Madonna Close To Signing Record Deal with Live Nation

Madonna Close To Signing Record Deal with Live Nation
In a month that has found big name artists such as Radiohead, Oasis, Nine Inch Nails and Jamiroquai shaking up the foundations and looking to move beyond the traditional "record label machine" way of releasing music, Madonna is reportedly on the verge of adding her own unique spin to the mix.

According to The Wall Street Journal, the 49-year-old icon will demonstrate her blonde ambition and sign a multi-faceted deal with mega conglomerate concert promoter Live Nation to release three albums, promote her concert tours, sell her merchandise and also licence her name.

Though she still has one album left in her contract with Warner Music, Madonna would earn an estimated $120 million from the Live Nation deal: "The package includes a general advance of $17.5 million and advance payments for three albums of $50 million to $60 million, according to people briefed on the deal."

The deal seems strictly in Madonna's favour, considering the downward spiral the music industry is taking. Though it's like no other, Live Nation would need to sell approximately 15 million copies of each of the three albums in order to see a return - and despite her everlasting influence as an entertainer, Madonna hardly has the ability to sell records the way she once did. Her most recent album, 2005's Confessions on a Dance Floor, has sold 11 million copies to date.

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