Madonna Leaves Her Record Label As Many Artists Jump Ship
The record industry may soon only be making their money from $222,000 court judgements at the rate musicians are leaving the record labels.
With the band Radiohead leading the charge with their latest album, In Rainbows, musicians seem ready to be done with the status quo of the record labels. The English act decided to bypass the record labels by selling their newest studio album direct to consumers, and it seems that other bands are liking the results.
Thus far, Oasis, Jamiroquai, and possibly 80’s hit band, Madness, are looking at it. In an announcement on the Nine Inch Nails web site, lead singer, Trent Reznor, announced that his popular band would be free of record labels.
The biggest news though was yet to come. Madonna looks set to leave Warner Music Group for… a concert promoter?
In a deal estimated to be worth $120 million dollars, the material girl will release her next three studio albums through Live Nation. The deal will also allow the promoter to merchandise her likeness, and she will retain 90% of concert revenues. Her 2006 tour, Confessions, brought in $194 million dollars, so 90% will be no small chunk of change.
The record industry, as we currently know it, may be a very different creature in the next few years if more acts keep leaving the labels.
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September 8th, 2009
I applaud the independent artists as well as established artists that take the power out of the hands of the labels who are greedy and selfish by nature and have no interests in the artists but only as a cash cow…. more power to the artist and I hope this trend catches on fast!