On April 20 1992, Madonna signed a $60 million, seven-year contract with Time Warner Inc. as a joint venture to form a new multi-media entertainment company: Maverick.
Madonna was made CEO of Maverick (her own record and music publishing company), which included TV, film, merchandising and book publishing divisions.
The contract re-negotiated and extended Madonna’s contract with Sire Records: a $5 million advance per album & a 20% royalty rate for her next seven albums. The future recordings would all be released by Maverick/Sire Records.
On September 19 2000, Madonna’s eighth studio album “Music” was released by Maverick Records. “Music” was released in some markets on September 18.
In anticipation of the release Madonna made this statement:
“Hey Mr. DJ, put a record on… Hi, it’s Madonna. You’ve probably been hearing about my new record, ‘Music‘, for a while. Well, I just wanted to make sure you knew that the single is gonna drop very soon. I worked on it with a French guy named Mirwais, and he is the shit. The album will be released worldwide on September 19, and I hope you like my music.”
Madonna attended the “Music” launch party at the club Catch One in Los Angeles, California.
Isn’t Guy adorable in that tank?