Almost everyone has heard the term “One hit wonder”. Being a one hit wonder is usually looked as a bad thing. But in the case of Dieter Meier, the writer of the famous “Oh Yeah” song used in Ferris Bullers Day Off and endless other movies and advertisements the income from this song became a stepping stone for investments that would help him build a $175 million dollar fortune. Aside from owning shares in some interesting swiss companies. Meier also owns 250000 acres of land in Argentina. The Wall Street Journal article states that his father initially helped him make some early investment decisions that paid off big.
If you are just starting out in the music business heed this lesson. Meier should be the model for every aspiring songwriter. Take what you make from your songs and invest your profits (money coming from royalties and sync fees) in a way that will continue to let it grow. This one asset for Dieter Meier has created several long-term income streams. I tip my hat to your sir. Well played.
Something to think about as you build your song catalog and begin to profit from your synchronizations of it.
Read more about this story from:
The Wall Street Journal – Full Article
Hear the original song in all its electropop glory.