After Nine Inch Nails had dumped its record label and was to offer future albums direct to the public, Oasis and Jamiroquai have joined the new wave. But the icing on the cake seem to be the move Madonna made. She is dumping warner Brothers. Radiohead went on sale last week without a label.
We salute you artists, I now might change my stance on not buying music. At least now I have one I like and I can buy (NIN) without enriching RIAA. I like to see where RIAA will be in 10 years. I think all the old artists know the deal. It is new artists that get hooked. Hope someone will come up with a new record label.
According to The Wall Street Journal, which revealed leaked details of the deal yesterday, her package will include an advance of $17.5 million, advance payment for three albums of between $50 million and $60 million, plus a $50 million payment in cash and shares for the concert promotion rights. When Madonna does tour, she will receive 90 per cent of the gross revenues.
Revenues from licensing ventures, such as product endorsements, will be evenly split. The deal is in sharp contrast to the move by Radiohead this week to release its new album, In Rainbows, via its own website, avoiding corporate partnership. The band allowed fans to choose how much they wanted to pay for the album.