Did you know The Beatles don't own the publishing rights to their own songs?
Northern Songs Ltd. was founded in 1963 by music publisher Dick James, Brian Epstein, and The Beatles to publish songs written by John Lennon and Paul McCartney.
After Brian Epstein died, Lennon and McCartney sought to renegotiate their publishing deal with Dick James. In 1968 they invited James for a meeting at Apple Records. They tried to film the meeting with James, and were rather brusque with him. Already-cool relations between James and the Beatles became even cooler. Early in 1969, James and Silver abruptly sold their shares in Northern Songs to Britain's Associated TeleVision (ATV), giving the Beatles no notice, or the chance to buy them out. ATV was also able to buy enough public shares to threaten a majority holding in Northern Songs.
ATV held its controlling interest in Northern Songs until 1985, when ATV Music went up for sale. Outbidding McCartney (who'd tried unsuccessfully to persuade Yoko Ono to join him) was singer Michael Jackson, who won the bidding for a reported $47 million. When asked how he felt about having Jackson as his "boss", as controller of the song catalogue, McCartney replied, "I think he needs to give me a raise."
In 1995, Jackson merged his catalogue with Sony Music's publishing, for a reported $95 million, establishing Sony/ATV Music Publishing, retained half-ownership.
3 comments:
James G
said...
14 August 2008 at 15:16
Financially, I agree, though I'm sure emotionally, Paul McCartney would've wanted to regain total control over how his songs were published.
James E
said...
17 August 2008 at 22:48
For sure - think he was pretty pissed off with the kiddie fiddler.
James G
said...
18 August 2008 at 10:29
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It was McCartney who originally suggest to Jackson that buying the rights to songs is a good way to make a bit of money on the side, ironically. Little did he know, Jackson would then screw McCartney over.
Of course, the real money comes in from the royalties as the writer of the song - something both McCartney and Lennon (and later Ono) have done very well out of indeed - putting the publishing rights issue in to virtual insignificance in terms of financial value. The rights are not forever either, and are due to expire at some point in the not too distant future... though I am sure someone with more knowledge can tell us...