Live Nation president/CEO Michael Rapino confirmed today (Oct. 16) that Madonna has entered into an unprecedented global partnership with the company and will become the founding artist in Live Nation’s new Artist Nation division, according to Billboard.
Rapino, Artist Nation Chairman and CEO Michael Cohl and Live Nation Chairman of Global Music Arthur Fogel will hold a press conference this afternoon to discuss the deal.
“The paradigm in the music business has shifted and as an artist and a business woman, I have to move with that shift,” says Madonna in a statement. “For the first time in my career, the way that my music can reach my fans is unlimited. I’ve never wanted to think in a limited way and with this new partnership, the possibilities are endless. Who knows how my albums will be distributed in the future? That’s what’s exciting about this deal — everything is possible. Live Nation has offered me a true partnership and after 25 years in the business, I feel that I deserve that.”
The deal encompasses all of Madonna’s future music and music-related businesses, including the exploitation of the Madonna brand, new studio albums, touring, merchandising, fan clubs/Web sites, DVDs, music-related television and film projects and associated sponsorship agreements.