Clear Channel Inks Revenue-Sharing Deal With Fleetwood Mac
June 12, 2013 at 7:19 AM (PT)
CLEAR CHANNEL MEDIA + ENTERTAINMENT and FLEETWOOD MAC have reached a performing rights deal, the first directly between a radio company and an artist. The deal sets up a revenue sharing arrangement that gives the band, whose new EP "Extended Play" features the first new FLEETWOOD MAC music released in over a decade, a share of revenue for airplay on both broadcast and digital platforms.
“FLEETWOOD MAC has consistently pushed the envelope – creating new sounds, making music that seems designed for radio and looking at the industry in new ways,” said AZOFF MUSIC MANAGEMENT's IRVING AZOFF. “It’s fitting that a group that’s played such an integral role in radio and music history would be the first band to take such a major step -- helping the music industry create a sustainable digital marketplace so it can thrive for decades to come. We’re delighted to join CLEAR CHANNEL in creating a new model for the music industry, one that will be good for performing artists, good for music fans, and good for the people who have invested their talent, time and money.”
“FLEETWOOD MAC has blown me away from the first time I heard them – they are the perfect group for radio,” said CLEAR CHANNEL CEO BOB PITTMAN. “Reaching an agreement with them is the clearest sign yet that this kind of revenue-sharing model represents the industry’s future – it is a win-win-win, for artists, fans and the music business. We look forward to helping FLEETWOOD MAC get their hit songs to their fans on whatever platform or device they want to find them.”