Monday, June 12, 2006

Money Talking

I haven't verified these figures quoted from the Guardian for a £7.99 album on iTunes:
"The government (of course) took its 17.5% in VAT off the top, leaving £6.59 net. Under a standard record contract, the split, according to Bacs, would go something like this: performer 48p, songwriter 53p, credit card company 59p and Apple 99p - while the record company trousers the remaining four quid. Even at the megastar rates enjoyed by Macca, Jagger and Jacko (22% of retail, no deductions), the performer gets maybe £1 more and the record company a quid less. Hey, do the maths."

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