Madge at 360
The New York Post is reporting that Madonna may be about to do one of those 360 deals which are set to be all the rage in the music business in the coming months. Now that her deal with Warner …
Now that her deal with Warner Music is coming to a close (and we reckon Edgar and the boys don’t want to give her any more dosh since they have the back-catalogue to pimp), Madge is believed to be looking at a $100 million deal from Live Nation.
For those at the back, Live Nation is the new-ish name for the live music division of radio moguls and everyone’s favourite music industry whipping boys Clear Channel. Live Nation are in bed with Babs favourite Irish music promoters MCD (via Gaiety Investments) on an entity called Hamsard 2786 Ltd which controls the UK-based Mean Fiddler group.
But enough already with Live Nation’s family tree. Back to Madge. Per the Post:
An agreement, if struck, would create an entity that would manage all Madonna-related businesses, including albums, touring, merchandise and sponsorships over a multi-year period. Live Nation would acquire an equity stake in the pop diva’s overall business. The joint venture company would then look to enter into an agreement with a label to handle distribution and marketing support of any Madonna album releases.
Robbie Williams and Korn are amongst the acts who’ve negotiated similar deals in recent times.
Madge’s last album “Confessions” sold over 1.6 million copies in the United States alone, while her 60-date tour took in over $193 million in revenue. Obviously, most people are now too polite to mention the slow sales for her Slane show.