Entertainment One Music, or eOne, is the latest member of the recording industry to come to terms with Clear Channel Media and Entertainment. As in other similar deals starting with the one with Big Machine, the duo have agreed to share digital and terrestrial income streams.
eOne is said to be the fastest-growing independent music company in the US, with a wide ranging catalog featuring rock, rap, classical and country filling a library that includes some 45K separate tracks. It’s list of artists includes DJ Drama, Faith Evans, Pop Evil, Jake Miller, Black Label Society and Joe Budden, among others.
“eOne and Clear Channel both passionately believe that ensuring a thriving and diverse music industry requires creative thinking, and the willingness to knock down barriers,” said Michael Koch, CEO of eOne Music. “This agreement is great for us and for Clear Channel, but ultimately the fans and artists benefit most.”
“Innovative partnerships like this support a robust and sustainable model for our industry, where artists, fans, labels, distributors, radio and fans all prosper,” said Bob Pittman, CEO of Clear Channel. “In eOne, we have found a partner with an extraordinary range of successful music who understands this and the immense value terrestrial and digital radio provide to artists, labels, and the industry at large.”
Other labels in the CCME agreement stable include:
* Big Machine Label Group
* Glassnote Entertainment Group
* rpm Entertainment
* Robbins Entertainment
RBR-TVBR observation: Keep these deals coming. They are prime grade A1 insurance against Congress enacting a performance royalty for airplay. If two businesses can see eye to eye on this issue without congressional intervention, it is a good bet that there will be plenty of members of Congress who will be happy to simply stay out of it.
We’d like to see more radio groups get involved. And we’re also waiting for a deal that involves on of the major recording companies top to bottom. Stay tuned.