Wednesday, October 10, 2007

Madonna dumps her record label

As reported in TechCrunch the pointy-bra'd superstar followed Nine Inch Nails' example and dropped her record company, opting instead to sign a $120 million deal with a promotion company.

While she didn't turn to a direct-to-consumer approach, I'm sure the record industry is probably pretty nervous about now - Madonna isn't exactly a small name.

How do you think this will affect the music industry? Is it the beginning of the end? I'm interested to hear what everybody thinks the ramifications of this (near- and long-term) will be.