Clear Channel and Fleetwood Mac Sign Landmark Revenue-Sharing Agreement

by Hassahn Liggins - Posted Wednesday, June 12th, 2013. Category: URBAN

Fleetwood Mac 2009 300x177 Clear Channel and Fleetwood Mac Sign Landmark Revenue Sharing AgreementClear Channel Media and Entertainment and Fleetwood Mac today announced a landmark agreement ““ the first direct performing rights partnership between a radio company and an artist ““ that will enable the group to receive revenue from airplay on Clear Channel’s digital and broadcast radio platforms. The group’s new EP, Extended Play, features the first recording of new Fleetwood Mac music since the release of “Say You Will” over a decade ago.

“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 Irving Azoff of Azoff Music Management, a representative of the band. “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 Bob Pittman, CEO of Clear Channel. “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.”

One of the most popular bands in history and a member of the Rock and Roll Hall of Fame, the legendary Fleetwood Mac has sold over 100 million albums worldwide, including “Rumours,” one of the best-selling albums of all time, which spawned four top-ten singles, won the Grammy for Album of the Year in 1977 and remained No. 1 on the Billboard charts for 31 weeks. The band, which formed in London in 1967, has produced 17 studio albums over its long career.

The groundbreaking agreement with the iconic band follows similar agreements with a number of independent recording labels but it is the first to be negotiated directly with an artist or group, creating a milestone for Clear Channel and the industry. All of these agreements represent a significant step forward in building a sustainable business model for Internet radio. The independent labels who have similar agreements with Clear Channel include Big Machine Label Group, Glassnote Entertainment Group, eOne, DashGo, Robbins Entertainment, Naxos, rpm Entertainment, Wind-up Records, Fearless Records, Zojak Records and Dualtone Records.

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