I hadn’t read this yet, but it’s just more evidence that the RIAA and everything they represent is evil.
New York City’s hottest new band is Grunthead, a four-piece hard rock group from Maspeth. Because they’ve got buzz, the band gets a 15% royalty rate, a few points above the usual amount for a new artist.
The Gold Record Gross: 500,000 albums sell at $16.98 = $8,490,000 The Grunts’ royalty is 15% of retail. That’s $1,273,500.
[After the record company, lawyers, agents, etc. take their cut],
That takes the band down to $161,909.
That’s not bad money, but it’s split four ways, or $40,477.25 each, about the same as a city sanitation worker with two years’ experience, without health benefits, vacation and retirement fund. But with, of course, groupies.
That’s just digusting!!!