Seymour Stein recalls Signing a then 24 year old Madonna on a hospital bed.

[Spicechinodiva]

https://variety.com/2018/biz/news/how-i-met-madonna-by-seymour-stein-the-man-who-signed-her-book-excerpt-1202846755/

 

In an excerpt from his book. Seymour Stein recalls Madonna and offering her first record deal.

 

Madonna being the hustler she is and as Seymour Stein puts it

 

"More balls than four men put together".

 

He was recovering from A bypass surgery almost 40 years ago. 

Well knowing Madonna she called him amd and said she was on her way to his hospital room. 

 

He called his security.  

"Quick, get me some loose fitting pjs, I cant be seen looking like a mess in a hospital gown".

 

She was there boombox and all. Played Everybody for him. Seymour offered her 24,000 for two 12" singles (even he knew she was suited for the clubs not pop radio) and a royalty of 10,000 for each song Madonna wrote. Everybody,  Burning up were self written by Madonna so that 20,000 were all hers to keep along with the 24,000. So she made 44,000 on her initial contract. That would become a 4 studio album deal, one remix album (You can dance is noted as the first remix album creating a new trend in pop music) two soundtracks who's that girl and I'm breathless and one greatest hits set. The iconic best selling compilation by a solo artist ever. THE IMMACULATE COLLECTION. THIS ORIGINAL DEAL WAS WORTH 45 MILLION DOLLARS. 

 

A  DEAL she would historically surpass in 1992 when she created her own Label with Warner (Now a live nation Management which she makes a royalty percentage off Miley cyrus,  Britney spears,  etc. More on that) Maverick entertainment. Films, Books (s.e.x.) and albums. 

 

Then in 2007. She broke the record and the mold when she signed her deal with Live nation. 

$120 Million. No other female has surpassed that amount and probably won't given the nature of the music industry.

 

That deal gave her 92% back in earnings from album sales (Hint why all her three albums this decade. She licensed to both live nation and Interscope records. ), concert ticket sales ( why they are so expensive), merch and website control.

 

Plus she makes about 25% off all live nation tours, las vegas residencies, etc. 

 

So for all you people seeing your fav act thru live nation. Madonna makes a profit thx to the deal. By the way, even though the deal is over. Thx to The Maverick management which is permanently part of Live nation. She still makes bank when Britney,  Miley,  Shania or any other Maverick client releases music or tours. 

 

@JordanMiller