Techcrunch has a report that 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.
Hmmm. Do you think that the $120m may have swayed her more than the politics of the music industry? As for Live Nation, it seems an obvious steps to hire the performers directly to go on tours for them, with the albums simply being the promotion device. I suspect it won’t be the last deal of this sort, albeit the sums involved may differ.
Total revenue (called “360 degree) deals aren’t unusual – remember Robbie Williams did this a few years back. Likewise, Elton John has been doing a live nightly show in Las Vegas for years.