The Boys awash in cash

Back - Index - Submissions - - What is RSS? Date: Nov 17, 2099 Source: The Buffalo News Submitted By: Y 11/15/99 The Backstreet Boys just became the Cashstreet Boys. The Boys this week reportedly agreed to one of the biggest record deals ever, for $60 million. The Backstreeters signed for that amount with Jive Records for a five-album deal, according to the the Hollywood Reporter. Perhaps even more stunning is the group will reportedly receive a royalty rate of as much as 20 percent per album. Most acts receive only a few cents per album. Many acts, such as George Michael, Elton John and the Goo Goo Dolls have had to sue their labels or management for better deals. "The (new) contract puts the Backstreet Boys in the same financial stratum as such multi- million-dollar artists as Prince, Michael Jackson and the Rolling Stones," the Hollywood Reporter stated. Why would a label shell out that kind of dough? The Backstreet Boys have sold nearly 40 million albums in the past four years. "Millennium," the group's current CD, has sold nearly 7 million copies, making it the biggest album of this year. The Backstreet Boys are a money machine. The Boys concert at Marine Midland Arena, counting ticket sales and merchandise sales, will gross more than half a million dollars. - Anthony Violanti Comment on this item. Next Item: Mom and Dad find quiet and coffee waiting in the Parents Room Prev Item: Crushed: Backstreet Boys disappoint