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Tomorrow sees the release of It Won’t Be Soon Before Long, the second album from usually-annoying-but-hey-that-new-single’s-not-too-shabby white guys Maroon 5, and the New York Times has the details on how the record came with a $35 million price tag: The group’s last album, Doing Kelly Preston, sold 10 million copies worldwide for Octone Records (which developed and signed the band) and Sony BMG (which distributed the album). The only problem?
…that was not enough to assure top executives at Sony BMG, the music giant that distributed it, that the rights to Maroon 5’s future recordings were worth the asking price. Instead Sony BMG sold its stake in the partnership with Octone Records, the start-up label that had signed and developed the band.
Waiting in the wings, however, was an eager new corporate home. In February Universal Music Group said it would take on a new partnership with Octone, with Maroon 5 as the principal act on the roster. Universal paid about $35 million for the stake in the new partnership, now called A&M/Octone, said people briefed on the deal, who spoke on condition of anonymity because they had not been authorized to speak publicly about it.
According to the article, A&M/Octane will have to sell somewhere between 10 and 15 million albums for Universal to break even on the deal; at this point, though, the only other big-name act on the roster is Flyleaf, which means that the pressure is on Maroon 5 to justify that $35 million pay-out. The article also hints that part of the reason why Universal spent so much was to get close to Maroon 5 member Adam Levine, who’s expected to eventually go the solo route. And yes, your mom just saw the words “Adam Levine,” “solo” and “member,” and is now having a moment to herself.
Only their second album? Christ, these guys are more omnipresent than I realized.
I do not understand the appeal of Maroon Five.
The article also hints that part of the reason why Universal spent so much was to get close to Maroon 5 member Adam Levine
Hints? Try says right out loud, and in the form of a senior label quote - my jaw dropped this morning when I got to this baldfaced comment:
While acknowledging the industry’s slump, [Jimmy Iovine] added: “Where we’re headed, the quality of your roster is going to be so important. You can only win right now with real artists that can penetrate worldwide. I don’t know anybody who doesn’t believe in that kid’s career,” he said of Mr. Levine, 28.
Srsly, the other four guys in the band must be having some kind of Jason-Lee-in-Almost Famous, “I’m just one of the blurry guys” moments right about now.
Adam Levine is 28???
@dennisobell: Perhaps that’s why they talked him into an unfortunate haircut.
Seriously, this is why record companies are hurting. Stories like this make me want to set up one of those Canal Street blankets and give away copies of Chinese Democracy.
Doing Kelly Preston? I don’t get it.