Irving Azoff Weighs In On Clear Channel-Big Machine Deal
June 6, 2012
Irving Azoff, Executive Chairman of Live Nation Entertainment and Chairman/CEO of Front Line Management, has weighed in on yesterday's revenue-sharing announcement from Clear Channel and Big Machine. Azoff, who is also on Clear Channel's Board of Directors, told Bloomberg, "Weíre trying to convince labels to enter into a direct deal because we canít get legislation passed. Clear Channel is first of these deals." Azoff believes the agreement could be a template for similar deals in the future.
As part of the agreement, Azoff says that Clear Channel negotiated "more realistic" digital royalty rates with Big Machine. He added, "Unrealistic rates on the digital side were choking the ability to expand digitally for radio companies," noting that the current rates were also "holding back consumers. We learned from Napster, thatís a bad thing."
Through Front Line, Azoff manages The Eagles, Christina Aguilera, Van Halen, Neil Diamond and many others.