Musicians Net Stock In Themselves

Back - Index - Submissions - - What is RSS? Date: Jul 21, 2099 Source: Variety Submitted By: Lala By Marc Graser HOLLYWOOD (Variety) - Artistdirect Network said Friday it has signed a deal with 45 music artists, giving everyone from the Backstreet Boys to the Rolling Stones a combined total of better than 10% in the music retailer through stock options, in return for the rights to sell their wares. The deal comes in the same week Artist said it will pool its Artistdirect.com, UBL.com and iMusic Web sites under one hub. As part of the pact, artists are expected to reap higher revenues from product sales -- CDs, MP3 downloads, videos, clothing -- through the site as shareholders. Artistdirect enables artists to control their own Web sites, online stores, images and downloadable music. The e-tailer collects a percentage of the sales and ads and manages the sites and online stores. Artistdirect.com has 23 individuals sites for music groups or artists, including the Backstreet Boys, Beck, Limp Bizkit, Blink 182 and the Red Hot Chili Peppers. The 22 newcomers include Aerosmith, the Brian Setzer Orchestra, the Offspring, Foo Fighters, Matchbox 20, Metallica and B-52s. Comment on this item. Next Item: Chat with one of the BACKSTREET BOYS! Prev Item: A Backstreet/Kennedy Connection?