"Will Leibovitz Lose Photo Rights?"

Discussion in 'Digital Photography' started by GoCubsGo, Aug 4, 2009.

  1. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #1
    This interests me quite a bit and I just heard it on NPR.
    Come next month if Annie Leibovitz cannot somehow repay $24m she may lose the rights to her work.
    Article Link
     
  2. Plymouthbreezer macrumors 601

    Plymouthbreezer

    Joined:
    Feb 27, 2005
    Location:
    Massachusetts
    #2
    Ouch.

    As a person who replies on my creative works to partially pay the bills, I would never be this risky with the rights to my work.

    I think she has a small ego problem, and this might have lead to an overinflated idea of her self worth.

    Nonetheless, I hope for her sake, and the entire community she's impacted, that there's a good resolution to this.
     
  3. taylorwilsdon macrumors 68000

    taylorwilsdon

    Joined:
    Nov 16, 2006
    Location:
    Bay Area
    #3
    I immensely respect her work as a photographer, but I think she needs to take a serious look at her life if she's (a) borrowing 25 million dollars in the first place, and (b) can't pay it back now.
     
  4. Abraxsis macrumors 6502

    Abraxsis

    Joined:
    Sep 23, 2003
    Location:
    Kentucky
    #4
    To be honest, this might just be an intelligent move on Annie's part. Think about it, she is getting older and when she dies she will continue to be one of the most influential photographers of the 20th Century. Regardless of who owns the rights of the works. Look at the Beatles catalog, until a few years ago it was owned by Michael Jackson, but that didn't hurt Ringo/Paul/Yoko/George because their fame made them plenty of money. Same with Annie, she pockets 25 millions bucks, which she sets up in an "in perpetuity" trust fund and her kids, and her kid's kids are set for life. Annie walks away and continues shooting, making new pictures which she will have the rights for.

    Also, per the article the Art "loanshark" only lends up to 40% of the value, which means if they do Auction off her works any proceeds beyond 25 million and some change would go into Annie's pocket. That is of course barring any weird contractual limits. It's basically like a home loan, when you default the bank sells the property, anything over what you owe them comes to you in a check.

    In the long run, it is sometimes better to use what you got in hand, than waiting for something that might happen. She took 25 mil in a lump sum ... so what, it's not like they bought her rights to shoot new images. She still has god only knows how many hundreds of thousands, if not millions, of dollars worth of equipment, her talent, and her name (which can sometimes go further than talent so it seems). Maybe she knows this and laughed all the way to the bank ...
     

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