Next question (the first was more rhetorical) but is that Bob Dylan or Vincent Price ??
Heh, in that particular YT screen grab, the resemblance is striking!
“Why do they do that”
and lots of it
Stitch its most certainly all about the wonga ! Kerrchinggggggg !
I read that basically retirement planning and estate planning has something to do with it. I can actually see the argument for estate planning, but still how far away is that mindset from when they started 50 and 60 years ago??
Rick Beato’s video is an interesting take on this. I watched it a while ago, so I might be repeating some of his points but I also think it makes complete sense to cash in on their catalogues.
They have had their lives sorted out for a few decades now and probably for a few generations of their descendants. But if I understand the law correctly, copyrighted material becomes “open source” 70 years after artist’s death or 70 years after first publishing (I did not read any further on the topic). And this is where I think it makes complete sense to do it. If they don’t sell it, their estate will have to take care of it for the next ____ years and then it’ll go open source. But if they sell it, the finance people (I assume it’s some hedge funds behind these purchases) diversify their portfolio and the artists get some “spare cash” now to pursue something else (either charitable or just for fun, not my business).
I probably lost a thread of thought already, so I will stop here and see if the conversation continues and chip in later on.
I quickly watched Rick’s video now. I especially agree with him on the “let the artist develop” part and that record companies don’t give a chance to young artists.
But luckily, the financial barrier is way lower than it used to be (regarding recording costs, promotion, etc.) so with good work ethic and some luck, you can get far. The first that comes to my mind is Close2u’s nephew that is in the King No-One band. It is a grind though. But that’s a discussion for another day.