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Why Jay-Z And Madonna Have Davy Jones To Thank For Their Paychecks

Last week, The Monkees’ frontman Davy Jones passed away at the age of 66 from a heart attack.

While younger generations may have had to google the legendary singer’s name, what most don’t realize is that Jones—who some call the original Justin Bieber—paved the way for “360-degree” music deals now implemented by the likes of Jay-Z, Madonna, Robbie Williams and U2.

By using a 360 deal, “an artist gives up partial rights to multiple revenue streams in exchange for a hefty advance,” reports Forbes. “It came on the heels of British pop star Robbie Williams’ 80 million pounds-sterling pact with EMI in 2002; Madonna followed by signing a $120 million agreement with Live Nation in 2007.”

Brought to you by statista.com via businessinsider.com.

Brought to you by statista.com via businessinsider.com

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