Is Madonna on the hunt for a new record label to house her forthcoming material?
Find out why this may be the case below!
In 2007 the ‘Bedtime Story’ teller entered into a agreement with the entertainment company Live Nation which tied her to them for a decade.
The $120 million deal saw her nab a $17. 5 million advance and score between $50 to $60 million to record and release up to three albums.
That isn’t all.
For, $50 million in cash and stock was put aside to give them the right to license the icon’s name and promote her extravagant concerts. How much of her touring pie does the ‘Bad Girl’ dish up for herself when the curtains close? 90%.
Alas, all good things must come to an end.
For, 2017 will see this deal draw its last breath. The problem? Nation is unlikely to renew it.
The curtain goes up on Madonna’s “Rebel Heart” tour on Wednesday, and those who have seen rehearsals at the Nassau Coliseum call it brilliant. That should come as no surprise considering what the Material Girl has riding on the 64-show global arena trek.
Her 10-year partnership with concert-promoter Live Nation expires in 2017, just nine months after she wraps up her third and final tour under the deal. And no one expects the soup-to-nuts 360 deal that guaranteed Madonna an unprecedented $120 million in 2007 to be renewed in its current incarnation.
If true, Ms. ‘Material’ will be tasked with finding a new machine to churn out her content once the deal is done.