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Points: 13408 		Direct Link To This Post Posted: August 22 2012 at 14:59
Originally posted by Manuel Manuel wrote:

Originally posted by Hercules Hercules wrote:

Ian Anderson slightly bucks the trend, I think. I saw a recent estimate of his worth at over £30m with around £500k annually in royalties.
 
But good luck to him; he's earned it for the pleasure his music has given me and many others.

It is important to note that Ian made a lot of his money not just with music, but rather investing wisely in other industries, like his salmof farm and other finacial venues he invested in.

I know it,s hard to believe, but many of the old timers, and not only in prog, but also in other genres and branches of entertainment, like actors and atheltes, have done fearly poor, due to poor lack of common sense. I know for a fact that Jose Airas, who played congas for Carlos Santana, died of alcoholism and was living on the streets of San Francisco. Unfortunately, he is not the only one that has ended up in a very sad situation.
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Points: 69 		Direct Link To This Post Posted: August 22 2012 at 16:23
The music business in the late '60s, early '70s was a wild and crazy place. These kids were in their late teens, early twenties, had no business acumen whatsoever for the most part, and were easily fleeced by predatory managers and record execs. I'm sure they still made pretty good money playing to sold out arenas, but easy come, easy go. 

I wonder how many of the acts still touring today are doing it because they have to. 
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Points: 6767 		Direct Link To This Post Posted: August 22 2012 at 23:51
Originally posted by Meta Meta wrote:

The music business in the late '60s, early '70s was a wild and crazy place. These kids were in their late teens, early twenties, had no business acumen whatsoever for the most part, and were easily fleeced by predatory managers and record execs. I'm sure they still made pretty good money playing to sold out arenas, but easy come, easy go. 

I wonder how many of the acts still touring today are doing it because they have to. 

Great post!  I'd say most of them are playing for the cash. 

Let's face it, you think you are immortal when you are young, single and a well-heeled rocker.  However, there is no retirement plan, no health insurance, and you are lucky to get any money at all.  

Lousy food, run like hell, all your gear gets stolen, get threatened by the boyfriend of the girl you just banged, bad drugs, the clap.....

....and to think I turned all that down, not once, but several times!!  *sob!  moan!!*  

oh well, you never heard of "The Marquis" now, didja?  Nope.  One EP and that's all she wrote. 
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Points: 8577 		Direct Link To This Post Posted: August 23 2012 at 00:13
This is why I would suggest Derek Schulman may be the smartest member of prog royalty. If you can't beat 'em, join 'em. Although I highly doubt that he carried on as dubiously as executives of the '70s.

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Points: 69 		Direct Link To This Post Posted: August 23 2012 at 04:21
Originally posted by cstack3 cstack3 wrote:


Great post!  I'd say most of them are playing for the cash. 

Let's face it, you think you are immortal when you are young, single and a well-heeled rocker.  However, there is no retirement plan, no health insurance, and you are lucky to get any money at all.  

Lousy food, run like hell, all your gear gets stolen, get threatened by the boyfriend of the girl you just banged, bad drugs, the clap.....

....and to think I turned all that down, not once, but several times!!  *sob!  moan!!*  

oh well, you never heard of "The Marquis" now, didja?  Nope.  One EP and that's all she wrote. 
 
We'll be matching the output of The Marquis in a few months, but hopefully we'll be sticking around for a little longer!
 
The cool this about the business today is that with a little money and the patience to learn about recording, any newbie can record quality material in the livings rooms, and promote and publish it all online. The internet has been a huge boon for independent and up and coming artists. The days of prog acts reaching the top ten and selling out stadiums is probably gone for good (with the exception of some crossover acts like Muse and Tool) but for those who really want to make music there are not a whole lot of barriers these days to reaching a wide audience!
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Points: 69 		Direct Link To This Post Posted: August 23 2012 at 04:23
Originally posted by Tapfret Tapfret wrote:

This is why I would suggest Derek Schulman may be the smartest member of prog royalty. If you can't beat 'em, join 'em. Although I highly doubt that he carried on as dubiously as executives of the '70s.
 
I'd give the "Savviest Investor" award to Ian Anderson, but Derek Shulman is a smart cat for sure. I think I read somewhere that he was involved in the discovery and promotion of AC/DC, any truth to that?
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Points: 8577 		Direct Link To This Post Posted: August 23 2012 at 10:55
^He didn't discover them, he did promote their revival though. His most notable signings/discoveries were Bon Jovi, Dream Theater, Nickelback and Pantera.

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Points: 1226 		Direct Link To This Post Posted: August 24 2012 at 09:32
Originally posted by cstack3 cstack3 wrote:

Originally posted by Neu!mann Neu!mann wrote:

...to quote Mr. Fripp:

"The business of a musician is music. The business of a professional musician is business."
 
He then adds (and here I'm paraphrasing): "Be a professional musician only if you have no other choice"

Thank you for this!  Bob's been railing about these matters (royalties, intellectual property infringement/theft etc.) for decades!!  

I believe this was a major impetus for his formation of DGM.  

