The numbers are scary: WB claims to be $300k out but they're not accounting for a sizable revenue stream. The post mentions the band earned $12k in 5 years from albums they control, and they expected the albums WB control to earn 2-5X more. Assume 5x$12, and you'll get closer to $200k.
Do that over quite a few years, and they'll end up owing the band money while the band members are alive. Keep telling them $62 over five years and they'll never ever need to write them a cheque.
His point is that the company is misrepresenting money promised by the contract; if the contract were actually enforced, the band might completely repay their advance in another five years and be owed money.
It's like in The Producers... Whether intentionally or not, the record labels are banking on the fact that people do not look too closely at the accounting of a losing enterprise.
As the copyright extensions and DMCA demonstrate, the big media companies own the gov't. It's not theft if it's legal, and it's not illegal if the gov't won't prosecute.
Do that over quite a few years, and they'll end up owing the band money while the band members are alive. Keep telling them $62 over five years and they'll never ever need to write them a cheque.
How is this not pure and simple theft?