Whitney Houston owed millions of dollars when she died
Story filed by Mikey on March 2, 2012
Whitney Houston is rumoured to be in the unusual position of owing millions of dollars to a major record label.
Speaking to The Daily, music industry ‘insider’ Wayne Rosso claims that Whitney signed a $100m deal with Sony for six albums back in 2001. Whitney drew down about $40m of this advance but after 2002’s ‘Just Whitney’ sold 3m worldwide, and 2009’s ‘I Look To You’ sold just 2.5m copies, the singer is alleged to still owe a considerable amount to her label.
Since the singer’s death, ‘Whitney – The Greatest Hits’, ‘The Bodyguard Soundtrack’ and ‘Whitney Houston’ have all returned to the Billbaord Top 10 but Russo warned it’s still going to be a while before the debt disappears.
“She owes Sony at least $20m,” he explained, “she’s going to have to sell 5m more records before her family sees a dime.”