Madonna will be releasing her first studio album in five years this January. Madonna just inked a new deal with Interscope Records that will see the singer release at least three new albums.
Madonna’s Interscope Records deal will work in conjunction with her current contract with Live Nation Entertainment. Madonna ended her 24-year relationship with the Warner Music Group to sign a $120 million 10-year deal with Live Nation Entertainment that covers touring, ticketing, merchandise, and digital assets.
Live Nation Entertainment CEO Irving Azoff:
“Live Nation, prior to the merger, entered into some of these all-rights deals, so there are certain artists, Madonna being one of them, [for which] there is a recorded music strategy. Once she gets the album recorded, we’ll sit down with her and her manager Guy Oseary and figure out what’s best for the record. It has to start with the music.”
Reuters reports that the deal could be worth between $20 million and $40 for Madonna and Live Nation Entertainment. RTT reports that Madonna will be getting a base pay of at least $1 million per album.
When Live Nation Entertainment signed Madonna in 2007 many industry experts said that the deal was a sign of change in the record industry. Major labels were being ditched as artists were signing “360 degree deals” with companies like Live Nation Entertainment. But according to Reuters, Live Nation’s concert and ticketing business has been hit by the economic downturn and is now turning to major record labels for distribution help.
Madonna will be releasing her new album in the last week of January, a week before her halftime performance at the Superbowl.
Are you excited for Madonna’s new album?