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David Crosby forced to sell his song catalog: ‘It’s my only option… streaming stole my record money.’
Music Business Worldwide ^ | Dec 07 2020 | Tim Ingham

Posted on 02/02/2022 7:03:52 PM PST by texas booster

There are a lot of good reasons for US songwriters to sell their publishing catalogs right now.

There’s the fact that Joe Biden’s tax plans will – if they get through the US legislature – significantly raise capital gains tax for composers whose songs attract a sale price-tag over $1m.

There’s also the fact that streaming continues to grow the record industry, leading to rosy projections from the likes of Goldman Sachs… and, in turn, fuelling a frenetic M&A music rights marketplace.

And, of course, there’s the fact that acquisition multiples have never been higher, as well-funded players like Hipgnosis Songs Fund, Concord and Primary Wave do battle with the major incumbents, Universal Music Group, Sony Music Group and Warner Music Group.

We don’t know how many of these factors influenced Bob Dylan’s decision to sell his songwriting catalog (including both publisher and writer’s share) to UMG, for a price-tag that MBW’s sources suggest lay somewhere between $300m and $400m.

But it’s a fair bet they were all given due consideration by the former-Mr.-Zimmerman’s representatives.

Now, one of Dylan’s ’60s contemporaries – David Crosby of Crosby, Stills & Nash – has revealed he’s also in the process of selling his song catalog to the highest bidder.

However, Crosby’s motivation for doing so is rather more deflating, and a stark reminder that 2020’s music business doesn’t spell fantasy-level enrichment for every established artist out there.

Referencing Dylan’s nine-figure catalog sale, singer/songwriter Crosby tweeted today (December 7): “I am selling mine also… I can’t work …and streaming stole my record money.”

He added: “I have a family and a mortgage and I have to take care of them so it’s my only option… I’m sure the others feel the same.”


TOPICS:
KEYWORDS: crosby; davidcrosby; joerogan; parasite
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To: E. Pluribus Unum
Speaking of prison, does anyone remember what happened to folks who carried handguns into NYC in the '00s?

Just proving that there are (at least) two sets of rules:

In March 2004, Crosby left a suitcase behind at a hotel in New York City, and when an employee looked for an identification tag, he stumbled upon a small amount of marijuana and a loaded handgun, according to The New York Times. When Crosby came back to the hotel to get the bag, he was arrested, spent 12 hours in jail, posted bail, pleaded guilty to criminal weapon possession, and paid a fine.

21 posted on 02/02/2022 7:24:44 PM PST by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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To: texas booster
Wife and I went to see CS&N in Seattle around '87-'88ish, they started out with their old favorites, such great harmonies but after a break they went into new songs that no one wanted to hear.

After about the 3rd new song, people started to boo loudly and they got it and went back to their good stuff.

Great group despite their left-leaning politics.

22 posted on 02/02/2022 7:30:07 PM PST by PROCON (Sic Semper Tyrannis)
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Crosby comes from an old money family. He’s been grifting as a “common man” musician for 50 years.


23 posted on 02/02/2022 7:30:41 PM PST by proust (All posts made under this handle are, for the intents and purposes of the author, considered satire.)
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To: texas booster

Now you understand the real reason they’re pissed at Spotify, and it has nothing to do with Joe Rogan.


24 posted on 02/02/2022 7:31:45 PM PST by dfwgator (Endut! Hoch Hech!)
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To: texas booster

An old singer, from an old band, whose fans aren’t into Spotify and aren’t filling venues to see him anymore.

One has to think why he would have a mortgage.


25 posted on 02/02/2022 7:32:50 PM PST by qaz123
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To: Glad2bnuts

Many of them actually did - they took some of the money and invested it. If put a couple of million into something reasonable in the 70s, today you should be sitting on at least $100 million.


26 posted on 02/02/2022 7:35:52 PM PST by proxy_user
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To: texas booster

Jokingly but jealously a few years ago Keith Richards said of Bob Dylan: “Bob always finds ways to keep those revenue streams flowing his way. He is the Prophet of Profits.”

