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Music legend David Bowie has died
- Thread starter zeroo
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David Bowie was innovative and way ahead of time.
Many singers spanning different genres and eras attribute their style to his influence.
His contribution to music is immense.
Many singers spanning different genres and eras attribute their style to his influence.
His contribution to music is immense.
Financial Engineering
Bowie, who died Jan. 10 at age 69, was the rarest of artists. Not only did he boast 61 U.K. Top-40 singles and repeatedly reinvent himself, he was among a select group of musicians to own the master recordings for his songs. That made him a perfect candidate for Pullman’s 1997 experiment in financial engineering.
Pullman packaged the future royalties of Bowie’s catalog and sold them in a private offering to Prudential Insurance Co. of America for $55 million. Bowie retained the rights to his music, received a lump of cash and investors got a 10-year cash cow.
“David Bowie was so innovative that his catalog had diversity in it, which is different from even large catalogs that have a sound and represent just one period of time,” said Pullman, who said he was grateful to the star for the opportunity.
Pullman found inspiration for his next deal in the records decorating the walls and ceiling of New York’s Motown Cafe. He packaged royalties from songs written by Edward Holland, Lamont Dozier and Brian Holland, including “Stop! In the Name of Love,” recorded by The Supremes. Similar transactions followed for James Brown, the Isley Brothers and Ashford & Simpson, who wrote many hits, including Marvin Gaye and Tammi Terrell’s “Ain’t No Mountain High Enough.”
“Others no longer thought David and I were crazy,” Pullman said.
http://www.bloomberg.com/news/artic...ffers-marketplace-oddity-one-hit-wonder-bonds
[video=youtube;9TiLJYH1qFQ]https://www.youtube.com/watch?v=9TiLJYH1qFQ[/video]
[video=youtube;-crsuEOlUO0]https://www.youtube.com/watch?v=-crsuEOlUO0[/video]
Bowie, who died Jan. 10 at age 69, was the rarest of artists. Not only did he boast 61 U.K. Top-40 singles and repeatedly reinvent himself, he was among a select group of musicians to own the master recordings for his songs. That made him a perfect candidate for Pullman’s 1997 experiment in financial engineering.
Pullman packaged the future royalties of Bowie’s catalog and sold them in a private offering to Prudential Insurance Co. of America for $55 million. Bowie retained the rights to his music, received a lump of cash and investors got a 10-year cash cow.
“David Bowie was so innovative that his catalog had diversity in it, which is different from even large catalogs that have a sound and represent just one period of time,” said Pullman, who said he was grateful to the star for the opportunity.
Pullman found inspiration for his next deal in the records decorating the walls and ceiling of New York’s Motown Cafe. He packaged royalties from songs written by Edward Holland, Lamont Dozier and Brian Holland, including “Stop! In the Name of Love,” recorded by The Supremes. Similar transactions followed for James Brown, the Isley Brothers and Ashford & Simpson, who wrote many hits, including Marvin Gaye and Tammi Terrell’s “Ain’t No Mountain High Enough.”
“Others no longer thought David and I were crazy,” Pullman said.
http://www.bloomberg.com/news/artic...ffers-marketplace-oddity-one-hit-wonder-bonds
[video=youtube;9TiLJYH1qFQ]https://www.youtube.com/watch?v=9TiLJYH1qFQ[/video]
[video=youtube;-crsuEOlUO0]https://www.youtube.com/watch?v=-crsuEOlUO0[/video]
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