Korn Pockets $15 Million

Monday, September 12, 2005

EMI Hungry for Korn

Korn has signed a deal with EMI that pays them $15 million in upfront money in exchange for 25% of their publishing, merchandising and touring money.

After all the recent talk about Paul McCartney "selling out," I can only wonder if the same people are going to be levelling those accusations at what is obviously a purely corporate deal. The breakeven for each side of this deal is at about $60 million: if Korn makes more, they wind up making less than they would have without the deal; but if they make less, then EMI overpaid for what they're getting.

The end result is that you can be sure that EMI will be pushing Korn front and center in order to recoup their investment. It's a great way to make sure your band is getting top-notch promotion, but Korn has always been kind of an anti-establishment band, so it'll be interesting to see how their fan base responds to this deal.

Their new album is due to hit stores on November 22nd, so we won't have to wait too long to find out...