MyLoveAffair Comments on Big Machine + Clear Channel Online Radio Deal
Tue, 12 Jun 2012 13:31:13
Taylor Swift's record label Big Machine cut a groundbreaking deal with radio giant Clear Channel that pays the singer and other artists more money now and paves the way for the growth of online radio.
The deal announced a week ago gives Swift and other artists in the Big Machine Label Group, including Tim McGraw and Reba McEntire, payment for songs played on Clear Channel's traditional radio stations for the first time, starting immediately. In exchange, the artists agreed to cap their royalties from play on Clear Channel station websites and simulcasts on its iHeart Radio streaming service to a portion of a fixed percentage of revenue.
Renaud Skalli, Head of Artist & Label Relations for MyLoveAffair, the international agency dedicated to pairing artists and brands, commented on the deal, saying, "This deal is a huge investment in the future of digital radio. With the growth of online listening in mobile devices outdoing stations' ability to sell ads online, Clear Channel is smart in aligning their brand and revenue stream with record labels, propelling digital listening to its full potential. This deal is a huge win for the record industry and another proof that music and advertising platforms are two worlds meant to work together in order to create added revenue streams."