EMI: KoRn Represents 25 Million Dollar Investment
Band Photo: Korn (?)
The partnership between KORN and EMI Music is most accurately described as a $25 million investment by EMI in a new company that is "in the KORN business," according to one familiar with the negotiations. Thus, rather than shelling out an advance to the band, as would happen in the traditional artist-label relationship, EMI will function as a profit participant in the band's business for two LPs and their accompanying cycles. The arrangement is characterized by insiders as a series of separate deals from the various revenue streams that live within the context of the new KORN partnership.
The challenge facing the two parties, says one in the know, was to find a way to align the interests of the label with those of the artist, so that the decisions made would ultimately benefit both parties. The concept behind this arrangement, the same source clarifies, was to make the pie bigger for everyone, so that the artists and their partners both make money.
The chief negotiators of the deal were band attorney Gary Stiffelman, who is co-counsel to KORN, along with John Branca (both are with Ziffren, Brittenham, Branca & Fischer) and EMI business affairs exec Ian Hanson. Significantly, it was initiated by EMI rulers Levy and Munns after they’d listened to the completed KORN album, the quality and potential of which compelled them to enter into this intricate, mathematically complex partnership with the band.
Source: Blabbermouth
What's Next?
- Previous Article:
Mustaine Says He Cant Wait For Gigantour 2 - Next Article:
Wylde: When Ozzy Tells Me To Jump, I Ask How High?
21 Comments on "EMI: KoRn Represents 25 Million Dollar Investment"
2. writes:
Well I must agree. I'm not really in to KoRn, but what they did in the past times is just hilarious. I heard and read (I wasn't there), that when they were at Hungary (I'm from Hungary), they looked more likely as a lame duck band, trying to hit the stage for the cash only, because they just hate each other so much. Head was right (and I'm not saying it just because I'm a christian too). So new contract? LOL! LOL! They can be happy that they could survive the previous one. You may disagree, you may hate it, you may find it hilarious, but:
KoRn IS OVER!
ps: the world will not be much poorer without them
4. writes:
The whole idea about KoRn doing this just for the money might be true...........But honestly, think about this........who would want to pour their heart and soul out, spend most of their time trying to get an album together for thier true fans, and bust a$$ at preforming without getting somehting in return?........Doing all of that takes alot out of you, so why not get paid?...........Their artists and they deserve respect for even getting out in the world in the first place...................And even more for being able to stay in it & producing. So, until we get any information from Johnathan Davis, or the rest of KoRn themselves, people need to quit putting words in their mouths, quit assuming the worst, and quit f***ing bashing KoRn just because the have the f***ing balls to stand out and be different instead of conforming to the normal......!
6. writes:
But seriously, how the hell do you know for sure that their doing it for the money?........Your not in their heads and i doubt that your best friends with the band...............And when they write their songs, their heart and soul are in it...............How could you put yourself into something that much if you didnt really care about it? hmmmm?
Member
7. writes:
KoRn have always put thier hearts in thier music. It's the only way JD writes, from his soul. Thier a bigger band now, have been for a while, f*** dude, if any of you where as successful as thiem, you'd be out to make some money to. It's not like they get paid to play shows and make c-ds, promotional bullsh**, all that comes out of thier pockets.
9. writes:
can you people not read,they're making agreements to benefit both parties,sounds like big bussiness to me,...and to johnisgod,do you really think that other bands dont have to do the same thing,other bands just have to work harder at it because they dont have the $,your world really does revolve around these sellouts doesnt it
Member
Member
13. writes:
i'm a korn fan, i've noticed how korn/jonathan really devote themselves to their fans...so what a nice record deal? its what they do for their fans that matters. and they have devotion to them...let's not forget Justin...remember Justin? the kid with Leukemia who's last wish was to meet them...if korn really sucked, they wouldn't have come to that dying boy's side....the proof that they dont suck is there in the history of the "Make-A-Wish" Foundation
Member
To minimize comment spam/abuse, you cannot post comments on articles over a month old.
1. sycness14 writes:
Wow, it's crazy how low Korn has sunk these days.....I really respected them and the songs they made, but it truly seems that they are just out to make money now. I guess Head was right......