What IS the disconnect between black folks and money?


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luvdaboom said:
i was just finna say u betta add LA Reid to that list. He was ripping off folks left and right. But again these folks are strait out the hood talent. They have no idea what the business side of the music game is. Same with these athletes. They can barely add and subtract
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Add Kirk Franklin to that list. I know PLENTY of guys he screwed over. I went to school with most of God's Property-the original version-they sued him after they learned they were going to see any money. After they did all the signing and work-all they got was to be on tv and free clothes. A lot of those kids left COLLEGE to be in that group. I can say all of them came out doing pretty well-many are still doing performing and working. One does stuff for Snoop Dogg sometimes.

Add Chris Stokes too. He had tons of artist and only a few put out cds? B2K, Marques Houston/IMX, Rome, Monteco, Quindon and Oryan?

Add Diddy-something isn't right if you have artist jumping ship left and right-including some no one has ever heard of.

Can you imagine how Mario Chlalmers feels when he plays with 14 million dollar players and he makes 387k...He can't even hang with his teamates...
But I bet he trys too and spends all his money...
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I doubt it. Because he sees all that money they have and the weight of it. Iverson, Artest and others are supporting 30-70 people with thier pay checks. Folks that aren't trying to take your money to get a better education, but folks just living off you.

EDUCATION!
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i heard master P says on a talk show that if you give a broke person a million dollars, this time next year they will be broke again. folks just live outside of their means. just bc u got money now dont mean u gonna have it in the future. trying to buy big cars, big mansions and dont realize the up keep to those things is more expensive than actually buying it. folks just dont understand finance like they should. i aint for telling grown folks how to spend their money but damn they look pitiful when they go broke
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Sometimes you have to tell grown folks on what to do with thier money. We got tot get to the point to where we educate our people BEFORE the money shows up and make sure the right folks are around them to make wise choices.

Lebron can brag about his money all he wants but it take 15 pounds of pressure to break a body part and your career is over. What skills does he have to keep making money?

Same with Soulja Boy-he is flopping left and right and can't pay his bills. Shoes and clothing line flopped.

We have to start talking about those who are making smart money choices to our kids and be like our white counterparts. There is more than one way to make money and keep it.

We can talk about broke white folks but many of them have backup plans. They may have lost that money but they are working somewhere plotting to get it back. See they don't mind going back to the bottom and starting all over again.

Look at television for a minute.

Look at all these reality shows popping up featuring white folks. A tv show for repo men? coal miners?

We even have 2 new shows premiering this Friday on IFC featuring white boys making local commercials for folks and one taking a group of broke white boys all over the country showing you how to be cheap.

How many broke white folks are popping up on these shows? They have no trouble telling you that they are broke. They have no trouble playing bit roles in movies or shows.

Look at Seth Mcfarlane-Family Guy FAILED and got bought back. Jeb Apatow failed with 3 shows before winning with The 40 Year Old Virgin. Josh Weldon hasn't had a hit since Buffy left yet still keeps getting hired. Entrorage creator failed with his first film-PHAT BEACH and now look at him.

Us? We will commit a crime before admitting that we are broke. Soul 4 Real in jail for identity theft, Antwon Tanner same thing, Sam Jones III-drugs and so on.
 



jag4life said:
Believe that if you want. Most artists are still getting a small piece of the pie. The record company isn't the only hand in the pot.
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Yep. That's why you see them killing themselves touring and trying to sell cologne, perfume, clothing, and other stuff. They're not making it from selling music. The record companies ain't making money either that's why you see them buying up each other and trying to get a hand in the artists touring and other stuff.
 
jag4life said:
Believe that if you want. Most artists are still getting a small piece of the pie. The record company isn't the only hand in the pot.
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Never said there was not any dumb ones left that can be had for a hand full of $100's. :lol: Just saying the ones that do sign contracts like that are stupid as hell. :tup:
 
jag4life said:
Believe that if you want. Most artists are still getting a small piece of the pie. The record company isn't the only hand in the pot.
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I have a chart that shows how much everypone gets. The artists gets SCREWED worst than a porn star.

Take Soulja Boy he made $12 million after everyone gets thier cut he is looking at LESS than $3 million-not counting taxes.

If I can load the chart on to photobucket-I'll post it on here.

