Clear Channel Media and Entertainment and independent music distributor Entertainment One have signed an agreement to share revenue from digital and terrestrial radio.
In exchange, the broadcaster receives favorable streaming music royalty rates.
The deal is the seventh such contract for Clear Channel, following similar arrangements with Big Machine Label Group, Glassnote Entertainment Group, DashGo, rpm Entertainment, Robbins Entertainment and Naxos.
Clear Channel CEO Bob Pittman characterizes the deal as “innovative” and says such partnerships “support a robust and sustainable model for our industry, where artists, fans, labels, distributors, radio and fans all prosper.”
Entertainment One or “eOne,” produces, distributes, licenses and promotes music across a range of genres including rock, rap, classical and country.