Fact #168842
When:
Short story:
Allegedly to give Jimi Hendrix greater control over his finances, a new company, Are You Experienced Ltd, is formed to replace Yameta, but Hendrix's former manager Michael Jeffery still gets 40%. On the same day, an unannounced Jimi Hendrix Experience concert takes place at Sgt Peppers, Majorca, Europe, with Jim Leverton and Neil Landon joining in.Full article:
Michael Hecht (accountant to Henry Steingarten) : I remember his (Jeffery's) share being on the high side of what was considered a normal business relationship.
Steve Weiss (attorney to Mike Jeffery) : Before we started to self-promote Jimi's concerts, there was a lot of difficulty in his obtaining dates in America because, at that time, he was considered to be a very erotic act. Most of the deals available then were 60% artists, 40% promoter. We hired a promoter and paid him a small percentage (10%) for promoting the concert. That way, if you did very well, the artist made a lot more of the money. You could only do this with an artist of Jimi's stature because, if you guessed wrong, the artist wouldn't make as much or might even lose money.
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Steve Weiss (attorney to Mike Jeffery) : Before we started to self-promote Jimi's concerts, there was a lot of difficulty in his obtaining dates in America because, at that time, he was considered to be a very erotic act. Most of the deals available then were 60% artists, 40% promoter. We hired a promoter and paid him a small percentage (10%) for promoting the concert. That way, if you did very well, the artist made a lot more of the money. You could only do this with an artist of Jimi's stature because, if you guessed wrong, the artist wouldn't make as much or might even lose money.