"So then when you finally realize, years later, when you might be having a couple money problems and somebody put in your ear, 'Yo, they weren't supposed to do this and they owe you...' 'Cause Sony really owe me like about $15 million, bro," he explained.
The dollar amount shocked BagFuel hosts Esso World and Hynaken, while Jennings elaborated that he had a clause in his contract that stated that the label couldn't "cross-collateralize."
"Which means that if your third album tank but your first two albums was low, they can recoup the tanking from your third album from your first two," Jennings said. "I didn't have that in my contract but when I looked they had cross-collateralized everything.
The singer then shared that he owes Sony Music one million from his 2004 debut album, Lyfe 268‒192, although he missed the audit window.
"So now they'll be like, 'Yeah, we made some calculation errors, but you didn't catch it in three years, so we don't owe you nothing.'"
While Jennings initially pursued a forensic audit, he decided not to go through with it due to mounting expenses.
"The reason why I didn't do it is because look how these cats play and I respect it," he said. "When we put in to get all the paperwork, no bullshit ,we got a FedEx truck with probably like 40 boxes in it."
He continued, "And if they owe me $15 million it makes financial sense that they can spend $5 million just making this s*** go on 80 years. But for me, I only got a certain budget, so I took out–what said in the beginning–I just accepted it, because it is what it is. I don't got the money to fight them, i'll be more careful next time.
Lyle Jennings Claims That Sony Music Owes Him $15 Million Dollars Hypothetically of course
Funny how these labels are constantly making "calculation errors" when it comes to paying artists.
Theres probably total billions of dollars labels owe to artists that arent paid cause of legal/administrative obfuscation. Ive heard other stories where the artist would enquire and the label would reluctantly hand over millions cause the artist is legally entitled, all the label can do is hope the artist stays unaware
Funny how these labels are constantly making "calculation errors" when it comes to paying artists.
Top 10 album of all time, legend
Go argue with your ex wife
!https://www.youtube.com/watch?v=nla3Im_hrCk&list=PL7eVRLtUZKytjCA1ivSGUV1o-Xb9ktqEZ&index=4&pp=iAQB8AUB!https://www.youtube.com/watch?v=hd4XyPHEt5I&list=PL7eVRLtUZKytjCA1ivSGUV1o-Xb9ktqEZ&index=12!https://www.youtube.com/watch?v=IBjFPTkNcBM&list=PL7eVRLtUZKytjCA1ivSGUV1o-Xb9ktqEZ&index=10!https://www.youtube.com/watch?v=YvZ3V-OzNSM&list=PL7eVRLtUZKytjCA1ivSGUV1o-Xb9ktqEZ&index=9!https://www.youtube.com/watch?v=s8iK5d-Cjb0&list=PL7eVRLtUZKytjCA1ivSGUV1o-Xb9ktqEZ&index=6!https://www.youtube.com/watch?v=1OvcIRpHhO0&list=PL7eVRLtUZKytjCA1ivSGUV1o-Xb9ktqEZ&index=8no lies detected
Theres probably total billions of dollars labels owe to artists that arent paid cause of legal/administrative obfuscation. Ive heard other stories where the artist would enquire and the label would reluctantly hand over millions cause the artist is legally entitled, all the label can do is hope the artist stays unaware
artists need to stay on top of their buisness while its going on
its always harder to get payment once its all over and the money is spent unless you have a really-really good papertrail, unfortunately
Lyle Jennings Claims That Sony Music Owes Him $15 Million Dollars Hypothetically of course
The Way I Feel About You labels and my money