Jay Z signs with Live Nation
April 5, 2008
The record industries might be losing money like a chronic gambler on a bad run in Vegas but the music industry ‘crisis’ hasn’t done Shawn Carter any harm. He’s just signed with Live Nation, concert promotion giant.
The overall package for Jay-Z also includes an upfront payment of $25 million, a general advance of $25 million that includes fees for his current tour, and advance payment of $10 million an album for a minimum of three albums during the deal’s 10-year term… A series of other payments adding up to about $20 million is included in exchange for certain publishing, licensing and other rights. Jay-Z said Live Nation’s consolidated approach was in sync with the emerging potential “to reach the consumer in so many different ways right now.” He added: “Everyone’s trying to figure it out. I want to be on the front lines in that fight.”
from New York TImes
Madonna’s already in with these cashed up promoter types and it definitely shows where the money is in the digital age - with the ’spectacle’.
Live performance is a unique experience and people are willing to throw large amounts of cash in the direction of concert promoters to get access to that experience. Concert promoters have what record labels don’t - the power to exclude.
What do you with CD’s?
April 2, 2008
my studies summed up by a blog
April 1, 2008
i lol-ed for about ten minutes after reading this post.