Man, I love pulse:
"The RCA FYE project probably does not include the Tour Revenue -- at least not the North American Tour which is 19, not RCA. Asia, Oz and NZ are also 19. I am not sure how UK/Europe is being managed.
But using industry averages and what is known about Sony/19R contracts, the FYE project is either in the black or close to it. BUT label accounting can be mysterious.
My rough calculation has the revenue we can see (recorded music, video, ringtones) at over $20 million at retail but not at wholesale -- which is what that label cares about -- retailers get a substantial gross margin on music sales. There are other revenues that we have little or no visibility to -- publishing, licensing, advertising, etc. -- that can be almost half of the profit contribution from an album."