Clear Channel has signed a deal directly with music group Fleetwood Mac that allows the band to receive revenue from airplay on the broadcaster’s on-air and digital platforms.
The broadcaster says this is the first such deal of its kind.
Indeed, Clear Channel has now signed revenue-sharing arrangements with 10 music labels, but not with artists directly, as in this case.
Clear Channel CEO Bob Pittman says “Reaching an agreement with them is the clearest sign yet that this kind of revenue-sharing model represents the industry’s future.” The company looks forward to helping Fleetwood Mac get their songs on whatever platform or device their fans want to use, he says.
While the specifics weren’t released, in all of these deals, Pittman has said the broadcaster is trying to create a sustainable business model for streaming. Presumably what the broadcaster gets out of the arrangements are favorable streaming royalty rates.
