The agreement will create a label imprint for new artists who are discovered through Shazam, and allow Warner to use Shazam’s data to see what songs are catching on and where.
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Clear Channel will pay royalties for the first time to performers and a record label when songs are played on its radio stations. In return for the record label, Warner Music, will discount the high cost to stream music online.
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The $765 million purchase involves major artists like Coldplay and Radiohead. To win approval in Europe, Warner Music agreed to sell assets to independent labels.
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The 81-year-old founder of Elektra records is behind a new iPad app that explores the music and history of the Doors.
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Access Industries, a holding company owned by Len Blavatnik, the Russian-born billionaire investor, is one of several parties investing $60 million in Daisy, a planned service by Beats Electronics, Beats announced late Tuesday.
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