by Mike Masnick
Wed, Jun 3rd 2009 9:04am
It's certainly nothing new to find out that record labels rarely have the best interests of the musicians at heart (despite their proclivity to claim so -- especially to Congress and the press). However, a new lawsuit (sent in by a bunch of you) that pits Cher and the heirs of Sonny Bono, highlights some of the many ways that labels screw over musicians. In this case, Cher is alleging that Universal Music funneled revenue through international subsidiaries in order to completely hide how much revenue was made on Sonny & Cher music, in order to avoid paying the contractually agreed upon royalties. Again, such charges of creative accounting are legion in the industry, but it's nice to see a lawsuit detail exactly how some of the funny accounting is done. Whenever major record label folks insist that the labels have the artists' best interests in mind, it seems worthwhile to point out these sorts of stories.
If you liked this post, you may also be interested in...
- China's Public Prosecutors Complain About Leak Of Anti-Corruption TV Series They Bankrolled To Raise Awareness
- New Survey: Most Millennials Both Pay For Streaming Services And Use Pirate Streams When Content Isn't Legally Available
- Singapore Court Tosses Copyright Troll Cases Because IP Addresses Aren't Good Enough Evidence
- Supreme Court Asks White House To Weigh In On Dancing Baby Fair Use Case
- New Decision In Dancing Baby DMCA Takedown Case -- And Everything Is Still A Mess