Dolly Parton’s smartest business move was saying no to Elvis Presley

In what world does a young, sequined state vocalist pinch conscionable a fistful of chart-toppers to her sanction move down a typical petition from the King of Rock?

In Dollywood, of course.

Dolly Parton, who died connected Tuesday, was little than a decade into her profession erstwhile she released the twangy torch opus "I Will Always Love You" successful 1974. It topped Billboard's Hot Country Songs chart for 1 week, becoming her 3rd No. 1 aft "Joshua" successful 1971 and "Jolene" earlier that year.

Elvis Presley, meanwhile, was already a philharmonic fable and commercialized titan erstwhile he took a liking to Parton's tune.

Over the years, Parton has recounted the communicative respective times, saying she was ecstatic erstwhile she sewage the telephone that Presley wanted to screen "I Will Always Love You." It was the benignant of headline-making endorsement that could make a musician's career: If Presley's type became a hit, it could beryllium a awesome financial windfall for Parton arsenic the sole songwriter.

However, Parton's excitement dissipated erstwhile she sewage different telephone from Colonel Tom Parker, Presley's manager astatine the time.

"He said, 'You cognize that we don't grounds thing pinch Elvis unless we person the publishing,'" Parton precocious recalled to Howard Stern. "And I said, 'Well, that's not possible, because that is my astir important copyright. I've sewage my ain publishing company."

"He said, 'Well, astatine slightest you've sewage to springiness america half,'" she continued. "I said, 'I can't do that.'"

Parton stood her crushed connected not giving up aliases splitting the publishing authorities — meaning the ineligible ownership and power of Parton's composition, and a bully chunk of the song's royalties, excessively — moreover though it was personally devastating.

"I wanted to perceive Elvis singing it, and it collapsed my bosom — I cried each night," Parton said successful 2021. "But I had to support that copyright successful my pocket. You person to return attraction of your business! Everybody's going to usage you if they can. These are my songs — they're for illustration my children. And I expect them to support maine erstwhile I'm old."

'I Will Always Love You' still became a money-maker without Presley

While "I Will Always Love You" was already a humble deed connected the state charts, Parton knew she was taking a consequence by passing up Presley's offer.

"I already told everybody Elvis was doing my song. But I thought, you know, I can't do it. And I didn't," Parton told CNBC. "It was conscionable 1 of those first really difficult business decisions I had to make."

That determination paid disconnected handsomely astir 2 decades later, erstwhile Whitney Houston recorded her ain type of "I Will Always Love You" for the soundtrack of her 1992 blockbuster, "The Bodyguard."

Houston's type topped the Billboard Hot 100 floor plan for a record-breaking 14 weeks and was later certified diamond by the Recording Industry Association of America, meaning it sold astatine slightest 10 cardinal copies successful the US. It's go known arsenic 1 of the most celebrated emotion songs of each time.

Parton remained the sole songwriter credited connected the way and retained the publishing rights. She once quipped that Houston's version made her "enough money to bargain Graceland."

Parton later revealed that she invested the song's royalties successful a Black organization successful her location authorities of Tennessee, calling it "the location that Whitney built."

"A batch of group opportunity that's Whitney's song," Parton told Katie Couric successful 2016, "and I ever say, 'That's fine, she tin person the credit, I conscionable want my cash.'"

Parton's business savvy is reflected successful today's popular stars

Parton's large payoff illustrates the value of publishing authorities arsenic 1 of a musician's astir valuable assets.

Some of the savviest businesswomen successful the euphony manufacture coming person followed successful Parton's footsteps, main among them Taylor Swift.

Swift's $2 cardinal fortune is mostly acknowledgment to the worth of her catalog; she is the sole aliases lead songwriter connected each opus she's ever released, earning her a important chunk of royalties.

After Swift signed pinch a new grounds label successful 2018 and near her aged masters behind, she launched the "Taylor's Version" project, successful which she re-recorded caller versions of her past albums successful bid to ain them outright. The task served to devalue the original recordings that Swift didn't own, which apt won her leverage successful negotiations to acquisition her life's work, which she did successful 2025.

Younger songwriters person besides made a constituent to clasp ownership of their masters, including Olivia Rodrigo, who cited Swift arsenic an inspiration. Indeed, it's go progressively celebrated for rising stars to forgo the accepted explanation system and enactment independent — a riskier way pinch a smaller information net, but 1 pinch the imaginable of much power and a bigger trim of the profits.

In each likelihood, that's conscionable arsenic Parton would person liked it.

"Dolly gave america personification to look up to while encouraging america to beryllium who we are arsenic individuals," Swift told The Hollywood Reporter successful a connection aft Parton's death. "She possessed the softest bosom erstwhile it came to the struggles of others, and a backbone of alloy to take sides her ain aforesaid worthy arsenic an artist."