Following in the footsteps of Madonna, U2 has inked a 12-year merchandising deal with Live Nation. We know what you're thinking: "Really, another 12 years of U2?" The Live Nation global contract covers the merchandising, digital and branding rights of the band along with its touring. But unlike Madonna's deal, Live Nation didn't snag U2's recording rights. The band will continue its recording and publishing relationship with Universal Music Group.
Live Nation doesn't plan to stop here. As major labels are looking for new and innovative ways to make money in a struggling industry, Live Nation wants to move beyond the touring-and-ticketing trade. Its focusing on signing other major artists, eschewing any untested acts. "Our intention is to work with artists who are already making it or on their way to making it," said Live Nation Chairman Michael Cohl.
U2 »
I wonder what the next mega band to sign on to something will be? Has Coldplay signed on to something like this yet?