- On Feb. 14, 2013, Amazon.com (AMZN) CEO Jeff Bezos sold 193,115 shares of his company's stock, taking in gross proceeds of $51,550,000. On Nov. 28 and 29, 2012, Bezos sold 395,051 shares (per day), collecting $98,762,750 and $98,702,502, respectively.
a Bloomberg Radio interview he did a few weeks back, Morgan speaks from both sides of his mouth. In one breath, he says he doesn't want more money from Pandora. He just opposes the company's desire to cut artists pay ( Alert: That's a talking point with no context). In the next, he moans about Tim Westergren cashing in a million dollars' worth of stock each month. Morgan can't seem to reconcile Westergren's riches with his $15 quarterly cut of the royalties Pandora pays out for the airplay his songs receive on the Internet radio service.
Morgan -- and people like him -- have never, do not and will never make a meaningful amount of money from royalties of any type. That is, unless they transcend categories musically/professionally or give up guitars and songbooks for a record executive's corner office. It's not Pandora's fault, the entire system sucks. If Pandora offered Morgan 100 times what he ends up getting from them, his take would still be insignificant. Morgan barks up the wrong tree. If it weren't for Pandora and Internet radio services like it, his music would never see the light of day. And, trust me, he's not getting rich -- or even getting by -- on what he makes via Apple ( AAPL) iTunes sales. Terrestrial radio sure as hell isn't spinning Morgan on a regular basis, if at all, so why should its Internet operations pay less than Pandora in publishing royalties? Blake, stop biting the hand -- let's not say "feeds" -- that gives you a fighting chance! Seek out partners, not charitable contributions to your starving artists' fund. Second, the entire music industry -- from the fat cats to the Morgans of the world -- must realize something now and adapt accordingly, right away. The legendary Jimmy Iovine knows the deal. The power lies in harnessing data and partnerships. Artists, now more than ever, need to treat their enterprises like the businesses they are. Interestingly, non-profits represent another area slow to realize this. There's a massive movement that encourages non-profits to run their operations more like traditional businesses. It takes a serious attitudinal shift for many executive directors and such to get their heads around the concept. Blake Morgan should spend less time squabbling over $15 and more time finding ways to connect with fans, promote himself more effectively and put together tours and other avenues of revenue generation. If he was willing to sit down with a guy like Tim Westergren, he might begin to understand what this process can look like. Third, I don't see the relevance in Morgan's I make $5 a month from Pandora and that snake Tim Westergren makes a million a month. Dig these numbers: