Warner Music Group and Clear Channel Form Strategic Partnership
Warner Music Group has formed an alliance with Clear Channel Media to help drive digital growth, increase listenership, break new music, and create new marketing opportunities for their roster. Through the partnership, Warner will share in revenue from all platforms and be able to promote its artists across all of Clear Channel’s 850 stations nationwide and its 243 million monthly broadcast users, as well as its iHeartRadio theaters and outdoor assets. The agreement is the first of its kind between a major music company and Clear Channel.
Through the alliance, Warner will also receive dedicated air time to introduce new songs under Clear Channel’s Artist Integration Program, as well as exposure at major nationally televised events like the iHeartRadio Music Festival and other iHeart events, on special programs using Clear Channel’s digital outlets, and through new targeted user interfaces in digital that facilitate consumers ability to purchase music as they hear it.
“WMG is showing the way for what a true 21st century music company can be a music company built for the digital age. They’re now poised to use this unique relationship to benefit both their new and legendary artists,” said Bob Pittman, Chairman and CEO of Clear Channel. “We couldn’t be more thrilled to be their partner in building these exciting new markets and promoting their artists in innovative new ways. The team at WMG understands that old formulas don’t work as well as they must in the digital age, and that we have to think differently to build a robust future for the music industry. Today, music companies and media and entertainment companies need to be more supportive of each other’s needs. This agreement begins that new era, and will help both companies thrive in the digital world.”
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