LONDON: Whether they know it or not, Sir Elton John, Stevie Wonder and band-of-the-day Keane are set to contribute to the fiscal welfare of the global advertising industry, thanks to a deal struck between Universal Music and WPP Group.
A fifty-fifty joint venture between Universal - the planet's largest music company - and WPP's GroupM, the new enterprise, named BrandAmp, will link leading brands to well-known artists and their music.
The deal is also expected to cover brand sponsorship of music events and initiatives. And to the advantage of both parties, it effectively cuts out the middlemen from deals involving the use of music in commercials.
Data sourced from The Times Online (UK); additional content by WARC staff