After uber-manager and music industry deal maker Irving Azoff exited as Chairman of Live Nation last year, one of his many moves was to form Global Music Rights as part of his Azoff MSG Entertainment, a new joint venture with the Madison Square Garden Company. There were rumors that some major songwriters including members of Journey, Foreigner, Fleetwood Mac and Soundgarden had signed on. Now its becoming clear what Azoff has planned for his growing song catalog, and it strikes at the heart of a marketplace dominated by BMI and ASCAP for decades.
Azoff has apparently been telling potential clients that he will negotiate ropyalties from radio stations and online music broadcasters that will be up to 30% higher then they are currently getting through ASCAP or BMI. This leak comes via the New York Times, who quote 3 annonymous sources.
How Will Azoff Collect 30% More?
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