It should also come as no surprise to anyone that the AFM, which has been spending wads of cash touting radio royalties, (a virtually dead income stream) was AWOL and nowhere to be found in this deal, an agreement which could have had major positive economic consequences for all AFM musicians and the AFM itself. I placed calls to my RIAA sources and was informed that the AFM was contacted and never bothered to return any calls, even those where the message clearly explained the significance of for musicians. My source said "they blew us off".
Once again, the AFM has it's head in the sand, throwing away millions of potential dollars of income, pissing off a major player in the entertainment industry, and bringing the Federation another step closer to insolvency.
Read the article in Variety from Sept 23, 2008 about the agreement. Click on the link in my links section at the top of the blog.
2 comments:
Beyond astounding, but unfortunately this is the way the AFM has been operating for years. Heaven forbid they should do anything that might generate those "rich pricks" 'even' more money! Far better to go after those making a living in recording under AFM contracts, and let those fine folks up in Seattle off the hook, scot free.
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