Welcome to my Music Diary – today for the 24th January!
On the 24th January 1962, manager Brian Epstein signed a contract with The Beatles. The management deal was time-limited for five years and gave Epstein 10 – 15 % of their income. Interestingly, Epstein didn’t sign this first contract: „Well, if they ever want to tear it up, they can hold me but I can’t hold them“. After that, Brian Epstein formed his own management company „NEMS Enterprises“. And on the 1st October 1962, the deal was renewed (including a three years publishing contract signed by John Lennon and Paul McCartney) and gave the manager 15 unitl 25 % of revenues, depending on Epstein’s help to increase the band’s earnings.
Four days later, the first single by The Beatles was released: „Love Me Do„, backed by „P.S. I Love You„, reached No. 17 on the UK chart and marked the beginning of an outstanding career of one of the most successful pop bands in history.
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