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<i>Commentary:</i> Favored-Nation Clauses: Live Nation's Expansion Into 360-Degree Deals with Artists

By Paul Menes
Like a lot of you, I've been watching the major record labels try unsuccessfully for some time to replace the CD and revamp their business model. Napster launched and didn't go away, instead chipping away at ' and eventually crumbling ' the labels' foundations. Many artists and employees, some friends and colleagues among them, lost their jobs in a shrinking industry.

Quicker Return

Artist development, always a major component of a label's value (and eventually, a valuable catalogue), became almost non-existent. The major labels are no longer run by true music men and women, the kind of visionaries, mavericks and dreamers ' like Sam Phillips, Jerry Wexler, Berry Gordy, Chris Blackwell, the Ertegun brothers and Clive Davis, among others ' who built an industry from scratch into an innovative and creative cultural force.

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