Word: warners
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...time when lagging CD sales and music piracy have made the album a mere accessory to touring, merchandising and licensing, it's no wonder that ailing record labels like Warner Music Group have been exploring ways to get a piece of that much more lucrative side of the business. So just imagine how they must feel now that Live Nation, the world's largest concert promoter, is close to stealing away pop music icon Madonna for a cool $120 million in cash and stock...
...Despite all the speculation, the deal is not even finalized. "I wouldn't totally count out Warner Music in terms of keeping her," says Phillips...
...rights to sell three studio albums, promote Madonna's concerts and sell licensing name rights and merchandise, meaning a company that has never represented an artist before would suddenly be overall talent agent to one of the world's biggest music acts. If it is consummated - and both Warner Music and Live Nation refused requests to comment on the deal - it would be just the latest example of the increasingly prevalent so-called 360-degree deals that have concert promoters, record labels, ticketing agencies and management firms all invading each other's turf...
...gives it a direct link to the music fans attending its shows. Not to be outdone, Ticketmaster significantly increased its stake in Front Line Management, an agency that represents such acts as Christina Aguilera, Jimmy Buffett and Aerosmith, when rumors swirled that Live Nation wouldn't renew its contract. Warner, for its part, has been looking around for partners, potentially hooking up with none other than IAC/ InterActive Corp, Ticketmaster's parent, as a way to counter Live Nation's proposal to manage all of Madonna's concerts and album releases. And earlier this summer Warner Music formed a joint...
...wouldn't bundle all these rights into one cross-collateralized company," argues Randy Phillips, who manages Lionel Richie and is President and CEO of AEG Live, the second largest concert promoter after Live Nation. Phillips says Warner Music contacted him a few months ago to be a potential partner when they were worried about Madonna being stolen away, though the two didn't ultimately make a deal. "I think an artist can fare better with direct relationships. It takes different skill sets to maximize revenue in the different areas and the artist cheats herself by trying...