360 Music Deals
November 8th, 2008 by Lior ShamirThe much-talked-about 360 music deals give labels the traditional percentage of CD and MP3 sales in addition to a cut of ticketing, merchandise, licensing, publishing, and sponsorship opportunities.
In the Web 2.0 Summit, Warner Music Group CEO, Edgar Bronfman, outlined that new artists will have to sign 360 contracts, and that about a third of their signed artists are under such contracts already.
Bronfman expressed that it’s is no longer feasible to pour money into artists when CD sales continue to diminish. Without a stake in the other aspects of an artist’s career, WMG will simply avoid going to market altogether.