Clear Channel & Wind-up Records Announce Revenue Agreement
Clear Channel Media and Entertainment and Wind-up Records have announced an agreement in which the companies will share both digital and broadcast radio revenue streams. Founded in 1997, Wind-up Records has successfully launched a number of multi-platinum rock artists, including Evanescence, Creed, Finger Eleven, and Seether, and has further built the careers of Five for Fighting, O.A.R. and The Darkness, among others. Earlier this year, Wind-up signed Filter, whose sixth album, The Sun Comes Out Tonight, is scheduled for release June 4. Wind-up has also scouted and developed artists such as Civil Twilight, Young Guns, The Virginmarys, Aranda and Jillette Johnson.
“Wind-up has an impressive roster of established and up-and-coming artists, due in large measure to its collaborative, supportive artist development process, and we’re excited to partner with them,” said Bob Pittman, CEO of Clear Channel. “This agreement demonstrates that market-based solutions can enhance the future growth of digital radio and benefit artists, labels, and listeners as well.”
“Wind-up at its essence is an artist development company,” said Wind-up’s CEO Edward Vetri. “This partnership with Clear Channel will provide us a new and innovative platform to make our artists’ music more accessible to their fans. We believe growing digital radio is critical to artist development and are excited to be aligned with Clear Channel in its digital radio strategy.”
Clear Channel’s agreement with Wind-up follows several recent, similar agreements, including Big Machine Label Group, Glassnote Entertainment Group, Dualtone, DashGo, rpm Entertainment, Robbins Entertainment and Naxos.
Source: FMOB
