In May of 2007, I wrote a post about the wacky world of record company royalty recoupment.
This week (Nov.-2009) - I received another royalty statement.
Wow!...we've gone backwards!
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?
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.
...And people wonder why the record business is in the swirling vortex of despair.
The accountants are desperately trying to administer CPR to an industry that has breathed it's last...(insert Dixieland funeral dirge here)
Am I bitter?
Am I mad?
Heck, no! These are unsecured loans!
While the record company may be re-collecting their money at usurious rates...
...it's like squeezing blood from a stone!
Record companies recoup their money off album sales...not us personally.
There was lot that I didn't like about the record business of old...may she rest in peace.
But there was a lot I did...and this is one of them.
I could say that we were were overbilled and ripped off!
But I prefer another word for us...
(...to be continued)