Wonderbucks

At a time when much of the recording industry is feeling the nation's economic squeeze--a few companies report sales down as much as 30%--Motown Record Corp., the black pop-music giant, has given Megastar Stevie Wonder, 25, a new contract for a guaranteed minimum of $13 million. If the singer-songwriter delivers more than the single annual LP required by the seven-year agreement, he can earn up to $24 million. The largest parcel handed out yet by a record company, Wonder's contract is worth as much as the Elton John ($8 million) and Neil Diamond (about $5 million) deals combined. Motown's announcement is strategically timed. There were rumors that Stevie might skip, but he is loyal. He says, "If it were not for Motown, many of us just would not have had a shot at success. I'm staying because it is the only viable black-owned company in the record industry."

Wonder, who has won ten Grammy awards in the past two years, averages 1 million sales per record. Since he began recording at Motown as twelve-year-old Little Stevie Wonder, he has sold more than 30 million albums. Asked about how the current contract compares with Wonder's early paydays, Motown Records President Ewart Abner just laughed. "We're not even talking about apples and oranges," he said. "It's more like comparing mustard seeds and watermelons."

This file is automatically generated by a robot program, so viewer discretion is required.