Clear Channel inks first-of-its-kind royalties pact with Fleetwood Mac

06/12/2013 | Billboard.com

Clear Channel Media and Entertainment has reached a potentially groundbreaking new agreement with Fleetwood Mac to pay performance royalties for tracks from the group's "Extended Play" EP that are played on Clear Channel's 850 broadcast outlets. The deal is the first such agreement between a radio operator and an artist, Clear Channel says. "Reaching an agreement with [Fleetwood Mac] is the clearest sign yet that this kind of revenue-sharing model represents the industry's future -- it is a win-win-win, for artists, fans and the music business," said Clear Channel CEO Bob Pittman.

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