Artists Will Receive Nothing from the $3 Billion Beats Acquisition, Sources Say…| DMN

The three major labels secured an equity share in Beats Music as part of their licensing agreements with the service. But according to multiple sources close to those negotiations and Beats’ subsequent sale, artists on those labels will receiving nothing at all from the roughly $3 billion acquisition by Apple.

The reason is that acquisition earnings aren’t tied to actual sales or streams, and therefore are not accounted at all to label artists. “They will get nothing,” one industry attorney flatly told Digital Music News, while insisting on anonymity.

READ THE FULL POST AT DIGITAL MUSIC NEWS:
http://www.digitalmusicnews.com/permalink/2014/06/09/artists-will-receive-nothing-3-billion-beats-acquisition-sources-say

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