Quick, name the two best ways to get rich in today's society. If you answered "be in a boy band" and "have partial ownership of a boy band," then you're not right at all (telecoms) but you're thinking somewhat like a music writer. Or at least like the members of One Direction. News was confirmed by several sources including Billboard that One Direction not only supports 5 Seconds of Summer...they profit from it.
The truth wasn't that difficult to dig up with a little bit of research. London-based company 5SOS LLC represents the Australian pop rockers. The company is divided between three owners: 5 Seconds of Summer itself, British management company Modest and a lesser known organization titled One Mode Productions. A little additional digging reveals that the directors for One Mode are none other than the members of One Direction.
So how much cheese is the deal bringing in for the band? Billboard reveals that the part owned by non-5 Seconds entities totals 120 shares, although it doesn't mention how many shares exist in general. The publication estimates that each member of One Direction has made about $25,000 this year from the 5 Seconds of Summer investment. On one hand, that's not Apple-buying-Beats money but it's not something to snuff off either (maybe it is if you're an internationally adored pop star. We dunno).
All-in-all a smart investment for One Direction and proof that they're not just cute. Other acts that have made at least a little extra spending money off of buying into other acts include Lil Wayne's investment in Nicki Minaj (paying off big dividends right now) and Justin Bieber's support of fellow Canadian Carly Rae Jepsen (not a total loss).
© 2024 MusicTimes.com All rights reserved. Do not reproduce without permission.
