Music News
Madonna's 'unlimited' music deal
Oct 17, 2007, 14:30 GMT
A file photograph dated 07 July 2007 of US singer Madonna performing at Wembley Park Stadium in London, Britain, as part of the Live Earth Concert. Madonna and concert promoter Live Nation Inc. announced a deal on 16 October that will give Live Nation a stake in her albums, tours, merchandising, films and other music-related projects. Financial terms were not disclosed in the joint statement released by Madonna and Live Nation. A person familiar with the agreement previously told the Associated Press it was worth about $120 million over 10 years. The official announcement came after weeks of speculation that the Material Girl would abandon Warner Music Group Corp., which refused to match the Live Nation deal. Madonna said in the statement that she was drawn to the all-encompassing deal with Live Nation because of the changes the music business has undergone in recent years. EPA/DANIEL DEME
Madonna has signed a ground-breaking deal to give her fans "unlimited" access to her music.
The 'Material Girl' singer agreed a recording and touring contract with concert promoter Live Nation, because she believed the deal - worth an estimated $120 million over 10 years - would offer "endless" possibilities.
Madonna said: "The paradigm in the music business has shifted and as an artist and a businesswoman, I have to move with that shift.
"For the first time in my career, the way that my music can reach my fans is unlimited. I've never wanted to think in a limited way and with this new partnership, the possibilities are endless."
Live Nation own the rights to all her music-related projects - including new albums, tours, merchandise, websites, DVDs, sponsorship, TV shows and films.
Live Nation chief executive Michael Rapino said: "Madonna is a true icon and maverick as an artist and in business. Our partnership is a defining moment in music history.
"We have created a new business model for our industry."
Madonna is contracted to make one more album with her long-term record label Warner Music Group Corporation.
The queen of pop was with Warner for 25 years, selling more than 200 million single and albums.
(C) BANG Media International
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