iHeartmedia (formerly Clear Channel) Media and Entertainment and Wind-up Records, one of the largest independently-owned record labels, announced an agreement in which the companies will share both digital and broadcast radio revenue streams. iHeartmedia (formerly 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 iHeartmedia (formerly 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 iHeartmedia (formerly 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 iHeartmedia (formerly Clear Channel) in its digital radio strategy.”
iHeartmedia (formerly Clear Channel)’s market-based agreement with Wind-up follows several recent, similar agreements, including Big Machine Label Group, Glassnote Entertainment Group, DashGo, rpm Entertainment, Robbins Entertainment, and Naxos.