Madonna to pocket £60m in new deal
17/10/2007
Madonna has confirmed her ground-breaking deal with concert promoter Live Nation, which will see the star earn £60m over ten years.
The deal, which is the first all-in-one collaboration between a major artist and a tour promoter, will give the company rights over all aspects of Madonna's career: records, tours, merchandise, DVDs, sponsorship and films.
The agreement is widely seen as a shift in the traditional music business model away from recorded music to the increasingly-lucrative live music market and ends the 49-year-old singer's 25-year relationship with Warner Music.
"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. Who knows how my albums will be distributed in the future?" said Madonna.
"That's what's exciting about this deal - everything is possible. Live Nation has offered me a true partnership and, after 25 years in the business, I feel that I deserve that."
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