This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 Terrible Financial Choices in Music History

Stocks in this article: SNE TWX VIA.B ERTS

4. Garth Brooks unleashes Chris Gaines
Maybe it was the Y2K scare or a fear of all those zeroes, but Mariah Carey wasn't the only '90s music superstar to lose the handle as the 2000s arrived. Garth Brooks, for example, had been named the second-best-selling solo artist of the 20th century behind Elvis Presley by the Recording Industry Association of America. Four of his first six albums between 1989 and 1997 sold more than 10 million copies, with 1990's No Fences nearly doubling that mark and 1992's The Chase not missing it by much. He got to collaborate with Kiss on a cover of Hard Luck Woman in 1994 and the debut of his seventh album, 1997's Sevens, was so big that it warranted a concert on the Great Lawn in Central Park. Even if music fans knew nothing about modern country in the 1990s, they knew Brooks because he took it to them.

Then he went crazy.

Like Fleetwood Mac did when it followed up its inescapable Rumors album with the more experimental Tusk, Brooks decided at the height of his powers that success meant unlimited artistic freedom. With backing from Viacom's (VIA.B) Paramount Pictures, Brooks started work on a movie featuring a country-singing alter ego he named Chris Gaines. It's a cute enough concept, but when you make a fake VH1: Behind the Music about that character, refer to that character in second person during a Saturday Night Live appearance and release a "prequel" album -- Garth Brooks in ... The Life of Chris Gaines -- you're going into the dark place. That little foray led Brooks to 2 million album sales, easily the lowest of any record he'd ever made, and years of semi-retirement after the release of his last album Scarecrow roughly a decade ago.

Brooks is now booked solid at the Wynn (WYNN) Encore casino in Las Vegas and, while his sales have since surpassed Elvis', his new turn as a Vegas nostalgia act is a big step away from Central Park and a little too close to Presley's own career path.

8 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs