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| Madonna signs radical record deal | Madonna signs radical record deal |
| (10 minutes later) | |
| Madonna has signed a ground-breaking recording and touring contract with concert promoter Live Nation. | Madonna has signed a ground-breaking recording and touring contract with concert promoter Live Nation. |
| She is the first major star to choose an all-in-one agreement with a tour company over a traditional record deal. | She is the first major star to choose an all-in-one agreement with a tour company over a traditional record deal. |
| It gives Live Nation rights to all her music-related projects - including new albums, tours, merchandise, websites, DVDs, sponsorship, TV shows and films. | It gives Live Nation rights to all her music-related projects - including new albums, tours, merchandise, websites, DVDs, sponsorship, TV shows and films. |
| The deal, reported to be worth $120m (£59m) over 10 years, ends her 25-year relationship with Warner Music. | The deal, reported to be worth $120m (£59m) over 10 years, ends her 25-year relationship with Warner Music. |
| The pop star, 49, has been with Warner for her entire career, during which time she has sold 200 million records and CDs. | |
| For the first time in my career, the way that my music can reach my fans is unlimited... with this new partnership, the possibilities are endless Madonna | For the first time in my career, the way that my music can reach my fans is unlimited... with this new partnership, the possibilities are endless Madonna |
| Madonna, the first performer in Live Nation's new Artist Nation division, said the deal offered her the chance to take advantage of new models of music distribution. | Madonna, the first performer in Live Nation's new Artist Nation division, said the deal offered her the chance to take advantage of new models of music distribution. |
| "The paradigm in the music business has shifted and as an artist and a businesswoman, I have to move with that shift," the singer said. | "The paradigm in the music business has shifted and as an artist and a businesswoman, I have to move with that shift," the singer said. |
| "For the first time in my career, the way that my music can reach my fans is unlimited. I've never wanted to think in a limited way and with this new partnership, the possibilities are endless." | "For the first time in my career, the way that my music can reach my fans is unlimited. I've never wanted to think in a limited way and with this new partnership, the possibilities are endless." |
| NEW TYPES OF RECORD DEAL Radiohead - Released their new album as a download from their website and told fans to choose how much to payPrince - Gave his latest CD away with the UK's Mail on Sunday newspaper and at gigsSir Paul McCartney - Signed a deal with record label owned by Starbucks, which sold his new album in its coffee shops | NEW TYPES OF RECORD DEAL Radiohead - Released their new album as a download from their website and told fans to choose how much to payPrince - Gave his latest CD away with the UK's Mail on Sunday newspaper and at gigsSir Paul McCartney - Signed a deal with record label owned by Starbucks, which sold his new album in its coffee shops |
| Live Nation chief executive Michael Rapino said they had created a "new business model for our industry". | Live Nation chief executive Michael Rapino said they had created a "new business model for our industry". |
| "Madonna is a true icon and maverick as an artist and in business," he said. "Our partnership is a defining moment in music history." | "Madonna is a true icon and maverick as an artist and in business," he said. "Our partnership is a defining moment in music history." |
| Madonna has become a shareholder in the company, the statement said, but further financial details were not provided. | Madonna has become a shareholder in the company, the statement said, but further financial details were not provided. |
| She must still make one more album for Warner, due next year. | She must still make one more album for Warner, due next year. |
| Warner will also retain the rights to sell and license her back catalogue of hits such as Like a Virgin, Vogue and Music. | Warner will also retain the rights to sell and license her back catalogue of hits such as Like a Virgin, Vogue and Music. |
| Traditionally, companies like Warner Music Group have focused on recorded music, while other firms have arranged tours, managed artists and sold merchandise. | |
| It shows the music industry is being less record-centric Jean-Bernard LevyChief executive, Vivendi But shrinking CD sales have led artists and entertainment companies to consider wide-ranging deals that bring all activities under one roof, helping cross-promotion and boosting profit margins. | |
| Jean-Bernard Levy, chief executive of Universal Music Group's parent company Vivendi, said the music industry was at a turning point. | Jean-Bernard Levy, chief executive of Universal Music Group's parent company Vivendi, said the music industry was at a turning point. |
| "It shows indeed the music industry is being less record-centric," he told the Reuters news agency. | "It shows indeed the music industry is being less record-centric," he told the Reuters news agency. |
| "It used to be just focused on the record and everybody thought all the rest was just promotions in order to sell records. | "It used to be just focused on the record and everybody thought all the rest was just promotions in order to sell records. |
| "Now it's a more balanced business where you have records, TV shows, merchandise, touring revenues and so on." | "Now it's a more balanced business where you have records, TV shows, merchandise, touring revenues and so on." |
| Madonna is the latest big name to eschew a major label deal and find a different way to distribute music. | |
| Last week, Radiohead made their new album available to download from their website and asked fans to choose how much to pay for it. | |
| Prince recently gave away his latest CD with a newspaper, while Sir Paul McCartney signed up with the Starbucks cafe chain. |