Courtney Love loses £360M.

[dunkrag]

http://www.guardian.co.uk/music/2009/apr/08/courtney-love-nirvana-millions-missing

So did this all go up her nose or what? Even by her standards this is quite a 'rock 'n' roll' achievement.

[Richie]

Couldn't happen to a nicer skank.

[NicolaUK]

It's probably down the back of the sofa?

[stampax]

She also seems to have lost her new album, that was going to be released on new years day.

[SIMON ADEBISI]

Who really cares???

The only good thing about her died 15 yrs ago on monday :(

[MrHat001]

Gotta agree with Richie.
I mean this bit from the article suprised me:
Despite Love's erratic career, her financial future had always seemed assured thanks to her husband's legacy. It was reported in 2006 that Love had sold her share of the Nirvana recordings for an estimated $50m.

I mean really why sell a share of the rights to music that is going to keep making you (and more importantly your daughter) money for the rest of your lifes.

[douglasb]

Gotta agree with Richie.
I mean this bit from the article suprised me:


I mean really why sell a share of the rights to music that is going to keep making you (and more importantly your daughter) money for the rest of your lifes.

It's basically along the lines of 'lets blame David Bowie for the economic crash' (have people seen that stuff?).

You sell the rights now based on potential future earnings. The buyer gambles on the fact that the music will continue to bring in income. Co-incidentally, the new owners recently bemoaned the fact that the Nirvana catalogue wasn't bringing in as much as they'd hoped. But what CL sold was some of the publishing rights, so it was stuff like the right to use Nirvana tunes in Diet Coke commercials, etc. - she's kept hold (AFAIK) to the more lucrative aspects. (Although it was only recently I found out US radio stations don't pay royalties - a big earner elsewhere in the world).

[BigH]

I reckon Steve Coogan has nicked it

[Mr Majestik]

I reckon Steve Coogan has nicked it

If he did what the papers said. He earned it.

[utero]

The last Hole album was pretty good, her solo effort wasn't bad either. This doesn't ring true to me as I can't see how $360 million could have been made by Nirvana's back catalogue in the last 10-15 years

[NicolaUK]

The last Hole album was pretty good, her solo effort wasn't bad either. This doesn't ring true to me as I can't see how $360 million could have been made by Nirvana's back catalogue in the last 10-15 years

There's merch too. I'm quite often surprised by how many people wear Nirvana T-shirts to gigs.

And then there's all the tours..............maybe not ;)

[GlennSh]

There's no way he could have been worth that kind of money. I would guess he was worth, what £8-10m when he died ? I cant imagine how that could accumulate 40x even taking everything into account. Not that she'd be the kind of person to exaggerate things...

EDIT: A couple of quotes made me :lol: though

Love only became aware there was a financial issue when she "noticed the money was gone ... there wasn't any left"

well :doh:

I have never seen such greed and moral turpitude

...I'm sure Dave & Kris will tell you to go look in the mirror

[douglasb]

It all adds up. Teen Spirit still averages between 6-7000 LEGAL downloads per week in the States alone.

[GlennSh]

so assuming a generous 10c per d/l thats what $30-40K pa....Keep going - only another third of a billion pounds to go ;)

[SIMON ADEBISI]

Damn she looks rough in that pic. I take it the fishlips arent natural.

[douglasb]

so assuming a generous 10c per d/l thats what $30-40K pa....Keep going - only another third of a billion pounds to go ;)

For one song. In one country. In one format.

Hey, I have no idea if the figure is inflated or not. But there's still a LOT of money to made - even from dead rock stars. Don't forget that the year CL sold off those publishing rights, the KC estate was *the* highest earning music-related entity. Bigger than Elvis, The Beatles - everyone - alive or dead.

Even at the end of last year, Nirvana have sold more albums that Metallica in the UK this decade.

[dazza001]

I too am very surprised by the size of the mooted figure - I seem to remember that Kurt didn't leave a lot of money when he died - IIRC, he was in the red or just slightly in the black? I know all the record sales, t-shirts etc meanwhile will have been very healthy, but to get to £360M? That's still a big chunk of change to make up. Then again, I guess we all agree that she ain't the most reliable source.

As utero says, Celebrity Skin was a good record (I take it that was the final Hole album?), and while her solo effort was way inferior there were a couple of decent tracks on it. Listening to Celebrity Skin (and some earlier Hole), it's a pity she became such a joke figure and in the press for all the wrong reasons, as there definitely was some talent there...

[Mr Majestik]

Damn she looks rough in that pic. I take it the fishlips arent natural.

What ever you do don't google "Courtney Love Q magazine"

[SIMON ADEBISI]

:| I have that issue somewhere.

[ian turner]

It's just a standard pop star gets screwed by financial advisors story which happens all the time especially if the victim in question is not all there.
As to the amount take into account splitting the cash at least 3 ways then subtracting the record companies percentage and remember that with the introduction of download only a subset of tracks really sell.
As to Dave and Chris saying look in the mirror haven't they been busy pulling a Doors grave robbing impersonation by digging up every possible recording made to release in various compilations and live albums ?
It's a non story really.

[Mr Majestik]

As if by some bizarre coincidence Courtney Love's albums leaked within hours of the story braking...

[DM]

I used to quite fancy her back in the day. Sue me!

[SIMON ADEBISI]

She was good looking in The People Vs Larry Flynt. Too much plastic surgery ruined her.

[douglasb]

Word is that there are some dates afoot: tickets for a show in Milan in February have gone on sale apparently. I've not seen her since uh ...95?