Agreement between Clear Channel and Wind-up Records Enables Artists to Share in Digital and Broadcast Radio Revenue
One Of The Largest Independently-Owned Labels and the Country's Leading Media Company Ink Deal to Further the Development of a New, Sustainable Business Model for the Digital Radio Industry
Wind-Up Artists Include Evanescence, Creed, Seether, Five for Fighting, O.A.R., Filter, Finger Eleven, Civil Twilight, Jillette Johnson, Young Guns, The Virginmarys, Aranda and The Darkness
NEW YORK--(BUSINESS WIRE)-- Clear Channel Media and Entertainment and Wind-up Records, one of the largest independently-owned record labels, today announced an agreement in which the companies will share both digital and broadcast radio revenue streams. Clear Channel is America's leading media company in America with a greater reach than any other radio or television outlet.
Founded in 1997, Wind-up Records has successfully launched a number of multi-platinum rock artists, including Evanescence, Creed, Finger Eleven, and Seether, and has further built the careers of Five for Fighting, O.A.R. and The Darkness, among others. Wind-up has garnered seven multi-platinum albums, including Creed's diamond-certified Human Clay, and seven gold albums. Earlier this year, Wind-up signed Filter, whose sixth album, The Sun Comes Out Tonight, is scheduled for release June 4, 2013. In addition to these marquee acts, Wind-up has scouted and developed several award-winning emerging artists, such as Civil Twilight, Young Guns, The Virginmarys, Aranda and Jillette Johnson.
"Wind-up has an impressive roster of established and up-and-coming artists, due in large measure to its collaborative, supportive artist development process, and we're excited to partner with them," said Bob Pittman, CEO of Clear Channel. "This agreement demonstrates that market-based solutions can enhance the future growth of digital radio - and benefit artists, labels, and listeners as well."
"Wind-up at its essence is an artist development company," said Wind-up's Chief Executive Officer Edward Vetri. "This partnership with Clear Channel will provide us a new and innovative platform to make our artists' music more accessible to their fans. We believe growing digital radio is critical to artist development and are excited to be aligned with Clear Channel in its digital radio strategy."
Clear Channel's market-based agreement with Wind-up follows several recent, similar agreements, including Big Machine Label Group, Glassnote Entertainment Group, Dualtone, DashGo, rpm Entertainment, Robbins Entertainment, and Naxos.
About Wind-up Records
Wind-up Records is a privately-owned, full-service music entertainment firm that was founded in 1997. The company has successfully launched numerous multi-platinum artists including Evanescence, Creed, Seether and Finger Eleven and has further built on the successes of The Darkness, Five for Fighting, James Durbin and O.A.R. In addition to these marquee acts, Wind-up has scouted and developed several award-winning, newer artists such as Civil Twilight, The Virginmarys, Young Guns, Company of Thieves, Jillette Johnson and Thriving Ivory. Wind-up brings a unique approach to developing and breaking bands. Since its inception nearly 15 years ago, Wind-up has shipped over 60 million units worldwide, garnered seven multi-platinum albums (including one diamond - sales over 10 million) and seven gold albums. Additionally, Wind-up has licensed music to high-profile television shows and motion pictures including several movie soundtracks, most notably, the platinum selling "Walk the Line." Combining a team of creative A&R scouts, in-house writers and engineers with its own recording studio, Wind-up cultivates a fluid and collaborative recording process with its artists, independent of points in their career. Additionally, as pioneers of the 360-degree deal, Wind-up umbrellas several other entities including various publishing companies, a touring division, a television corporation and Pronto Merch, a full-service merchandise company.
About Clear Channel Media and Entertainment
With 243 million monthly listeners in the U.S., Clear Channel Media and Entertainment has the largest reach of any radio or television outlet in America. Clear Channel Media and Entertainment serves 150 cities through 850 owned radio stations.
The company's operations include radio broadcasting, online and mobile services and products, live concerts and events, syndication, music research services, and independent media representation. The company's radio stations and content can be heard on AM/FM stations, HD digital radio channels, SiriusXM Satellite Radio, on the Internet at iHeartRadio.com and on the company's radio station websites, on the iHeartRadio mobile application on iPads and smartphones, and used via navigation systems from TomTom, Garmin and others. Clear Channel Media and Entertainment is a division of CC Media Holdings, Inc. (OTCBB: CCMO), a leading global media and entertainment company. More information on the company can be found at clearchannel.com.
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