A lot of well-known artists have been reported to dump their respective recording companies. These include Nine Inch Nails, Jamiroquai and Oasis. Big names leaving their labels such as these groups have spread speculative rumors about the end of the recording studio industry. In the current music industry, recording companies are becoming redundant and not required as digital downloads and peer-to-peer music sharing have become more popular. Now you can add Madonna, one of the biggest names in music, to the growing list of acts leaving the recording industry.

Madonna has signed a 120-million deal with L.A.-based concert promotion outfit Live Nation. Live Nation will distribute three studio albums, promote concert tours, sell merchandise and license Madonna’s name. Although Madonna will still not offer direct-to-public albums, Live Nation is not a record company. Madonna’s move may well be the tipping point from where more recording artists will dump labels and join the bandwagon.