AOTM: Tom Petty Stands Up to His Record Label

GLENDALE, AZ – FEBRUARY 03: Tom Petty and The Heartbreakers wave to the crowed after performing at the Bridgestone halftime show during Super Bowl XLII between the New York Giants and the New England Patriots on February 3, 2008 at the University of Phoenix Stadium in Glendale, Arizona. (Photo by Doug Pensinger/Getty Images)

The year was 1981. Tom Petty and the Heartbreakers were at the top of their game. Their album Damn the Torpedoes was one of the best-selling albums of 1980. It hit number two on the Billboard 200, and was eventually certified platinum. The follow-up album Hard Promises was eagerly anticipated and proved to be equally amazing, however, Tom Petty had to stand up to his record company before the album could be released.

The dispute with his record company, MCA Records, is not the first. Damn the Torpedoes was finally released after an extensive contractual dispute with them. Petty wanted the Heartbreakers to be the major artist on the smaller label, Backstreet Records, and retain his publishing rights. MCA, however, wasn’t going to budge. The dispute was so extensive that Petty filed for bankruptcy and likewise he wasn’t going to back down either. Once Petty and the Heartbreakers were moved to Backstreet Records and publishing rights returned to them, they began working on a new album. This album’s release would be held up, too, with another record label dispute.

This new dispute wasn’t about publishing rights or contracts; it focused on the price of the new album. Hard Promises was set by MCA Records to sell at $9.95. This pricing was considered “superstar pricing”, however, Petty was having none of it. His argument centered on the record label not really knowing the fans and what was happening out on the street. He believed the price hike was wrong and said, “MCA has done a great job selling our records, but they couldn’t see the reality of what it’s like on the street – they couldn’t see that raising the album’s price wouldn’t be fair (nytimes.com).” Petty also recognized that MCA’s stance on raising prices on albums were part of the norm. Most record labels were moving in that direction and MCA was just doing what was expected in the industry, however, he stood up to the label’s decision, “My beef with MCA was that they originally told us ‘Hard Promises’ would be $8.98 and then changed their minds… I’m not usually as concerned with record company business as you might think; I like to devote my time and energy to being a musician. But sometimes there’s a communications breakdown and, when that happens, you just have to stand up for yourself (nytimes.com).” MCA finally chose to keep Tom Petty and the Heartbreaker’s record at the $8.98 selling price. Hard Promises went on to be a Top 10 album on the Billboard 200, and ended up being certified platinum (selling at least one million copies).

Tom Petty understands that he prefers to work in the artistry of music. He also understands that when he needs to stand up for things, he does it without hesitation. MCA Records attempted to raise the price of Hard Promises to “superstar pricing”, however, Petty argued that this pricing was outrageous and did not relate to the fans on the street. Petty’s determination to stand his ground in 1981 proved fruitful. There are times when it isn’t necessary to stand up and be heard. Then there are other times in which it is vitally important to do so. Tom Petty knew this was one moment in his career he had to stand up and say something.

~Jenna Jakes, WOGB

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