Madonna reportedly set to ditch record label
Could she sign a unique deal?
Madonna is apparently on the verge of leaving her longtime label Warner Music for a $120 million ten year deal with concert promotion leviathan Live Nation.
Although she still has one album left in her deal to deliver to Warners, Madonna is reportedly close to signing on the dotted line.
The deal with Live Nation would provide her with a mix of cash and stock in exchange for the rights to sell three albums, promote her tours, sell merchandise and license her name.
This is a departure from the usual framework, in which albums and concert promotion are handled by separate entities.
According to The Wall Street Journal, Madonna's last two Live Nation-produced tours have grossed $400 million, but industry pundits speculate that in order for Live Nation to make a profit from this new deal, Madonna would have to sell around 15 million copies of each of these future three albums.
Warners would retain the rights to her back catalogue.
--By our New York staff.
Find out more about NME.
Although she still has one album left in her deal to deliver to Warners, Madonna is reportedly close to signing on the dotted line.
The deal with Live Nation would provide her with a mix of cash and stock in exchange for the rights to sell three albums, promote her tours, sell merchandise and license her name.
This is a departure from the usual framework, in which albums and concert promotion are handled by separate entities.
According to The Wall Street Journal, Madonna's last two Live Nation-produced tours have grossed $400 million, but industry pundits speculate that in order for Live Nation to make a profit from this new deal, Madonna would have to sell around 15 million copies of each of these future three albums.
Warners would retain the rights to her back catalogue.
--By our New York staff.
Find out more about NME.
More News:
Madonna
More Madonna
Madonna's neighbour sues her over loud music- Guy Ritchie breaks silence on Madonna: 'I still love her but she's retarded'
- Madonna keeps Muse and Dizzee Rascal off album chart top spot
- Bulgarian church blames Madonna for boat tragedy
- Madonna's 'Sticky And Sweet tour' is highest-earning ever for a solo artist
- More Madonna news
Madonna
Madonna - Making Of The Video 'Give It To Me'Listen to full tracks now. Users outside the UK can hear 30-second clips of each song.
Comments (0)
Add a comment
Add your comment
Please sign in to add your comments or register to have your say.