Joshua Chaffin in the Financial Times' New York bureau digs into the new "360 Deals" that both major event promotion businesses and "record" (whatever those are) labels are trying to entice the biggest names to sign. (click to read it)Through such agreements - also known as multiple rights deals - record companies are trying to move beyond traditional record sales to handle their artists' concert tours, corporate sponsorships, merchandise sales, websites, fan clubs and just about any other source of ancillary revenues imaginable. "We ultimately will become the fifth member of each band," is how Monte Lipman, president of Universal Republic Records, describes his label's ambition.
His article provides a good insight into where the music business may be steering (if they can get superstar artists to go along). The question is whether such arrangements represent a viable new model for an industry in crisis or merely another record company ploy to capture a bigger share of artists' earnings. Some certainly suspect the latter.
Count me among them.
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