Nickelback is the latest heavyweight group to sign a multi-year, multi-album 360 deal with Live Nation.
Their roster now boasts some of the biggest earning musicians on the planet, including: Madonna, U2, Jay-Z, and Shakira.
360s are the new major label deals. Only problem is, the model is still unproven. Only time and touring will tell if this is a viable and successful new model for artist management.
Less than a week after its deal with Shakira was confirmed, the entertainment marketing company Live Nation has signed the Canadian rock band Nickelback to another long-term worldwide contract for recordings, touring, merchandise and other rights, the company announced.
Nickelback, whose hits include “How You Remind Me” and “Photograph,” has sold more than 26 million albums around the world, and its most recent CD, “All the Right Reasons” (Roadrunner), has been on the Billboard 200 album chart longer than any other current release.
Financial terms were not released, but the contract is to cover three touring and album cycles, with an option for a fourth, according to the announcement.
By signing Nickelback, Live Nation, whose main business is concert promotion, took another step toward expanding its role at the center of the music industry, the traditional province of record labels. The company signaled on Tuesday that it may have more big deals to come.
Nickelback is the fourth act to sign a so-called multiple rights or “360” deal, and the company said it has planned to sign up four to six acts within a year. Besides Shakira, deals have been made with Madonna and Jay-Z, and a less extensive deal with U2, already announced, is expected to be completed soon.