That actually happened after Albert Grossman cheated him out of millions by shady contracts from 1962-1970 that gave him 25% but actually a de facto 50% or more of his earnings. The hidden and visible sources of money went to Grossman unnoticed until a secretary offhandedly told Dylan and proved it with some file folders.

Grossman’s famous line to Dylan and others (Gordon Lightfoot, the Band, Todd Rundgren, Janis Joplin) was after he cheated the client they became 10% smarter than working for the other “dummy” managers by the learning experience.

Dylan spent over a decade in court obsessed with getting revenge against Grossman.


27 posted on 02/02/2022 7:36:20 PM PST by frank ballenger (You have summoned up a thundercloud. You're gonna hear from me. Anthem by Leonard Cohen)
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To: EEGator

😂😂😂. Haven’t heard that dyke’s name in a looong time.


28 posted on 02/02/2022 7:37:10 PM PST by Levy78
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To: texas booster

He’s getting more than he’s worth. Just shut up, Dave, and go die somewhere.


29 posted on 02/02/2022 7:38:24 PM PST by HIDEK6 (God bless Donald Trump. )
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To: Levy78

I can’t name a song by either, I just remember the news of her getting “turkey bastered” by Crosby...


30 posted on 02/02/2022 7:38:46 PM PST by EEGator
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To: texas booster

“We Are The Old”

https://www.youtube.com/watch?v=SfJFoyl-G5g


31 posted on 02/02/2022 7:40:13 PM PST by dfwgator (Endut! Hoch Hech!)
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To: Levy78
😂😂😂. Haven’t heard that dyke’s name in a looong time.

I enjoyed the silence, as in not hearing her voice, too.

Notice she and Cher spend almost all of their singing time on recordings belting it out and practically yelling the lyrics. Not singing with nuances (I know not everyone is Adele but at least some variations are good.)

32 posted on 02/02/2022 7:40:48 PM PST by frank ballenger (You have summoned up a thundercloud. You're gonna hear from me. Anthem by Leonard Cohen)
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To: texas booster

Not hearing a lot of love from the old hippies.


33 posted on 02/02/2022 7:41:43 PM PST by Huskrrrr (Alinsky, you magnificent Bastard, I read your book!)
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To: Glad2bnuts
He should've taken the same advice Burton Cummings (The Guess Who) gave Justin Beiber, PUT THE MONEY AWAY?
34 posted on 02/02/2022 7:43:51 PM PST by Impala64ssa (If a liar's pants really did catch on fire ABC, CNN and MSNBC would be more fun to watch)
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To: EEGator

“turkey bastered”????


35 posted on 02/02/2022 7:44:56 PM PST by Osage Orange (1961 VW Two Door Truck)
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To: texas booster

“There’s the fact that Joe Biden’s tax plans will – if they get through the US legislature – significantly raise capital gains tax for composers whose songs attract a sale price-tag over $1m.”

Who did you vote for David?


36 posted on 02/02/2022 7:44:58 PM PST by WeaslesRippedMyFlesh
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To: HIDEK6

You know I might feel sorrier for these guys if they hadn’t spent 30 years screwing us on the price of CDs. $20 a pop for a disk that cost them a few cents to make.

I’ve literally spent thousands of $ in my life on music. I don’t necessarily regret it, but they’ve got all the money they’re going to get from me.


37 posted on 02/02/2022 7:46:07 PM PST by DarrellZero
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To: GnuThere

A guy with his lifetime earnings, who is 10-15 years older than me, somehow manages to need a mortgage. Meanwhile, I do not. No debt.

Not feeling sorry for his bad decision making, drug addictions, etc.


38 posted on 02/02/2022 7:46:41 PM PST by FreedomPoster (Islam delenda est)
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To: Osage Orange

Artificial insemination.


39 posted on 02/02/2022 7:49:34 PM PST by EEGator
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To: texas booster

Another CSNY member in the news?


40 posted on 02/02/2022 7:51:20 PM PST by the OlLine Rebel (Common sense is an uncommon virtue./Federal-run medical care is as good as state-run DMV)
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