The Wall Street Journal is reporting that pop diva Madonna is close to leaving her record company contract (after one more album due to Warner Music) for a $120 million deal with concert-promotion giant Live Nation Inc.
The 10-year contract with Live Nation, gives Madonna money & stock for the rights to sell 3 albums, promote concert tours, sell merchandise and license her name. This would be yet another major chunk of armor removed from the formerly formidable music industry. As I mentioned earlier this week, the middleman is quickly being removed from the equation. Other examples of major music artists going it alone without a record contract include Radiohead, Nine Inch Nails, Oasis, Jamiroquai and the Charlatans.
Read the full, original article at WSJ
Other Music-Related Stories:
Want to strip your iTunes songs of DRM so you can use that music on any device? READ THIS
How to Find Songs From Commercials, Movies and TV Shows
Visualize iTunes Top 100 with iTunes TreeMap
