That was MY IDEA!

Read this article from today's New York Times: Korn Sells a Stake in Itself, as Its Partners Try to Find a New Way to make Pop Music Pay.



















Ok, so maybe it wasnt MY idea per se, but its definately an idea that I have been advocating for the past two years, and about which I even wrote an article in 2004.

(I'll upload MYarticle shortly, for your reading enlightenment). I highly suggest you read it, and not just to show you how smart I am! :)

The idea Im speaking of is that of the recording artist joint venture agreement, whereby the publishers and/or the promoters, the record label, etc, become partners with the recording artists, and share ALL profits and revenues evenly, instead of the traditional recording agreement where the major label makes all the money and the artist, with a platinum album, sees NADA and still eats ramen noodles!

It doesn't take a genius to realize that all the revenue is generated in merchandise and promotion deals, so it makes sense to get everyone on board in a more equal business model to counter act the inherent inequities.

I must credit Donald Passman and his almighty bible entitled All You Need to Know About the Music Business. I must also credit EMI Music Publishing, where I worked in the royalties and label support department and found out first hand how little funds went to the hard working artists, and how much goes right back to the all powerful and ever so greedy record labels!

















This is a big idea, and as an entertainment lawyer, a huge opportunity to step in and advocate for our clients, whomever they may be!