[Fmpro] ALL residuals ???

[Kirbyko3@aol.com]

In a message dated 5/15/07 7:43:39 PM, mnortham at gmdgroup.com writes:


> Wait for it.....
> 
> The PUBLISHER.
> 
> ... Who may or may not distribute the writers' share of the mechanicals to
> the writers, assuming the writers even know about the moneys being received
> by the publisher in the first place.
> 

Mark, you just flashed me back to my days in the mid-90s, doing sync 
licensing at a music publisher. I won't say which one, but let's just say it's in the 
top 3 biggest in the world.   And my friends who worked in royalty accounting 
were always on red-alert because writers were constantly auditing the 
publisher, and it was their job to try to find ways to hide the money, alter the 
books, and keep as much of that income as possible. Still, it was routine for an 
audit to turn up a couple million "lost" dollars for many writers.    This was 
'93-'95 -- I don't know to what extent that still happens today, given all the 
corporate ethics stuff of recent years and Sarbonne-Oxley etc etc -- but I'm 
sure it still exists to some extent. 

Lesson learned? Never trust publishers.   

Kerry


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