For those who missed it, Bob's recent interview with the Financial Times is a fascinating insight into the man's mind and a window into the music business: 

 
Great interview!Big smile  Sad to see Fripp becoming a "professional musician"... Seems that he really don't have choice to earn a living.
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Points: 40 		Direct Link To This Post Posted: August 27 2012 at 06:46
Originally posted by Meta Meta wrote:

I'd give the "Savviest Investor" award to Ian Anderson,


I'd go with Banks, Collins & Rutherford for investing in VeriLite technology.
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Points: 444 		Direct Link To This Post Posted: August 27 2012 at 13:00
I talked to one of the members of Kansas who told me that when they went on tour in the late 70s and early 80s they were bringing in about $1 Million U.S. A WEEK.  That was a lot of money in those days.
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Points: 6898 		Direct Link To This Post Posted: August 27 2012 at 14:18
A million a week is a lot of money these days.

Peter Gabriel was another can't beat , em join 'em guys with his Realworld studio but then again a lot of bands have their own studios
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Points: 13279 		Direct Link To This Post Posted: August 27 2012 at 14:35
Originally posted by Lofcaudio Lofcaudio wrote:

I talked to one of the members of Kansas who told me that when they went on tour in the late 70s and early 80s they were bringing in about $1 Million U.S. A WEEK.  That was a lot of money in those days.

It's hardly poverty wages now!
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Points: 8577 		Direct Link To This Post Posted: August 27 2012 at 17:50
^Yeah, it would be a real bummer to be down to your last million, eh?LOL

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Points: 6767 		Direct Link To This Post Posted: August 27 2012 at 21:22
Originally posted by Lofcaudio Lofcaudio wrote:

I talked to one of the members of Kansas who told me that when they went on tour in the late 70s and early 80s they were bringing in about $1 Million U.S. A WEEK.  That was a lot of money in those days.

I bet it had nothing to do with their music!  "Bring it on back from Mexico!"  Clap

Yeah, that is some serious dough!  I saw 'em back up Wishbone Ash after their first LP just came out, and sometime later....I guess they did become an AOR tour de force.  "Dust in the Wind" set them up nicely!  
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Points: 2447 		Direct Link To This Post Posted: August 28 2012 at 09:13
Originally posted by cstack3 cstack3 wrote:

Originally posted by Lofcaudio Lofcaudio wrote:

I talked to one of the members of Kansas who told me that when they went on tour in the late 70s and early 80s they were bringing in about $1 Million U.S. A WEEK.  That was a lot of money in those days.

I bet it had nothing to do with their music!  "Bring it on back from Mexico!"  Clap

Yeah, that is some serious dough!  I saw 'em back up Wishbone Ash after their first LP just came out, and sometime later....I guess they did become an AOR tour de force.  "Dust in the Wind" set them up nicely!  





Odd that they say Williams is the only remaining original member of the band, especially since the drummer, Phil Ehart, was in Kansas before he was!  Walsh is still in the band as well, so I'm not sure what that is all about.
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Points: 15077 		Direct Link To This Post Posted: August 29 2012 at 02:46
Originally posted by Manuel Manuel wrote:

I know for a fact that Jose Airas, who played congas for Carlos Santana, died of alcoholism and was living on the streets of San Francisco.
I didn't know that. Very sad, indeed.
 
 
Originally posted by richardh richardh wrote:

I remember Rick Wakeman saying he was completely broke about 1980 despite seliing millions of solo albums and being in one of the biggest prog bands on the planet.
 
I also recall he spent a few nights on park benches!!
Didn'y Keith Emerson crash on (his keyboard tech) Will Alexander's couch after being cleaned out in his divorce in the 90s?
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Points: 14693 		Direct Link To This Post Posted: August 29 2012 at 02:54
I think the moral of the story (and I'm sure Rick Wakeman would agree) is be a professional musician, but don't get married!

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Points: 10616 		Direct Link To This Post Posted: August 29 2012 at 02:58
Originally posted by Sean Trane Sean Trane wrote:

Originally posted by Hercules Hercules wrote:

Ian Anderson slightly bucks the trend, I think. I saw a recent estimate of his worth at over £30m with around £500k annually in royalties.
 
But good luck to him; he's earned it for the pleasure his music has given me and many others.
Yeah, but Anderson diversified too... He invested in a salmon fartm, and around 40% of the smoked salmon available in Belgium (through Delhaize and another  two supermarket chain) comes from his estate...
 
 

Really! Shocked Which are the other supermarket chains? 
I'm in for some progressive salmon LOL
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Points: 7697 		Direct Link To This Post Posted: August 29 2012 at 06:46
Originally posted by Jim Garten Jim Garten wrote:

I think the moral of the story (and I'm sure Rick Wakeman would agree) is be a professional musician, but don't get married!
And don't tour with an orchestra. Ask ELP, they know. LOL
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Points: 320 		Direct Link To This Post Posted: August 29 2012 at 16:58
Fascinating subject, I'd like to hear of this, and more documented tales of "where are their bank balances now?"
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