Hey Shaun, what does this mean?

NFT a fraction of the catalog

Ros, NFTs are non-fungible tokens, a variation on crytocurrency. They are essentially worthless objects that are converted into valuable digital assets that are traded on the blockchain.

You would be SHOCKED at how much they can go for.

Tulip mania in my eyes.

October 25, 1976 Bruce played the Spectrum in Philadelphia. The bootleg recording of that show has been passed around among fans for decades. I'm sure I could probably find a Maxell XL90 of it in my garage somewhere.

But some billionaire will pay real money for the NFT live recording of that show, even though everyone who cares already has a copy.

This is what I don't get. Bruce isn't making new fans every day. His diehards already have everything he's put out. He's never going to put out another Born in the USA. Where is the revenue stream for the catalogue buyer here?

The buyer is counting that the revenue from licensing the songs in commercials and TV and media and Tik Tok and Instagram and (whatever platform doesn't exist yet)

plus the revenue from streaming services
will make it worth the $$ over time.
It will be worth it but will definitely take a while.

Bruce is happy because he is getting old and doesn't need to hire the mountain of attorneys and people to administrate and track down all the money for perpetuity, and neither will his heirs.

There's a place outside the edge of town, sir....

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He is. Just not at nearly the rate he used to.

Jimi's been dead for 50 years. There are fans of his music that never walked the earth at the same time as he.

It's art. There is always a market for the good stuff. There are plenty of college girl dorm rooms with a print Seurat's Sunday Afternoon on the wall. That doesn't make the original any less valuable. And Seurat's been dead for over 100 years - yet still making fans.

I'm a huge Hendrix fan, but I also play guitar. I can't imagine any current artist, even the biggest ones, making anything close to nine figures on downloads and album sales. I know they can make huge money with concert tix and merch sales these days, which wasn't as possible when tix were $12.

Fun fact - Bruce's keyboard player, Dan Federici's son rode my bus to middle school. This was when Born in the USA was all over the charts. He had all the best swag you ever saw. But I was never a fan. At that time Van Halen's 1984 was out and I had just started playing guitar. So that's where my money and attention went.

Let me google that for you:

https://entertainment.howstuffworks.com/music-licensing4.htm

In 1973, Scorsese used half of the budget ($500,000) of his movie "Mean Streets" to pay for music rights. Most of that went to the Rolling Stones for Jumpin' Jack Flash.

1973.

Just because an artist is filthy rich already....doesn't mean they quit watching the pennies. :)

https://news.yahoo.com/eric-clapton-successfully-sues-woman-184041322.html

Nike will pay a fortune for Born To Run, etc.

One of my Bruce arena shows was at the Spectrum and all his early albums are on Maxell cassettes somewhere .... I have nothing by him on CD btw (amongst thousands)..... but he could rock back then :)

I do have the bootleg ALBUM of Winterland '78 .... not sure how I wound up with it either .... college daze :D

Actually.... I do know ;)

I wander what one's fair share of taxes is on 500 mil.

$100M.
Musical compositions are intangible personal property and subject to the (in this case) the long term capital gains rate.

Could you compile any form of cost basis into the musical composition?

Chances are you would have already deducted those costs when they occurred against your income in that time period.

Best thing he ever did was write the ghost of Tom Joad so Rage Against the Machine could cover it.

he should use that $ on singing lessons

I knew that heads would explode .... and Bruce doesn't GAF ... he's The Bo$$ :D

Thank you.

NFT .... Newage Freakin' Tulips...

I'm bettin' Bruce won't be accepting Bitcoins as payment either :D