It’ll Cost You A Lot Of Money To Get Into Bed With Maroon 5
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.
