Clear Channel Media and Entertainment and Entertainment One (eOne) have announced an agreement to share revenue from digital and terrestrial radio. eOne Music produces, distributes, licenses and promotes music across a range of genres including Rock, Rap, Classical and Country. The labelís diverse music library boasts more than 45,000 tracks from artists including DJ Drama, Faith Evans, Pop Evil, Jake Miller, Black Label Society, Joe Budden and many others. Since its inception, eOne Music has charted more than 100 albums on Billboardís Independent Chart, more than any other American independent label.
"eOne and Clear Channel both passionately believe that ensuring a thriving and diverse music industry requires creative thinking, and the willingness to knock down barriers," said Michael Koch, CEO of eOne Music. "This agreement is great for us and for Clear Channel, but ultimately the fans and artists benefit most."
"Innovative partnerships like this support a robust and sustainable model for our industry, where artists, fans, labels, distributors, radio and fans all prosper," said Bob Pittman, CEO of Clear Channel. "In eOne, we have found a partner with an extraordinary range of successful music who understands this and the immense value terrestrial and digital radio provide to artists, labels, and the industry at large."
Clear Channelís agreement with eOne follows several recent, similar agreements, including Big Machine Label Group, Glassnote Entertainment Group, DashGo, rpm Entertainment, Robbins Entertainment and Naxos.