Netmix has put together a mix of blogs posts, news articles, and tweets from around the web about this landmark deal. Here is the announcement on Big Machine Label Group’s blog and a tweet out about the announcement from Taylor Swift’s Twitter feed.
The Wall Street Journal and New York Times quickly picked up the story. Headliner.fm and TuneCore published their take on the news. And, Billboard, MTV, and Variety weighed in quickly with posts about the deal.
While this is the first in, most likely many announcements to come, its unclear how much revenue is on the table for Big Machine. With Clear Channel brokering independent deals in lieu of any agreement between the recording and radio industries, are those deals fair and equitable? With the onus upon labels to cut a deal with the radio powerhouse, will other broadcast outlets follow suit? And, how are these royalties going to be tracked and distributed to labels beyond the deal? Many questions remain to be answered. While this bodes well for artists, it could take a while for many independent labels to reach agreements with the radio networks.