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3.05pm
28 February 2016
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What percentage of royalties were they earning on sales? I’m very interested to know the details
4.20pm
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Reviewers
20 August 2013
Offline I’ll provide a little information. I’m sure someone with more knowledge of the subject will do more follow-up.
From Joe’s biography of George Martin https://www.beatlesbible.com/p…..ge-martin/
Martin was told about Brian Epstein, who was managing a pop group that had been turned down by the majority of labels including Decca. He arranged to meet Epstein on 13 February 1962, where he heard the Decca recordings, which he thought “unpromising”. He did, however, think well of John Lennon and Paul McCartney ‘s vocals.
The pair met again on 9 May at Abbey Road , where they agreed a contract without Martin having met The Beatles or seen them perform. The contract, which he felt gave him “nothing to lose”, promised The Beatles a royalty of one penny for each record sold.
Allen Klein renegotiated the contract. https://www.beatlesbible.com/p…..len-klein/
Allen Klein swiftly renegotiated their EMI contract, obtaining them the highest royalties ever paid to an artist at the time.
I found this post by @meanmistermustard. Perhaps he can add some more to this conversation.
Then there’s the whole deal of how much Paul and John made from the songs they wrote which is mentioned in Joe’s bio of Dick James.
And for the fun of it, the first contract signed by The Beatles.
I know this is a simplistic answer, but I hope it is a start.
Welcome to the Fab Forum, Don.W.
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4.46pm
28 February 2016
Offline Ahhh Girl said
I’ll provide a little information. I’m sure someone with more knowledge of the subject will do more follow-up.
From Joe’s biography of George Martin https://www.beatlesbible.com/p…..ge-martin/
Martin was told about Brian Epstein, who was managing a pop group that had been turned down by the majority of labels including Decca. He arranged to meet Epstein on 13 February 1962, where he heard the Decca recordings, which he thought “unpromising”. He did, however, think well of John Lennon and Paul McCartney ‘s vocals.
The pair met again on 9 May at Abbey Road , where they agreed a contract without Martin having met The Beatles or seen them perform. The contract, which he felt gave him “nothing to lose”, promised The Beatles a royalty of one penny for each record sold.
Allen Klein renegotiated the contract. https://www.beatlesbible.com/p…..len-klein/
Allen Klein swiftly renegotiated their EMI contract, obtaining them the highest royalties ever paid to an artist at the time.
I found this post by @meanmistermustard. Perhaps he can add some more to this conversation.
Then there’s the whole deal of how much Paul and John made from the songs they wrote which is mentioned in Joe’s bio of Dick James.
And for the fun of it, the first contract signed by The Beatles.
I know this is a simplistic answer, but I hope it is a start.
Welcome to the Fab Forum, Don.W.
Thanks for the help. This is a great start. Hopefully more information is available or will come out about this. I’m very curious
5.20pm
Reviewers
Moderators
1 May 2011
Offline Theres extensive details in ‘Tune In’ regarding their first contracts but i dont have the book at hand and i’m tired. If no one else posts it I will do so tomorrow.
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12.02pm
3 August 2012
Offline EMI committed to recording a minimum of six ‘sides’ (pieces of music) in the first year, typically to be issued as three singles. EMI would own the recordings and have sole right of production and reproduction.
All recording costs, including studio time, would be paid by EMI.
There was no ‘advance’ on royalties. The royalty rate was one penny per ‘double-sided record’ (single) on 85 per cent of sales, paid quarterly. (The missing 15 per cent was ‘to cover records returned and/or damaged in transit and/or used for demonstration or advertising purposes’.) LPs were calculated proportionately, usually as six or seven singles.
It was a four-year contract, but EMI was bound only for the first. If the company chose to renew, the royalty would be increased by farthing increments to a ceiling of 1½d.
The contract was for the world. Half the prevailing royalty would be paid for record sales outside Britain.
So basically, they didn’t get much from it. 15% of that penny was for Brian Epstein and the rest was split evenly with the Beatles.
Times I find it hard to say / With useless words getting in my way
12.23pm
28 February 2016
Offline pepperland said
EMI committed to recording a minimum of six ‘sides’ (pieces of music) in the first year, typically to be issued as three singles. EMI would own the recordings and have sole right of production and reproduction.
All recording costs, including studio time, would be paid by EMI.
There was no ‘advance’ on royalties. The royalty rate was one penny per ‘double-sided record’ (single) on 85 per cent of sales, paid quarterly. (The missing 15 per cent was ‘to cover records returned and/or damaged in transit and/or used for demonstration or advertising purposes’.) LPs were calculated proportionately, usually as six or seven singles.
It was a four-year contract, but EMI was bound only for the first. If the company chose to renew, the royalty would be increased by farthing increments to a ceiling of 1½d.
The contract was for the world. Half the prevailing royalty would be paid for record sales outside Britain.
So basically, they didn’t get much from it. 15% of that penny was for Brian Epstein and the rest was split evenly with the Beatles.
That sounds like such a terrible deal. It’s sad to think that the greatest band of all-time, the most successful songwriters ever . . had such a terrible deal
12.31pm
Reviewers
17 December 2012
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If you look at this post, it has two links which lead to many EMI/Capitol documents.
To provide a shortcut, these are the three main documents – the 1962 contract can be found here, the 1967 contract here, and the 1969 contract here.
There is access to more documents in the post I link to above should they be of interest.
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The Beatles Bible 2020 non-Canon Poll Part One: 1958-1963 and Part Two: 1964-August 1966
4.29pm
28 February 2016
Offline Ron Nasty said
If you look at this post, it has two links which lead to many EMI/Capitol documents.To provide a shortcut, these are the three main documents – the 1962 contract can be found here, the 1967 contract here, and the 1969 contract here.
There is access to more documents in the post I link to above should they be of interest.
Perfect. Thank you. It’s a lot to read but I will scan through it for the pertinent figures and terms
4.07am
Reviewers
Moderators
1 May 2011
Offline Don.W said
pepperland said
EMI committed to recording a minimum of six ‘sides’ (pieces of music) in the first year, typically to be issued as three singles. EMI would own the recordings and have sole right of production and reproduction.
All recording costs, including studio time, would be paid by EMI.
There was no ‘advance’ on royalties. The royalty rate was one penny per ‘double-sided record’ (single) on 85 per cent of sales, paid quarterly. (The missing 15 per cent was ‘to cover records returned and/or damaged in transit and/or used for demonstration or advertising purposes’.) LPs were calculated proportionately, usually as six or seven singles.
It was a four-year contract, but EMI was bound only for the first. If the company chose to renew, the royalty would be increased by farthing increments to a ceiling of 1½d.
The contract was for the world. Half the prevailing royalty would be paid for record sales outside Britain.
So basically, they didn’t get much from it. 15% of that penny was for Brian Epstein and the rest was split evenly with the Beatles.
That sounds like such a terrible deal. It’s sad to think that the greatest band of all-time, the most successful songwriters ever . . had such a terrible deal
Whilst it was a poor deal it was the standard deal at the time and its not like Paul and Ringo are waiting for the latest newspaper holiday voucher so they can collect all 25 so to go on their once yearly holiday of a 5 day trip to Skegness staying in a caravan.
"I told you everything I could about me, Told you everything I could" ('Before Believing' - Emmylou Harris)
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