Posted on 07/01/2019 5:56:33 AM PDT by nickedknack
Taylor Swift lashed out at her Big Machine founder Scott Borchetta for selling the label, including the masters of her first six albums, to Kanye West's former manager Scooter Braun, who she accused of "manipulative bullying." Late Sunday, Borchetta fired back at the "Mean" singer's claims.
(Excerpt) Read more at foxnews.com ...
Didn't he have to fight Yoko for it?
Don’t let her fool you with this whinefest. Her net worth is more than $300 million. She’s done extraordinarily well financially.
No, because Lennon didn't own the rights to his music at the time of his death in 1980. ATV Music owned the rights from 1969 to 1981.
In 1981, McCartney had the opportunity to purchase the rights to their music for $40 million. McCartney approached Ono to see if she wanted to split the cost. She said the catalog wasn't worth more than $20 million and declined the deal. Of course this time, McCartney was worth several hundred million dollars, so he could have bought it outright. He feared looking greedy and disrespectful of Lennon's memory, so passed on the deal.
In 1982, McCartney and Jackson were collaborating on 'Say Say Say.' Jackson joined McCartney and his wife Linda for dinner. It was then that McCartney told Jackson that the only way to really make money in the music business was to own the rights to the music. He showed Jackson his portfolio and explained that he was making $40 million every year off his portfolio of their artists' songs, saying "Every time someone records one of these songs, I get paid. Every time someone plays these songs on the radio, or in live performances, I get paid."
In 1984, McCartney again had the opportunity to purchase back the rights, but declined as he thought it was too pricey.
That year, Jackson heard that ATV was up for sale and since the night of their dinner had been on a music rights buying spree. Jackson told his lawyer to spend whatever it takes to buy the Beatles catalog. In the end, Jackson spent $47 million leaving McCartney feeling betrayed by Jackson.
On the other hand, Paul deserved it for doing those wretched duets with Michael.
Like Swift, he had plenty of opportunities to buy back the rights to his music. Also like Swift, his failure to own the rights caused him no financial harm.
Really, Taylor, you need to calm down.
I am a huge Taylor fan and I’m ok that she is human and has emotions and views. I can live with it. I hope she is less political in the album though.
Swift is straight Pennsylvania gentry class. She was raised in a $750,000 home and educated at private schools. Her dad was a Merrill Lynch regional Vice President. If it wasn't for music, she'd have gone to an Ivy, rushed a top-tier sorority, and married a country-club Republican investment banker like all of her friends did.
However, she has a very large payroll to keep on top of. There's a lot of people earning their living thanks to Taylor Swift Inc. Her last world tour employed an army of nearly 400 people just on the road.
And if you did hear one, you’d change the channel.
That comes out of proceeds from the concerts, not a penny from her personal pocket. Her last tour generated more than $300 million in revenue for all the various parties involved.
This certainly helps explain the upward tilt of her nose!
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