Macca switches record labels to ensure Heather has no claim.

Paul McCartneyWe already have the what in this news story.  Now it seems that we have the why.  Earlier this week we had reported that Paul was switching to the new Starbucks-fueled record label.  It seemed like an odd choice to many.  In the back of my mind, I kept thinking that he had to have a reason.  It just seems totally unlike him to jump ship after such a long partnership with Capitol/EMI.  It seemed unlike Paul.  We now, it seems, we have one of the reasons for the move.  I can’t blame him for the move which will allow him to protect his assets, finances, and future earnings.  Financially it seems like a shrewd business move.

The bigger issue is that this move marks the beginning of the end of the traditional record shop.  If an artist like PaulMcCartney, an iconic legend, rock’s royalty, decides to release his music through what some would think is a non-traditional venue, then how will other non-established artists be releasing their future albums?  I know that he is hesitant to release digitally, and all of that is still in the works, but what is to come in the aftermath of Paul McCartney releasing his tunes on such an independent, startup if you will, label.

Here’s what we’ve read.

Sir Paul McCartney is dumping the record label he has used for 43 years in a move which will prevent Heather Mills from earning millions from his future recordings.

The former Beatle is turning his back on Capital/EMI – who he has been with since the Beatles’s first album in 1964 – and is penning a deal with a new label run by coffee makers Starbucks.

In recent months, Sir Paul has been offered a £25 million advance for his next four albums from Capital/EMI.

Being an advance which is payable immediately, Heather would have been able to stake a claim to half of it as part of their ongoing divorce.

Industry sources claim that point was pivotal in Sir Paul’s decision to let the deal lapse and refuse to renegotiate with the label so that Heather would not have access to the earnings.

The pair are battling it out for McCartney’s £825 million fortune after splitting last May.

The new record deal emerged as Heather spoke publicly to rubbish reports at the weekend that they were close to coming to a divorce settlement.

Miss Mills gave a statement to US show Entertainment Tonight, saying stories about a settlement had been “made-up”.

Reports at the weekend claimed Mills would drop her demand for sole custody of their daughter Beatrice in exchange for the staggering payout, which reportedly also included McCartney’s mansion in London.

In fact, a settlement is many months off, although Miss Mills has in recent days won a number of keys victories in court.

Sir Paul was previously rumoured to have shelved plans to tour while still married to Heather, so that she would not take any of the proceeds from playing live.

Signing the new deal with Starbucks will also save him some £12.5 million – a half share – of the advance Capital/EMI would have paid out for a four-album deal.

Sir Paul is now set to release his new album this autumn with Starbucks. He will be the first artist to sign with US-based coffee chain’s new Hear Music record label.

A source claimed record executives at Capitol were devastated by the news.

“They knew it was coming,” the source said. “They did nothing for the Chaos album, and they were reminded that McCartney’s entire contract was ending.”

Sir Paul’s departure is especially fascinating because ever since the Beatles joined Capitol, all their albums and all their solo albums have come from the label.

Capitol’s association with the group since they broke up in 1970 has always been key to the organisation.

Sir Paul’s Wings albums were with the label, as was John Lennon’s Imagine, George Harrison’s All Things Must Pass and Ringo Starr’s Ringo! Even Sean Lennon has released a Capitol album.

But all that may change now that McCartney has flown the coop, according to record industry experts.

“Starbucks has proven to be a much more effective seller of CDs and DVDs than record stores, thanks to their amazing retailing and branding,” an industry source said.

“Starbucks customers have come to regard non-coffee product merchandise as hip and attractive, while record companies have been unable to reach customers at all in recent years.”

Source: ThisisLondon

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4 Responses

  1. “The bigger issue is that this move marks the beginning of the end of the traditional record shop.” The traditional record shop has been dead for over 10 years. The last of the good record shops were wiped out by Best Buy’s, Circuit City in the mid ’90’s and those have pretty much been wiped out by the internet (Amazon & iTunes). The whole concept of leaving your own house to purchase music is all but over. Some places will carry the latest stuff, like Target or Wal-Mart, but you won’t be able to get something old or rare.

  2. Sad but true, Repairman. The days of spending an afternoon browsing through a record, er, CD shop are all but over.

    The big book stores like Borders are the last bastion of browzing, and I notice that their CD space has started to dwindle.

    Add to that the deterioration of today’s “music” and you have a very sad situation for future music lovers.

    sigh…

  3. I actually think it’s a refreshing move. The music industry hasn’t been the same since the Itunes קera begun and perhaps we will see his music available in more ways.

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