Madonna's is leaving her longtime record label, Warner Music, to sign with concert promoter Live Nation , sources say- a move that could encourage other superstars to follow her lead. Under the $120 million deal, Madonna would receive $50 million for performances; ninety percent of ticket sales; a total of $50 million to $60 million for three new albums: and a $17.5 million advance.
At forty-nine, Madonna isn't exactly at her peak as a recording star. While she's sold 63 million records in her career, 2005's Confession on a Dance Floor sold just 1.6 million, according to Nielson SoundScan. But Live Nation will also take action of Madonna's merchandise sales and secure the right to license her name for new ventures, such as a perfume.
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