Glassnote, Clear Channel Partner for Revenue Sharing
Sep 27, 2012 5:22 PM, By Doug Irwin, CPBE DRB
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New York - Sep 27, 2012 - Clear Channel Media and Entertainment and Glassnote Entertainment Group, an independent music company, today announced that they have reached an agreement that will align the companies' business interests, accelerate growth and innovation in digital radio and enable Glassnote and its artists to share in all Clear Channel radio revenue streams.
This market-based partnership, the second of Clear Channel's agreements with music companies, will help establish a business model that supports the development of the digital music industry to the benefit of all constituencies - artists, music companies, radio and consumers. Glassnote will directly participate in both Clear Channel's terrestrial broadcast radio and digital revenues to the benefit of its artists. Artists on Glassnote who will benefit from this agreement include Mumford and Sons, Phoenix, Two Door Cinema Club, Givers, Childish Gambino, Oberhofer, The Temper Trap, Daughter, Robert DeLong, Little Green Cars and Flight Facilities. Clear Channel announced its first such agreement, with Big Machine Label Group, in June 2012.
The Internet Radio Fairness Act of 2012 would reduce the royalty burden on Internet radio stations and satellite radio to be more inline with what terrestrial radio stations pay....