Madonna has recently terminated her contract with Warner Music after 25 years and signed a new contract with tour company Live Nation.
Now that digital music is so cheap, not to mention illegal downloads, Madonna recognises that her main income in future will be from performances and related products, not music sales. So she has changed her business model and Live Nation is a more appropriate partner than a traditional record label.
“The paradigm in the music business has shifted and as an artist and a businesswoman, I have to move with that shift,”
Madonna’s move illustrates that creativity is not just about being an artist. You can use creativity in business too, by rearranging your business to maximise income as technology and customers’ behaviour changes.
As an artist and a businesswoman (a T-Shirt and a Suit), Madonna is a topical example of how creativity and business can be combined intelligently.