yes I saw the fires on the west coast...hopefully the residents are safe.
HDH made a series of bad deals to sell off their royalties for a one time cash settlement. This is not uncommon in recent years in the recording industry. Lamont Dozier reportedly was dealing with the same type of issues as Mr Holland. I was having a lunch with a very prominent recording artist who was telling me about a proposal during a lunch he and Lionel Richie were offered similar to the HDH situation and they walked out on it...Wise move...Not all of these deals work well...I do know of a few cases however, where it's worked out for some others...
Very sad that Holland sold off his legacy of songs. As others have pointed out, many have done that, usually to their regret later. The Beach Boys [[I think their father got it from them!), even the Beatles. Some have realized the value of their portfolio. I believe Bacharach and David never let their songs go. I never knew that James Brown sold off his catalog, as someone mentioned above. The weird thing about the JB catalog is it probably wasn't worth as much until sampling came about. I mean how many covers have you heard of "I Can't Stand Myself [[When You Touch Me)" or "Say it Loud [[I'm Black and I'm Proud)?" I mean, who could cover a James Brown song...except James brown when he decided to record it again...?
A sad legacy of many of the quickly rising Black performers from the 60s and even 70s, song writers and others is that they seem to have notoriously had bad advice from their attorneys. Think Florence Ballard for example. Does anyone else see this pattern? I'm not trying to be provocative; it seems to be an emerging pattern that this group of young people who probably never realized what success was and how to deal with it often hired the wrong people to advise them.
Thoughts?
Unless I understand the process wrong, when it came to these bonds, the company would give an artist a certain amount of money against future royalties. The company would collect the royalties until the amount of money they paid was collected and then the rights would revert back. Again, I'm not sure this is correct.Quote:
Originally Posted by kenneth
Re James, whoever bought his rights, even if there were few remakes of his material, they could still count on royalties from cd sales and radio play.
At the time, I thought it was a good idea. Say Ashford and Simpson receive $25 million against future royalties. They could take that $25 million, invest it, set themselves up financially, provide for their heirs, etc. I gather if one isn't versed well in business, it could be a disappointment as well.
I found this article on the Bowie Bonds:
http://money.cnn.com/2016/01/11/medi...ies/index.html
I think Dusty Springfield did it too.
@reese,
Thanks for the information. Very interesting article. I'd never heard of Bowie's use of his catalog in this way.
@xtown,
I wonder about Dusty Springfield. She wasn't a songwriter. What songs would she have had the rights to? Perhaps she helped write some of her early songs with The Springfields but I'm not aware she ever wrote any of her own songs, did she?
Well she did write a couple of more but you are right - she wasn't exactly prolific writing songs. I never quite understood what the deal was and it certainly wasn't obvious but it was about the same time as those other acts and they all seemed to keep details quiet.
I assumed that Dusty had certain rights over the release of her recordings which she was able to sell. Maybe it was the right to receive income from future royalties. But I do not know for sure. I do remember reading it and stuff about Dusty used to stick in my brain.
Thanks @xtown...K
Its always time for a Dusty track.......and one of the few that she wrote
https://www.youtube.com/watch?v=-ekFm7aUozw
You got me on a roll Kenneth! lol
https://www.youtube.com/watch?v=nNF-pqR27aE
Ironically, while listening to the TV this week, there was an ad that featured How Sweet It Is To Be Loved By You. I remember saying to my wife, that it boggles my mind that a song recorded over 50 years ago, is being used to sell a product today and that to HDH, this was probably just another day at the office. Talk about songs that stood the test of time!
I am a huge fan of Mr Holland, his singing, writing and producing.
However, I have a hard time feeling sorry for him here.
We know that when we get a sum of money, no matter how big or how small, THERE ARE TAXES AT THE END OF THE YEAR.
If I have to pay, he has to pay.
Wow, good for her. I had no idea and I've loved Dusty forever. Thanks! If these were on Phillips, that dates to pretty early in her solo career. That was her first American label, I believe.Quote:
Originally Posted by theboyfromxtown
We’ll I feel bad for Eddie Holland. He’s given us all so much joy over the years with his music. I hope this works out so that he can live in dignity.
This sounds like a horrible mess and I doubt at his age he can get out of it unless there is enough money set aside to pay everything - and there pretty clearly isn't
Sounds like this and been going on 20 years or more and some of this has to be self inflicted
Oh dear, I'm sad to hear this. I had no idea. It seems very complicated too...Quote:
Originally Posted by woodward
Wasn’t it suggested that selling these royalties worked well for some of these writers because around this time royalties started to collapse because of downloading?
I don’t think the royalties many artists and singers are receiving after being split 15 ways amount to very much anymore nor have they for years.
But it sounds like any tax advice he received was either not followed or maybe he got none
These are lawyer drawn documents
https://www.youtube.com/watch?v=fKkGKLQoKrY
Eddie explains what happened, in his own words.
Russia does not take 35% of my income, so why am I supposed to hate Russia?
IMHO, taxation is theft.
In Canada, taxes pay for Medicare for allQuote:
Originally Posted by Circa 1824
Massively, we would never let that go