IB on Beatles deal

I READ THE NEWS TODAY, OH BOY: More details are emerging about the BeatlesiTunes exclusive, which stands as Roger Faxon’s biggest coup since taking the reins at EMI. In what appears to be a key concession on Faxon’s part, the Beatles and EMI are said to be splitting revenue 50-50, with iTunes paying the Beatles directly, as opposed to the standard arrangement, wherein EMI would get the money and then pay a royalty to the band. No big advance reportedly was paid, but the EMI/Beatles bet was that the iTunes marketing campaign would also impact physical sales of the Beatles catalog. (12/2a)

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