IPB
2 Pages V  < 1 2  
Reply to this topicStart new topic
Streetlight Post Emancipation Update #2
ohnoes
post May 19 2017, 02:56 AM
Post #21


Failure, Complete and Utter.


Group: Members
Posts: 3,058
Joined: 2-September 07
From: Toronto, Canada
Member No.: 711



And we will bite the hand that thieves
We will not turn the other cheek
This is no threat
It is a promise we will keep
So what's the point pretending
When we've seen behind the curtain
And there's nothing much to see

Promise kept.


--------------------
Go to the top of the page
 
+Quote Post
?Rorshach?
post May 19 2017, 10:47 AM
Post #22





Group: Administrators
Posts: 10,390
Joined: 9-August 07
From: Milwaukee, WI
Member No.: 693



QUOTE (Voox @ May 19 2017, 12:25 AM) *
Ok, maybe someone can explain this to me, because I don't really get it...

Why does Streetlight need to go into so much debt to own this music? Like... what was so horrible about the contract that he couldn't just shit out a few albums, fulfill his obligations to Victory, and be done with them?

I guess I just don't get that. Why put your yourself, your friends, and your family in an apparently massive amount of debt. That seems sort of silly, petty, and selfish. I'm totally open to the idea that I'm missing something and not getting the full picture, but like I said-- hoping someone can explain it to me.


I'm not going to pretend to know for sure, but I think it's worth noting the value of their back catalog.

Smaller, but still relatively successful punk bands see a few grand a year from record sales, without contracts that are heavy in royalties. That's bands with like, 10,000 Facebook fans. Streetlight on the other hand, has 130,000+ fans. I'm sure that doesn't add up to 13x the sales, but I think it's still a pretty fair amount of money.

If Victory really was shafting them on royalties, and they had the opportunity to take it all back and start seeing 100% of their profits, I'm not completely shocked that they decided it was worth it.


--------------------
Go to the top of the page
 
+Quote Post
SkankinLibrarian
post May 19 2017, 11:24 AM
Post #23


Terrible. Just terrible.


Group: Members
Posts: 10,954
Joined: 6-March 09
From: Chicago, the only city in the world
Member No.: 9,850



Thomas didnt release "pip farting on a snare drum" album because he didnt want to lose his artistic integrity. Plus now he owns his back catalog. Its selfish on the whole, but in the end they can make money if they actually start putting out albums more frequently and start touring more than once a year.


--------------------
SHUT UP AND SKANK

Go to the top of the page
 
+Quote Post
ohnoes
post May 19 2017, 04:17 PM
Post #24


Failure, Complete and Utter.


Group: Members
Posts: 3,058
Joined: 2-September 07
From: Toronto, Canada
Member No.: 711



It definitely seems selfish now, but if they manage to make good with everyone they'll look like geniuses.


--------------------
Go to the top of the page
 
+Quote Post
Dondles
post May 19 2017, 04:52 PM
Post #25





Group: Administrators
Posts: 3,296
Joined: 5-April 06
From: Somewhere, England, UK, Ewerope
Member No.: 3



There's another point to consider. This is the outcome of a legal case where Victory was demanding $1 million. It could be that Streetlight's legal representation gave them not great odds of winning the case, and owing Victory even more money, and suggested going this route to limit the amount. Owing tens of thousands, or whatever, isn't as bad as owing hundreds of thousands. Maybe, I wouldn't know.


--------------------
QUOTE (Jabberjaw @ Nov 11 2006, 12:24 AM) *
Fuck off, Fondles.

Radio Image Screen Copy
Go to the top of the page
 
+Quote Post
RH
post May 19 2017, 07:27 PM
Post #26





Group: Members
Posts: 1,838
Joined: 9-April 06
Member No.: 18



sounds to me like it's at least hundreds of thousands if family members were mortgaging or refinancing their houses.
Go to the top of the page
 
+Quote Post
yepyep
post Today, 10:39 AM
Post #27





Group: Members
Posts: 3,055
Joined: 27-November 07
From: Houston
Member No.: 910



QUOTE (Voox @ May 19 2017, 12:25 AM) *
Ok, maybe someone can explain this to me, because I don't really get it...

Why does Streetlight need to go into so much debt to own this music? Like... what was so horrible about the contract that he couldn't just shit out a few albums, fulfill his obligations to Victory, and be done with them?

I guess I just don't get that. Why put your yourself, your friends, and your family in an apparently massive amount of debt. That seems sort of silly, petty, and selfish. I'm totally open to the idea that I'm missing something and not getting the full picture, but like I said-- hoping someone can explain it to me.


It sounds to me like he was trying to shit out a few albums and fulfill his obligations, but Victory kept trapping him in a pinch for money and using that to extend their contract. He actually did deliver all of the albums to them. They just came back later and said, "if you need more money now, we can give it to you, but those cover albums no longer count to your contract," thus putting them in the hole again.

Also, bands aren't completely innocent in this because they do sign the contracts, but signing these long contracts with bands that require 4, 5, + albums from them is a very concerted effort for record labels to trap bands and their future profits. They know the huge majority of bands aren't ever going to be able to produce that number of albums, so they essentially own them for life. I'd imagine as an artist that feels pretty suffocating.


--------------------
Tokenly gay
Go to the top of the page
 
+Quote Post
dumbducky
post Today, 04:59 PM
Post #28





Group: Members
Posts: 1,006
Joined: 9-February 10
Member No.: 11,112



The evidence both parties filed during discovery included emails between goiter thompson and Victory. When they were going back and forth about KNAPBSM goiter thompson explicitly agreed that it wouldn't count towards their contract. I'm pretty sure the original contract they signed for EGN called for 5 albums of original recordings. Streetlight had an extremely flimsy case which is probably why they had to pay so much out.
Go to the top of the page
 
+Quote Post

2 Pages V  < 1 2
Reply to this topicStart new topic
2 User(s) are reading this topic (2 Guests and 0 Anonymous Users)
0 Members:

 



Lo-Fi Version Time is now: 24th May 2017 - 08:29 PM