|
Class Action Lawsuit.
You can't just buy a company but not buy their debt obligations. They are counting on the fact that musicians will never pull it together....scumbags.
A lot of the startup companies that promise to deliver for musicians are just big money making scheme for their owners. They draw in investors who pour in millions of dollars. They make up some unsustainable business plan where they will pay royalties from advertising or subscriptions. Then the owners try to bail out before the investors realize it'll never fly.
In the meantime, the content creators get screwed.
Everywhere you look, you see products being sold with free downloads. I saw one today that came with 65 free downloads. I don't think the product even cost but $50. How the hell are those royalties getting paid.
Cynical...just a bit.
I'm just calling it as I see it. IMO Wall Street and music don't mix well.
|