Clear Channel in Deal With WMG
In yet another revenue sharing arrangement with a label, Clear Channel has inked its latest with one of the biggies, WMG. Clear Channel CEO Bob Pittman said, "WMG is showing the way for what a true 21st century music company can be -- a music company built for the digital age. They're now poised to use this unique relationship to benefit both their new and legendary artists. We couldn't be more thrilled to be their partner in building these exciting new markets and promoting their artists in innovative new ways. This is a win for all parties: for artists, who will enjoy heightened and guaranteed exposure; for their fans, who will find them in more places than ever before; for consumers, who will have the enhanced ability to find and listen to music wherever and whenever they want; and for WMG, Clear Channel, and all of us participating in the new digital marketplace."
On Thursday, Pittman took his "reinventing radio" pitch to CNBC where he spoke about the new relationship with WMG. Watch his interview HERE.
The Clear Channel release states that WMG will share in revenue from all platforms and gain unprecedented opportunities to promote the music of its emerging and established artists across all of Clear Channel's unmatched multi-platform assets, including:
· Clear Channel's 850 radio stations nationwide; 243 million monthly broadcast radio users; more than 20,000 nationwide events; 60 million monthly uniques across its digital properties; its iHeartRadio theaters; and the 143-million-person-monthly reach of its outdoor assets;
· Programs to dedicate commercial time specifically to launch new music by providing new song exposure through both an enhanced and a first-ever guaranteed and prioritized version of Clear Channel's Artist Integration Program (AIP), which will deliver carefully timed and continuing promotion;
· Major nationally televised events, including the Jingle Ball annual holiday concerts, the iHeartRadio Music Festival, iHeartRadio Ultimate Pool Party events, iHeartRadio Album Release Parties, and more;
· Special programs using Clear Channel's digital footprint, including its digital simulcast, digital-only stations, and custom stations, as well as special audio and video content, programming, and promotions; and
· New targeted user interfaces in digital that make it easier for consumers to buy music when they hear it, building on radio's role as the #1 way people discover music, and driving the conversion of interest in new music directly to sales.
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