On February 11, 1955, Elvis covered Arthur Gunter’s “Baby, Let’s Play House.” Gunter had recorded the song on Excello the previous year and Elvis’ rendition is memorable, as it was his first national hit. Believe it or not, it did not chart on the pop or R&B charts as did his Sun contemporaries had done or will do, “Baby, Let’s Play House” was a #5 record on the country charts.
When RCA bought out Elvis’ contract from Sam Phillips late in 1955, they paid $40 thousand – which was the highest payment for a recording contract to date. In 2013 dollars, that equals $343 thousand. This was a small investment for the millions upon millions that RCA earned from his years with RCA from 1956 to his death in 1977 and beyond.
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