Last week, The Monkees’ frontman Davy Jones passed away at the age of 66 from a heart attack.While younger generations may have had to google the legendary singer’s name, what most don’t realise is that Jones—who some call the original Justin Bieber—paved the way for “360-degree” music deals now implemented by the likes of Jay-Z, Madonna, Robbie Williams and U2.
By using a 360 deal, “an artist gives up partial rights to multiple revenue streams in exchange for a hefty advance,” reports Forbes. “It came on the heels of British pop star Robbie Williams’ 80 million pounds-sterling pact with EMI in 2002; Madonna followed by signing a $120 million agreement with Live Nation in 2007.”
But Jones and The Monkees were among the first to be a part of such a deal with a record company. They were formed in 1966 as performers in a TV show with a contract that controlled their music, identities and their pay packets.
Below, Statista.com charts the evolution of 360 music deals throughout the years.
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