by tikibars » Tue Aug 21, 2007 4:09 am
I have been working in the music biz professionally for almost 20 years, so perhaps I can offer some insight.
First of all, are we talking about stereo master tapes, or 24 (or 16) track multitracks?
If it is the latter, these tapes are not of much use to a label, since there is almost certainly no chance of the labels using them for any purpose anymore. The only reason they'd be needed is if a full remix or a 5.1 remix were requested. This is very rare for all but the biggest artists, as the 5.1 audio formats don't sell well, and most labels aren't bothering to do 5.1 editions of any but the biggest artists.
However, as archival and historical material they are priceless. But, the vast majority of studios out there no longer even have machines that will play these tapes.
If we're talking about the 2-track production masters, then these are what will almost certainly be used to produce CD (or other format) reissues. Therefore, they're more valuable from a strictly business perspective.
In many cases, studios - who often store the tapes for the labels - have purged their tape libraries during the past decade, when recording to hard drives became the industry standard. Decades of tape were cluttering up storage rooms, and the studios wanted this clutter out.
One studio that I worked in called all of their clients and had them come by and pick up tapes that in some cases had been in storage for decades. Any clients that could not be contacted had their tapes uncerimoniously dumped into the trash.
Now, once the tapes are recovered, this does NOT give the artist the right to reissue their own music. Possession of the tapes means nothing; the intellectual property of the sound recordings on those tapes is probably still owned by the record label. Reissue labels license these recordings from the original label, and if an artist wants to do reissues themselves, they will probably need to negotiate a deal with their former label.
For example, I helped Jim Skafish rescue his 24-track masters from his IRS records years. He acquired his tapes from IRS records, and then with my help we transferred the Skafish album's 24-track tapes to a more archival format (tape disintegrates over time). The tapes for his (AMAZING) unissued second LP (it is MUCH better than the first one - a real crime that no one ever heard it) have been preserved by digitizing them into 24-bit resolution, track-by-track, using Apogee conversion. That's the good news.
The bad news is that he can't release this stuff without negotiating a deal with IRS or whomever owns their catalogue. He may be working on it; I haven't talked to him in about 2 years.
Anyway, hope this insight helps.