Clear Channel Announces Radio Royalty Deal With Glassnote
September 27, 2012
Clear Channel Media and Entertainment and Glassnote Entertainment Group have announced "an agreement that will align the companiesí business interests, accelerate growth and innovation in digital radio and enable Glassnote and its artists to share in all Clear Channel radio revenue streams."
This partnership is the second of Clear Channelís agreements with music companies after a deal with Big Machine was announced in June. It "will help establish a business model that supports the development of a vibrant and sustainable digital music industry to the benefit of all constituencies Ėartists, music companies, radio and consumers. Glassnote will directly participate in both Clear Channelís terrestrial broadcast radio and digital revenues to the benefit of its artists."
Glassnote's roster includes Mumford & Sons, Phoenix, Two Door Cinema Club, GIVERS, Childish Gambino, Oberhofer, The Temper Trap, Daughter, Robert DeLong, Little Green Cars and Flight Facilities.
"We built Glassnote to be a next-generation music company that embraces change, including evolving technologies," said Glassnote Founder/CEO Daniel Glass. "One of our passions is aggressively finding new and innovative ways to make our artistsí music and information more available than ever to their fans. It is no secret of our respect and love for radio. This partnership aligns our business interests more closely with Clear Channel, and weíre excited about being part of the drive to grow digital radio faster and bring all of its benefits to music fans."
Clear Channel CEO Bob Pittman said, "Daniel Glass is a savvy music business veteran whoís been leading his spirited independent record label to success after success. So itís no surprise to us that Glassnote quickly saw this was a great opportunity to help move the digital radio industry towards a more sustainable future. Not only will this agreement expand his label and artistsí participation in all of Clear Channelís radio revenues; it also creates a vibrant new digital radio business model that we believe will provide more money for the artists and the labels and more digital choices for the consumer."
Last week, Entercom Communications announced its own revenue sharing agreement with Big Machine.