Glassnote, Clear Channel Strike Royalty Deal

Glassnote, Clear Channel Strike Royalty Deal

Glassnote, Clear Channel Strike Royalty Deal
Radio conglomerate Clear Channel has agreed to pay sound recording performance royalties to artists signed to Glassnote Records, according to a Billboard.biz report. The news follows a similar agreement that was reached between Clear Channel and Big Machine Label Group in June. Clear Channel confirmed that the Glassnote deal will be structured similar to the Big Machine agreement, which will pay a royalty as well as an undisclosed percentage of music advertising revenue to the label for digital and terrestrial broadcasts. Glassnote's artist roster includes Childish Gambino, Givers, Mumford & Sons, Phoenix, and Two Door Cinema Club, among others. (9/28)

Spotify UK Revenue Up
UK subscription revenue for music streaming service Spotify totaled $117.6 million in 2011, up from $73.2 million reported in 2010, according to a Financial Times report. The company also reported a net operating loss of $3.4 million, a smaller deficit compared to a $43 million loss reported in 2010. Overall revenue totaled $154.9 million, up from $102.5 reported in the previous year. (9/28) 

Gramophone Awards Honor Abbado
GRAMMY-winning Italian composer Claudio Abbado was honored with the Lifetime Achievement Award at the Gramophone Awards 2012 on Sept. 27 in London. The Recording of the Year prize went to the Vox Luminis ensemble for Schütz's Musicalische Exequien, the Artist of the Year prize went to GRAMMY-nominated tenor Joseph Calleja. British pianist Benjamini Grosvenor, who at 20 years old became the youngest artist to receive multiple Gramophone Awards, was named Young Artist of the Year. The awards honor the best international classical music recordings and are voted on by a panel of critics from Gramophone magazine. (9/28)

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