But the overall was-

63% Label
24% Distributor (Mind you there are only 4 of them-EMI, BNG, Sony and 1 more)
13% Artist
Now from the band's cut-
18% Band
15% Lawyer
5% Business Manager
3% Producer
54% the band-guitar, drumer & bassit



$1000 sold in musc equals $24 for the artist

An Indy artist make 70% if he puts his music out via I-tunes or Amazon.com
 
PsychoJag said:
Yep. That's why you see them killing themselves touring and trying to sell cologne, perfume, clothing, and other stuff. They're not making it from selling music. The record companies ain't making money either that's why you see them buying up each other and trying to get a hand in the artists touring and other stuff.
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The companies are making money just not as much as they want.
They are getting burned by companies that are owned by bigger dogs.
How much money is Disney making off of High School Musical, Hannah Montana and others?
How much money is being made off of video games soundtrack? NBA 2K11 had foilks I NEVER heard of and now I want those cds.
How much money are they losing because the WWE has thier own music department outisde of SIlkk The Shocker, Lil Kim, Saliva, Killswitch Engage and Watershed Blonde-those themes are inhouse.

And how much more could they make if they were being azzholes over music rights on television shows? Malcolm in the Middle (2-7), Bernie Mac (seaon 2-5) and Muppet Babies?
 
skyvolt2000 said:
I have a chart that shows how much everypone gets. The artists gets SCREWED worst than a porn star.

Take Soulja Boy he made $12 million after everyone gets thier cut he is looking at LESS than $3 million-not counting taxes.

If I can load the chart on to photobucket-I'll post it on here.

But the overall was-

63% Label
24% Distributor (Mind you there are only 4 of them-EMI, BNG, Sony and 1 more)
13% Artist
Now from the band's cut-
18% Band
15% Lawyer
5% Business Manager
3% Producer
54% the band-guitar, drumer & bassit



$1000 sold in musc equals $24 for the artist

An Indy artist make 70% if he puts his music out via I-tunes or Amazon.com
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Not many, if any, labels are getting nearly 63%.

And your math is off.
 
jag4life said:
Not many, if any, labels are getting nearly 63%.

And your math is off.
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Well that came from a different source. All of that was in a story I found while working on something else. Normally I keep track of the links but I didn't for this one.

Edit-I found the link-

http://www.theroot.com/views/how-much-do-you-musicians-really-make

SLRP: The suggested list retail price of a CD is currently $16.98, while the standard wholesale price -- what retail stores pay the label per CD -- is about $10. Once the retailer gets the CD, they can sell it for however much they'd like -- hence "suggested." Artist's royalties are a percentage of the retail price. Superstars can get 20 percent of the SLRP, but most get 12 percent to 14 percent.

Packaging charge: 25 percent of the SLRP goes back to the record company immediately for what's called a "packaging charge" -- that's the label literally charging the artist for the plastic case in which his or her CD is sold.

Free goods: In essence, "free goods" are a roundabout way for labels to discount records so stores will be more inclined to buy them. So rather than sell Best Buy 100,000 records at the regular wholesale price, the label will sell them 100,000 records for the price of 85,000. The artist is then paid for the 85,000 CDs, not the actual 100,000 sold to the retailer.

Reserves: Records, especially records by newer artists, are generally sold with the caveat that retailers can return to the label whatever copies they don't sell for a full refund. Thus to ensure they don't lose too much money on artists, record labels will sometimes pay artists for only 65,000 copies out of 100,000 copies, just in case 35,000 (25,000 if you consider the free ones) are returned. If the retailer ends up selling all their copies, the label will then pay the artist the balance owed, which can sometimes take years.
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http://entertainment.howstuffworks.com/music-royalties1.htm

The first thing we need to do is distinguish between recording-artist royalties and songwriter/publisher royalties.

In The Internet Debacle - An Alternative View, Janis Ian, a singer/songwriter, states:

If we're not songwriters, and not hugely successful commercially (as in platinum-plus), we [recording artists] don't make a dime off our recordings.

She's referring to the fact that recording artists and songwriters do not earn royalties in the same way. Recording artists don't earn royalties on public performances (when their music is played on the radio, on TV, or in bars and restaurants). This is a long-standing practice that's based on copyright law and the fact that when radio stations play the songs, more CDs and tapes are sold.

The only current instance in which artists earn royalties for "public performances" is when the song is played in a digital arena (like in a Webcast or on satellite radio), is non-interactive (meaning the listener doesn't pick and choose songs to hear), and the listener is a subscriber to the service. This came about with the Digital Performance Rights in Sound Recordings Act of 1995. This act gave performers of music their first performance royalties.
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skyvolt2000 said:
The companies are making money just not as much as they want.
They are getting burned by companies that are owned by bigger dogs.
How much money is Disney making off of High School Musical, Hannah Montana and others?
How much money is being made off of video games soundtrack? NBA 2K11 had foilks I NEVER heard of and now I want those cds.
How much money are they losing because the WWE has thier own music department outisde of SIlkk The Shocker, Lil Kim, Saliva, Killswitch Engage and Watershed Blonde-those themes are inhouse.

