Clear Channel & Stardome Media Group Announce Revenue Sharing Deal
March 31, 2014
Clear Channel Media and Entertainment and Stardome Artist Development Group, (a division of Stardome Media Group) a major media and entertainment company focusing on the U.S. Hispanic and Latin American marketplaces, have announced a revenue-sharing agreement that will allow artists represented by Stardome to share in revenues from Clear Channelís broadcast radio stations and digital streams.
Stardome is the U.S. home to popular artists such as teenage rock/pop band Synderes and Latin Grammy Award-nominated Spanish-Mexican singer/songwriter Belinda, a global star whose albums have sold more than 12 million copies worldwide. And with more than two million albums sold in the U.S., Belinda is one of the best-selling female Mexican artists in this country.
In addition to representing high-profile talent, Stardome Media Group is the leading U.S. provider of Spanish language radio network programming, syndication, and network ad sales representation. Operating one of the largest syndication platforms in the world, Stardome provides coverage to approximately 95 percent of the U.S. Hispanic market through broadcast and digital radio.
"Radio is the core of Stardomeís business, and provides a way for us to connect millions of Hispanic listeners with great artists, popular music, and compelling content," said Anthony Michael Hernandez, Managing Director/CEO, Stardome Media Group. "We are glad to partner with Clear Channel, and to take steps toward ensuring that our artists and their music will continue to be easily available to listeners wherever they are in the new digital radio marketplace.Ē Hernandez added, ďAs a media company focused on the growing ethnic market segment in America, Stardome is also aiming its efforts to the 2nd and 3rd generation Latinos, that are English dominant."
"Stardome has enjoyed remarkable success in the radio space, engaging Spanish-language listeners, artists, and advertisers across the U.S. and the world," said Bob Pittman, Chairman/CEO of Clear Channel. "Like us, they recognize that the industry is changing, especially as digital capabilities evolve. We are excited to partner with Stardome and work together to create a sustainable, long-lasting digital radio industry."