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September 8, 2008 9:08:08 AM CDT

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Milestone Deal for Madonna

Posted Oct 10, 07 7:10 PM CDT in US,  Arts & Living,  Business 

(Newser) – Madonna is set to leave traditional record labels behind for an all-encompassing deal with concert promoter Live Nation, the Wall Street Journal reports. The Material Girl will bank $120 million; Live Nation gets three studio albums, the right to promote her concert tours, and various merchandising opportunities during a 10-year deal that seems certain to shake the music industry.

Madonna, 49, is jumping from Warner Bros. Records, though the label still has her on the hook for one more album. With the music industry in upheaval, and artists like Radiohead rejecting them entirely, record companies have been seeking deals of just this kind. That a concert promoter should land an act of Madonna's stature is unprecedented—but by no means without risk.

Source Wall Street Journal

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U.S. singer Madonna performs on stage during the British leg of the Live Earth concerts at London's Wembley Stadium, Saturday July 7, 2007. This concert is part of a series of events, also taking place...   (Associated Press)
Madonna performs at the Live Earth concert at London's Wimbley Stadium, July 7, 2007. She joins heartland rocker John Mellencamp, the puckish rappers Beastie Boys and premier dance acts Donna Summer...   (Associated Press)
U.S. singer Madonna performs on stage during the British leg of the Live Earth concerts at London's Wembley Stadium, Saturday July 7, 2007. This concert is part of a series of events, also taking place...   (Associated Press)
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Madonna  • Warner Brothers  • music label  • Live Nation


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