And how much more could they make if they were being azzholes over music rights on television shows? Malcolm in the Middle (2-7), Bernie Mac (seaon 2-5) and Muppet Babies?
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There are 4 Big record companies that basically control the record industry now. Look for that number to drop to 2 in the next 5-10 years. The Recording companies ain't making the money because they are basically having to sell off assets, make cuts, no videos, ect.

The folks making the money are the PUBLISHING companies. That's where the money is in the Music industry. If you own the rights to songs then you have guaranteed income FOREVER.

Disney is their own entity. They have their own recording company, publishing company, ect....
 
A fool and his money always part.

People are generally ignorant of how much work it takes to keep that money going.

If somebody didn't work hard to get the million dollar jackpot, it won't take much for them to lose that money.
 
Olde Hornet said:
EDUCATION!
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It takes more than education. I know broke finance professors. They have the technical knowledge, but many of my professors seemed to be satisfied with the little 80K or whatever professors made. And lived through one of the biggest economic boom periods in US history relatively making peanuts while others with their same knowledge were making millions on Wall Street. It takes more than knowledge.

Building and keeping wealth is more behavior than knowledge. I'd say it's about 20% knowledge and 80% behavior. Wealth builders consistently do certain things over and over. Just like body builders do certain things consistently.

Broke folks do broke people stuff. Like get into debt that they can't pay back. Like trying to rely on uncertain income. Like not paying their taxes. Like thinking high income means they are wealthy. Like "investing" in silly stuff. And on and on ....

I once broke up with a girl because she had "fat girl habits". She wasn't fat then, but she consistently did the things fat girls do. I just saw her on Facebook last week after not seeing her for five years. Guess what? Swole. Predictable, huh?

The problem with our people is we don't know what to do, but even if we did we have a hard time doing the right things consistently for the long term. Make the wrong choices and money won't stay with you. Like someone said earlier ... "a fool and his money ...."
 
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SUJagFan said:
It takes more than education. I know broke finance professors. They have the technical knowledge, but many of my professors seemed to be satisfied with the little 80K or whatever professors made. And lived through one of the biggest economic boom periods in US history relatively making peanuts while others with their same knowledge were making millions on Wall Street. It takes more than knowledge.

Building and keeping wealth is more behavior than knowledge. I'd say it's about 20% knowledge and 80% behavior. Wealth builders consistently do certain things over and over. Just like body builders do certain things consistently.

Broke folks do broke people stuff. Like get into debt that they can't pay back. Like trying to rely on uncertain income. Like not paying their taxes. Like thinking high income means they are wealthy. Like "investing" in silly stuff. And on and on ....

I once broke up with a girl because she had "fat girl habits". She wasn't fat then, but she consistently did the things fat girls do. I just saw her on Facebook last week after not seeing her for five years. Guess what? Swole. Predictable, huh?

The problem with our people is we don't know what to do, but even if we did we have a hard time doing the right things consistently for the long term. Make the wrong choices and money won't stay with you. Like someone said earlier ... "a fool and his money ...."
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By education it doesn't necessarily mean formal education. It could also mean Parents teaching their children the value of money and how to live frugally so that it becomes their way of living.
 
PsychoJag said:
By education it doesn't necessarily mean formal education. It could also mean Parents teaching their children the value of money and how to live frugally so that it becomes their way of living.
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So that it becomes their way of living. A habit. You are so right.

A couple of interesting quotes:

"Habit is thus the enormous flywheel of society, its most precious conservative agent. It alone is what keeps us all within the bounds of ordinance, and saves the children of fortune from the envious uprisings of the poor." - William James, The Principles of Psychology

"Men's natures are alike; it is their habits that separate them." - Confucius, Analects

Habits.

Poor people have habits that make them poor.

Middle class people have habits that make them middle class.

Wealthy people have habits that make them wealthy.

If a wealthy person does poor people stuff, he's going to end up poor. And vice versa. The reason people who suddenly get a lot of money (lottery winners, professional athletes and entertainers) tend to lose it is that they still have poor people habits or middle class habits. And the money naturally goes away.
 
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SUJagFan said:
The reason people who suddenly get a lot of money (lottery winners, professional athletes and entertainers) tend to lose it is that they still have poor people habits or middle class habits. And the money naturally goes away.
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I agree.
 
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