Madonna's new album is finished and will be released in March 2012 on Interscope Records, the label and Live Nation Entertainment announced on Thursday morning. The deal, which has been rumored for weeks, was confirmed by sources to Billboard Wednesday.
In 2007, Live Nation signed the superstar to a 10-year deal reportedly worth $100 million that includes new studio albums, touring, merchandising, fan club/website, DVD's, music-related television and film projects and associated sponsorship agreements. This portion of the commitment is being valued at $40 million, sources tell Billboard.
The Universal Music Group-owned label will release three albums by the Material Girl. Her first single, called "Gimme All Your Luvin," is due out the last week in January (a demo of the song leaked in early November) just ahead of Madonna's halftime performance at the Super Bowl on Feb. 5. Two days earlier, the film W.E., which Madonna directed and co-wrote, is scheduled to hit theaters.
The as-yet-untitled album is her first in five years. Madonna had been signed to Warner Bros. since 1982. Van Halen, another Warners act, also recently signed with Interscope.
"We look forward to a great partnership," commented Live Nation Entertainment's Chairman of Global Music & CEO, Global Touring Arthur Fogel said in a statement.
Madonna's manager Guy Oseary said: "We couldn't be happier to work with Jimmy Iovine, Lucian Grainge (Chairman & CEO, Universal Music Group) and the entire Interscope team. We anticipate a very bright future at our new home." Added Jimmy Iovine, Chairman of Interscope Geffen A&M. "Very rarely does an opportunity like this come around. We would like to thank Madonna, Guy and Live Nation for their belief in us."
Live Nation CEO Irving Azoff reiterated to Billboard in February that it would partner with some other entity in releasing Madonna's next album. Executives at the firm have stated repeatedly that they don't intend to enter the record business full-tilt.
"Live Nation, prior to the merger, entered into some of these all-rights deals, so there are certain artists, Madonna being one of them, that there is a recorded music strategy," Azoff said. "Once she gets the album recorded, we'll sit down with her and her manager Guy Oseary and figure out what's best for the record. It has to start with the music."