Posted on 09/28/2023 1:39:02 PM PDT by nickcarraway
Legendary rocker Mick Jagger may be swimming in his millions thanks to the Rolling Stones, but he most likely won’t be sharing his wealth with his eight kids.
The 80-year-old musician hinted to the Wall Street Journal in a recent profile that he doesn’t want to sell the band’s post-1971 music inventory.
Jagger teased that the money should go to charity instead of his offspring.
“The children don’t need $500 million to live well. Come on,” he joked to the publication.
(Excerpt) Read more at nypost.com ...
They want it but you can’t always get what you want.
So who does if not your own?
he should give 10 million to each child and then the remaining 420 million to 420 deserving people.
I would have people write letters nominating deserving amazing people who need to be rewarded. He could change 420 GOOD peoples lives forever. But instead will probably form some crappy charity that will waste is all funding liberal causes
I think he felt they didn’t need their dad either
He could fund the Ukraine lunacy for about 30 seconds.
Why would you want to give to charity?
There is no charity worthwhile
You would be very right.
His PERSONAL fortune will go to his kids, as will Keith’s.
But rights to the song catalog, the most valuable in the world, are up for grabs. That’s all FUTURE revenue.
They’ve been on the road for 60 years, and for the last 25 they’ve been getting from $1-$3.5 million per show. These guys are filthy rich without the song catalog.
And that catalog has over 300 songs in it. Wow. It’s probably worth more than $500 mil.
Handing 500 million to someone who doesn’t know how to earn it or manage it will crush him. A lot of people like to fantasize about winning the lottery. I do too at first but then I start thinking about everything I would have to do to handle a massive windfall and even the fantasy becomes stressful.
So how does he make money off of his old songs from the 60’s and 70’s? Like maybe 20 cents each time a song is played on the radio? Just curious as to how this works.
1,000 plays = $4.00
10,000 plays = $40.00
100,000 plays = $400.00
1,000,000 plays = $4,000.00
And so on. A billion streams is worth around $4,000,000 to the artist. This might seem impossible to attain but actually most big name artists (including The Rolling Stones) have racked up billions of streams. Remember, it's not just radio play but every time somebody streams a song from an online streaming service like Spotify, Apple Music, YouTube, Google Play, etc.
Still, you can see why bands still tour and sell merchandise. That's where the real money is.
My husband worked for a short time for a company that went down a similar path. He got out before it got really bad.
Grandfather started it. Father grew it. Kids bled it dry and destroyed it.
Keith Richard is worth $500m also
Thank you Sam for explaining this to me. Wow!
I am no fans of hers, but it seems like she was treated shabbily, at best. Why a Jezebel?
I want my money back from buying the “Goat’s Head Soup” album.
The Billboard charts used to be determined by retail sales of LPs and singles as well as terrestrial radio airplay in key markets. It was a very manual process and ripe for fraud (such as the Payola scandals).
Over the decades, retail sales and radio airplay have diminishing roles ini chart position. Now it's all about the streams.
Today, almost nobody purchases music anymore. Most subscribe to some sort of music streaming service where they have access to unlimited content on demand. Typically these services charge around $20 a month, out of which they need to pay royalties to the artists.
This is why the royalty rate hovers around .004 per play. Now even if you download the songs and play them from your local hard drive, the song still belongs to the streaming service (such as Spotify) and they are responsible for paying that .004 each time you play that song offline. (Next time you connect, the play count is uploaded to the provider).
If you ever cancel your streaming subscription, the songs you downloaded from them become instantly unusable. This also occurs if you do not connect to the "mothership" within a certain number of days.
For a $20/mo subscription, you would need to play 5,000 songs in a given month for the streaming service to lose money on your account. (5,000 x .004 = $20)
As you can guess, this rarely happens. Most people will stream less than 20 songs a day - or some 600 songs a month. So the streaming services are able to pay out the artist royalties while still earning some profit for themselves.
“One of the few exceptions I made note of. Trump is another who did good by his inheritance.”
One of the many things I have noticed about the guy. inherited a few million and turned it into Billions.
A very unique individual.
Did it mostly on his own, no big old money political connections, “Truly self made” plus he actually cares about us middle class people.
I wonder if Mick has ever taken a fam photo....with all 8 of his children, together.
Songs?
Nope...will take Jerome Kern and Rodgers and Hart over the shouting.
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