Glassnote And Clear Channel Sign Revenue Deal
September 27, 2012 at 8:31 AM (PT)
CLEAR CHANNEL MEDIA AND ENTERTAINMENT and GLASSNOTE ENTERTAINMENT GROUP have reached an agreement that will "align the companies' business interests, accelerate growth and innovation in digital radio and enable GLASSNOTE and its artists to share in all CLEAR CHANNEL radio revenue streams." This market-based partnership, the second of CLEAR CHANNEL's agreements with music companies, will "help establish a business model that supports the development of a vibrant and sustainable digital music industry to the benefit of all constituencies -- artists, music companies, radio and consumers."
GLASSNOTE will directly participate in both CLEAR CHANNEL's terrestrial broadcast radio and digital revenues to the benefit of its artists. Artists on GLASSNOTE who will benefit from this agreement include MUMFORD & SONS, PHOENIX, TWO DOOR CINEMA CLUB, GIVERS, CHILDISH GAMBINO, OBERHOFER, THE TEMPER TRAP, DAUGHTER, ROBERT DELONG, LITTLE GREEN CARS and FLIGHT FACILITIES.
CLEAR CHANNEL announced its first such agreement, with BIG MACHINE LABEL GROUP, in JUNE 2012.
"We built GLASSNOTE to be a next-generation music company that embraces change, including evolving technologies," said GLASSNOTE Founder/CEO DANIEL GLASS. "One of our passions is aggressively finding new and innovative ways to make our artists' music and information more available than ever to their fans. It is no secret of our respect and love for radio. This partnership aligns our business interests more closely with CLEAR CHANNEL, and we're excited about being part of the drive to grow digital radio faster and bring all of its benefits to music fans."
CLEAR CHANNEL CEO BOB PITTMAN said, "DANIEL GLASS is a savvy music business veteran who's been leading his spirited independent record label to success after success. So it’s no surprise to us that GLASSNOTE quickly saw this was a great opportunity to help move the digital radio industry towards a more sustainable future. Not only will this agreement expand his label and artists' participation in all of CLEAR CHANNEL's radio revenues; it also creates a vibrant new digital radio business model that we believe will provide more money for the artists and the labels and more digital choices for the consumer."