What They Don’t Want You to Know about Publishing: “Michael Jackson a Bully?” You Decide!
If you ask anybody in the music industry about publishing, you might get 20 different explanations, and they’ll all be bull! What does a Publishing Company do, you ask? In my opinion, absolutely nothing. They give artist advances according to the money they already know is coming, in order to take 75% of your royalties! They do this in the disguise of “we’re going to give you an advance of $100, 000 on a 1. 3-million-dollar deal for your music”. That sounds great, but what they don’t tell you is that they’re just paying you what you’ve already earned; and they’re taking 75% of your future earnings as payment for loaning you $100, 000! They are modern-day loan sharks! The only difference is they don’t come and break your legs when you don’t pay them back. They make sure that you pay them back, and they break the bank with your money!
When I was coming up in the industry I had meetings in New York setup with Warner Chappell and Sony-ATV Publishing. Both were vying for my talent hard, and I was excited just to have an opportunity to sign with either. So, they flew me to New York and rolled out the red-carpet. I got picked up from the airport by a limo. They put me in one of the most expensive Hotels in Manhattan and booked studio time with one of the best producer/ songwriters in the world. I must admit I was wowed, it felt good to be wanted! I was so humbled by the whole experience. Both companies treated me like a king and it was very hard for me to choose between the two. I eventually decided to go with Sony ATV because I just loved the artist that they had on the roster, and the leadership wasn’t too shabby either. I actually got to speak to the founder of Sony ATV, Michael Jackson about signing on with him, and he told me he was a fan of my music and that he was excited about my future publishing! Needless to say, I signed the deal that day!
Later, after I had already signed the publishing deal. I started to read up on publishing, how it got started, how it worked, and how I could use it in my favor. I’ve always been a business minded person, so I wanted to know the inner workings of a Publishing Company. Through my research, I came to find that Michael Jackson himself was one of the founders of publishing in the world, and he would eventually build the biggest publishing catalog in the world. I read an article about Paul McCartney and Michael Jackson. They were sitting down and having a conversation about publishing. Paul McCartney had been buying small publishing from different songwriters and singers, that he knew. During their conversation, He had advised Michael Jackson to invest in publishing. The irony is that Michael Jackson told Paul McCartney that” one day I’m going to buy your publishing.” They both laughed and continue to have the conversation, but unbeknownst to Paul McCartney, Michael Jackson got on the phone with his lawyer immediately and started to acquire publishing from different artists, singers, and songwriters that he liked. While doing his due-diligence Michael came across a catalog of ATV publishing. and ATV publishing had over 4000 different songs in their catalog, and they also had whole Beatles catalog as well. Understanding the opportunity that he had Michael Jackson ended up buying ATV for 47 million dollars.
Eventually, Michael merged ATV with Sony Music’s catalog and created Sony ATV publishing which is now the biggest publishing company in the world. Now, business-wise that’s a great story, but this act by Michael Jackson created a rift in the relationship between him and Paul McCartney. And not just that, but also between Michael and all of the other artists who he acquired in the publishing deal. Years later in an interview, Paul McCartney praised Michael Jackson for how good of a person he was but acknowledged that it took a certain kind of person to do what he did to their friendship. He laughed when he spoke of what Michael told him when they discussed Paul getting his publishing back! Michael refused to sell back the publishing and said, “It’s just Business”. And that was the last time they spoke to each other. People in this business always want to say, it’s just business, but it’s more than that! It’s personal when you say you love me! It’s personal when you say you have my best interest at heart! It’s personal when you come to my home, and meet my family! It’s personal when I invite you to dinner! It’s personal when you play with my kids! It’s personal when I meet your kids! Those things are personal, so when you build a relationship like that to say “It’s just Business” is a slap in the face, because you know me personally!
Don’t get confused about this business! Those that know you, will tell you it’s just business, and those are the main ones that will try to destroy you, and take everything you own. Go to joinleverage.com sign up today! Let us help you prepare you for success, and armor yourself against an industry that is against you!