Clear Channel Media & Entertainment has signed another deal with an independent record label to share broadcast and digital revenue.
The agreement comes as a Member of Congress says he plans to introduce legislation to require radio to pay performance royalties.
The deal with Innovative Leisure follows the company’s direct revenue-sharing agreement with Fleetwood Mac. Clear Channel has signed similar market-based deals with record labels: Big Machine Label Group, Glassnote Entertainment Group, eOne, Dualtone, DashGo, rpm Entertainment, Robbins Entertainment, Naxos, Wind-up Records, Fearless Records, and Zojak World Wide.
Innovative Leisure artists will receive a revenue share for airplay on Clear Channel's broadcast stations as well as on its iHeartRadio digital radio platform. Clear Channel says the new deal along with its previous agreements, is helping to develop a sustainable Internet radio business model for all stakeholders.
The broadcaster’s reach will help bring the music of Innovative Leisure’s artists to millions of potential new fans, according to label co-founder Nate Nelson. Clear Channel CEO Bob Pittman says Innovative Leisure “has shown they can think outside the box to move both their company and the industry forward.”