- Music
- 17 Oct 07
Madonna has become the latest big-name artist to shake up the music industry, after signing a unique new contract with concert promotions company Live Nation.
The deal will see Live Nation get a stake in Madonna's albums, films, tours and merchandising. It's rumoured to be worth €84 million over ten years.
"The paradigm in the music business has shifted and as an artist and a businesswoman, I have to move with that shift," said the singer in statement issued jointly with Live Nation. "For the first time in my career, the way that my music can reach my fans is unlimited. I've never wanted to think in a limited way and with this new partnership, the possibilities are endless," she added.
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The 'Queen Of Pop' will record one more studio album and a greatest hits compliation for Warner Music, before ending her 25-year relationship with the label.