The Cadence: Canceled, Dead and Worth $45M
by Joshua Glazer & Chris Monaco
We believe that the great reset to the music industry caused by COVID will usher in a new era where creativity sits at the head of the table and IP at the center of the conversation.
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Phil Spector - Canceled, Dead and Worth $45M
The death of record producer and second-degree murderer Phil Spector last week set off the expected debate over how to view an artist whose beloved work conflicts with their personal horribleness.
His most famous charge (and ex-wife) Ronnie Spector took the diplomatic route in tweeting “He was a brilliant producer, but a lousy husband.” Much of Twitter was less generous, not only skewering Spector, but also the media who tended struggled to balance the legacy with the infamy. The BBC even apologized for its initial headline describing Spector as “talented but flawed.”
Semantics aside, some outlets used Spector’s passing to celebrate others who contributed to his music, including a lovely NPR article on the lesser known black women whose voices were essential to his sound.
Billboard, meanwhile, did a deep dive into the worth of Spector’s catalog at a time when such valuations are driving much of the music industry news cycle. This did not include image and likeness valuation, which was deemed “unlikely.”
The most salient statements from recent industry articles.
More reason why publishing has risen to the top of the industry concerns. Judd Apatow’s fondly-remembered first series Freaks and Geeks is finally streaming after a notable absence that was caused by issues in licensing music featured in the show. You’d think they would have learned when broadcast became cable. Or cable became VHS. Or VHS became DVD…
Takeaway: The music needs to be cleared for Freaks and Geeks and Undeclared. If it isn’t, your DVD will be all there is.
The star-studded inauguration of Joe Biden has given industry execs more cause to be optimistic about the new administrations attitude towards music. A November article in MusicWeek focused on Biden’s bullish attitude towards intellectual property. A new interview this week with Glassnote founder Phil Glass went even further, suggesting that music and culture could have an even bigger voice.
Takeaway: “Our country dearly needs a Minister of Culture who would oversee music, theatre, film and television.”
Even the introduction of the COVID vaccine was not enough to save Glastonbury 2021, which was scheduled for June. The pause until 2022 might be slightly more palatable given the fact that Glastonbury uses a deposit system for all of its tickets, collecting £50 in October, with the rest of the payment not due until April.
This compared to Governor’s Ball, which has has set a deadline of January 27, 2021 to request a refund on its $315 tickets, despite the fact that it has yet to announce the new lineup for the festival that is currently scheduled to take place in September.
Takeaway: A rush to return right away in fall 2021 could lead to a saturated festival schedule, both in specific cities and the country as a whole.