According to reports, Madonna has signed a $120million deal with L.A. based concert promotion firm Live Nation to distribute three studio albums, promote concert tours, sell merchandise and license Madonna’s name.
Whilst the deal differs from Nine Inch Nails in that Madonna is not offering direct-to-public albums, Live Nation isn’t a record company. The deal shows that even for a world famous act, a record company is no longer required in the days of digital downloads and P2P music sharing.
The only real question now is how fast will the music industry model come tumbling down. When Radiohead led the way in offering their music directly to fans many predicted that the move was the beginning of the end; Madonna may well be the tipping point from where we will now see a flood of recording artists dumping record labels and where todays model will shortly become a footnote in Wikipedia.
Great news for the consumer, I wonder what it’ll mean for the RIAA when they have no record industry to ‘protect’. I think this is all very interesting and great to see people listening to what consumers want. with iTunes and Amazon selling DRM music I’m sure music will become more popular as a result and there will be money to be made for sure, but in a fair and just way for all, the consumer and the artist.
Jamie Thomas isn’t the reason why CD sales have slumped, let’s be real about this.
The rest of the story is here