Madonna's groundbreaking deal with Live Nation is official. Rolling Stone confirmed that the singer and the live music company have agreed to a ten-year deal. Though monetary figures are not being revealed, it is rumored that Madonna will get $120 million to put out three new albums.
Madonna released a statement saying:
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.
Live Nation will handle all of Madonna's needs, including albums, touring, merchandising and licensing.
It's good to see artists like Radiohead, Nine Inch Nails and Madonna explore new ways to get their music to the public. I wouldn't be surprised to see a lot of other established artists travel down this same path (or another unique path). However, it remains to be seen if up-and-coming artists will be able to survive without the help of a record label. Madonna could do pretty much anything and she'll sell albums. But what about a band just starting out?
