They Tell Me It's Cool, But I Just Don't Believe It
you're gonna go to the record store
you're gonna give'em all your money
radio plays what they want you to hear
they tell me it's cool, but i just don't believe it
--Reel Big Fish
There's been some talk recently about the proposed "Compact Disc Minimum Advertised Price Antitrust Litigation Settlement". Under this settlement some record companies and retailers are willing to compensate us for gouging us for the past thirty years with ridiculously inflated prices if we'll agree to take a little money and leave them alone.
Under this settlement, if you've bought a compact disc (or cassette or vinyl record) from a retailer between 1995 and 2000, you're eligible for a (very) little bit of money in reparations. Maybe. Some record distributors and retailers will pony up a maximum of $67,375,000 to be distributed among all the various claimants after, of course, the lawyers take their fees. You can only make one claim, no matter how many records you've bought. The payment per claimant can be no more than $20. If the per-claimant settlement drops below $5, the money will go to "not-for-profit, charitable, governmental or public entities to be used for music-related purposes or programs for the benefit of consumers who purchased Music Products". Whatever that means.
In other words, file a claim and you may receive between five and twenty bucks. Or you may not. That's fair, right?
Consider this:
I was at a mall record store recently--I hadn't been in one for probably 10 years or so. I came across Elton John's Greatest Hits--the regluar single-disc collection that was originally released in 1975(?) and we all had on vinyl. It was priced at $18.99.
EIGHTEEN FUCKING NINETY-NINE!!
That album has been sold many many millions of times on multiple formats. Forget that the production costs on it were virtually nil to begin with, since it was all previously-released material. The profit on that, I would guess, after artist royalties, manufacturing and distribution costs, and the retailer's cut is probably in the neighborhood of $14. I'm not a music industry accountant or anything, so this is pure guesswork, but I can't be too far off. Hell, knock a big chunk off, just to be generous. Call it $11 per disc.
Consider that not all records are sold for $18.99, few records sell as well as EJ's Greatest Hits, and record companies do deserve a big profit. Let's call the mark-up seven bucks. Suppose, too, that space aliens have been coming down for decades and skimming two dollars off the top for every disc sold. That's five bucks a pop that we've been gouged.
Now, how much have I been overcharged over the years? I've bought approximately 1000 CDs in the last 18 years or so. $5 x 1000 = $5000. Cut it in half, because most people don't buy that many CDs. $2500. Cut it in half again, just to be generous. $1250. Now cut it in fourths because this whole fucking this is ludicrous, so our math should be too. That's $312.50.
And they want to give me $20. (That's a whopping two cents per disc.) Which will probably turn out closer to five. Which will probably turn out to be NOTHING, as this thing is beginning to get publicized and soon everyone will be lining up for their shot of SOMA.
I've got a much better idea. Why don't Tommy Mottola, Richard Branson, Musicland, and all the other bastards involved in this--in the words of my favorite cult author and internet celebrity--slowly and gently fuck the fuck off? They been exploiting artists and gouging the public for decades and they think this settlement will make up for it? They can take their two pennies and shove them. I've found a much better way to even the score. It involves:
a. Never buying another major label record as long as I live. (They're free on the internet, dontchaknow.)
b. Never paying more than $12 for a CD for the rest of my life. (I haven't in many years. Even $12 is way overpriced, but I won't quibble.)
c. Supporting the SHIT out of independent labels and mom-and-pop record stores. (Competition forces prices down.)
and
d. Buying used CDs whenever possible. (Stay out of the loop altogether.)
In the meantime, they can keep their five bucks. It don't buy shit at the record store, anyway.