May 14, 2014
The Chainsmokers Sign Pair Of Million Dollar Deals
Guy Sebastian - Like A Drum (The Chainsmokers Remix) [Sony]

But first, let me sign a million dollar deal.

Actually, make that two million dollar deals. Billboard reports that The Chainsmokers, the devious duo behind the tongue-in-cheek #1 hit #Selfie, have just signed two deals with Sony/ATV and Republic Records believed to be worth $1 million each.

Billboard’s story sheds some light on the events leading up to the success of #Selfie and the career-changing deals for the duo.

Sony/ATV chairman/CEO Martin Bandier and his team had been keeping an eye on the EDM act for some months. But neither Bandier’s team — nor Republic Records, which had signed The Chainsmokers a few weeks before the ­publisher’s deal — expected “#Selfie” to blow up as big and as fast as it did.

“We were already in talks but this added whipped cream to the cake,” says Bandier. “It made us add a little more money to the deal. I do mean a little.” Sony/ATV isn’t talking about the terms, but it’s believed to be worth over $1 million, according to a person familiar with the terms.

The Chainsmokers are currently in the midst of a three-song contract with Steve Aoki’s Dim Mak Records. Their multi-album deal with Republic Records will begin following the end of that contract.

#Selfie has over 100 million views on YouTube and, according to Nielsen SoundScan, has been downloaded over 725,000 times. Billboard estimates the song has earned more than $2 million. Not so bad for a “joke” song, eh?

Airplay enabled