Just in case you thought that Too Much Joy's absurd royalty statement from WMG was an isolated incident, here's a sadly similar story from Christian metal band The Gaurdian as told by former band member and music industry veteran David Bach:
"Wow!...we've gone backwards!
This week (Nov.-2009) - I received another royalty statement.
In May 2007, we were unrecouped to Warner Brothers to the tune of $174,073.84
Now...our balance is up to $174,717.56!
Talk about 'pushing forward back!'.
How is this possible?
Good question!
Even as a veteran record company exec...I thought I'd seen it all!
This is a phenomenon that is both sad and laughable.
Even as a veteran record company exec...I thought I'd seen it all!
This is a phenomenon that is both sad and laughable.
Warner Bros. still makes money off our back catalog...but yet finds ways to implement 'creative accounting' to send us backwards..."
More on David's post "The Awful Truth: Royalty Shizzle".
