Clear Channel Media and Entertainment and independent label Wind-up Records signed a deal in which the companies will share both digital and broadcast radio revenue streams.
The market-based agreement with Wind-up follows recent, similar agreements with Big Machine Label Group, Glassnote Entertainment Group, Dualtone, DashGo, rpm Entertainment, Robbins Entertainment and Naxos.
Wind-up Records was founded in 1997. Clear Channel CEO Bob Pittman described the label as having an impressive roster of established and up-and-coming artists, “due in large measure to its collaborative, supportive artist development process.”
The agreement, he said, “demonstrates that market-based solutions can enhance the future growth of digital radio and benefit artists, labels and listeners as well.”
Wind-up CEO Edward Vetri said the Clear Channel deal will provide Wind-up with a new platform to make its artists music more accessible. Growing digital radio is critical to artist development, he said.
Clear Channel, Innovative Leisure Ink Revenue-Sharing Deal
This is the 11th such agreement between the broadcaster and a record label to share broadcast, digital revenue