McCartney: $400 million windfall
Paul McCartney will make nearly $400 million when the Beatles’ music is made available on the Internet, according to reports.
Sir Macca was at the center of lawsuit between the Fab Four and EMI over a royalties dispute launched by the band in 2005.
Yesterday it was confirmed an agreement has been reached between both parties, which is expected to finally prompt the availability of Beatles music for download.
McCartney and Yoko Ono, John Lennon’s widow, are expected to take the lion’s share of revenue from the new source of Beatles’ income.
“That might just be a few per cent, but on a billion pounds of sales, that is hundreds of millions for the likes of Paul and Yoko. The release of the back catalog though iTunes will be the most extraordinary money-spinner,” a source told a U.K. newspaper.
“We are talking perhaps 14 remastered albums and numerous opportunities to release singles.”
