Clear Channel & Big Machine Records Enter Rev-Share Agreement

CC Chairman/CEO John Hogan says “Today, 98% of our listening is terrestrial broadcasting and 2% digital, with record labels and artists only paid for the 2%.” He says “this new agreement expands label and artist participation from just digital to terrestrial, in one comprehensive framework that will give all of us a great incentive to drive the growth of the digital radio industry.” Nashville-based Big Machine has artists such as Taylor Swift, Tim McGraw and Rascal Flatts. Currently in the U.S., radio stations don’t pay a performance royalty to performing artists, although the industry does pay copyright holders through ASCAP, BMI and SESAC. This morning’s TRI Newsletter suggested that a breakthrough deal was immiment between America’s largest radio group and a record label – with an important House hearing on “The Future of Audio” scheduled tomorrow. About the Big Machine deal, Clear Channel CEO Bob Pittman says “This is a big step, but we think this investment is an opportunity worth taking.”

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