More details have emerged regarding the court case pitting A Day To Remember against former record label Victory Records, which resulted in the band being awarded roughly $4 million last week.
Billboard.com reports that A Day To Remember one "three key issues" in the trial: the fulfillment of their contract, control over their publishing, and digital royalty withholdings. Meanwhile, Victory retained the band's master recordings. Monetarily, A Day To Remember was awarded $4.02, while Victory received nothing.
Will Parsons, a lawyer representing the band told Billboard, "We went into trial seeking damages of $6 million, while the other side was seeking $9 million. With the verdict, we got $4 million and they got nothing."
Of the money awarded, $2.8 million was reportedly royalties and interest, while $1.2 million was "related to a claim over incorrectly withheld reserves." Victory Records attorney Robert Meloni says that Victory plans to appeal the latter portion of the verdict.
The trial also pulled back the curtain on some of the details of the Victory and A Day To Remember contract, as per Billboard:
"Victory would pay A Day To Remember a $20,000 advance in support of its first album and $15,000 for the publishing on that album. Subsequent albums would also receive (undisclosed) advances. The royalty structure was 11.5 percent of the suggested list price for its first album, with that rate increasing by 1 percentage point for each subsequent record. If an album reached sales of 100,000, that rate would increase by half of a percentage point. In a separate deal, Victory also agreed to pay $1.50 a unit for publishing and record royalties for [re-recorded debut album] 'Old Record'."
20 Comments
Related News
THE VANFLIP PODCAST
#174 - Brandon Byars of Your Spirit Dies
THE VANFLIP PODCAST
#173 - Ray Harkins of Taken/Bloodguilt