Some time in 1949, during the early days of Atlantic Records, the company's founder Ahmet Ertegun had a highly significant encounter with a seasoned executive from one of the major record companies. The fledgling record man was quizzing his more experienced colleague on various aspects of music-biz lore and practice, and Ertegun asked the veteran about artists’ royalties. “You mean you're giving these artists royalties?” the man from the major replied, aghast. “You're going to ruin the business for all of us.”
from “Boogie Man. The Adventures of John Lee Hooker in the American Twentieth Century”
from “Boogie Man. The Adventures of John Lee Hooker in the American Twentieth Century”
by Charles Shaar Murray
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