When Sting sang "I want my MTV" over 25 years ago and Dire Straits added it to their diatribe against cash-rich pop stars in Money For Nothing, they can't have envisaged that this year's Police reunion tour would gross 140 million dollars. Neither could a 12-year old Jay Z have thought he would be signing up for $150 million with Live Nation in a 360 deal that secures a percentage of all sales - CD, merchandise, touring, the lot - for the live promoter who will stage 16,000 shows this year alone.

The rap master's Glastonbury show had mixed reviews and he proved that he can't actually sing during his shakey, guitar-fueled cover of Oasis's Wonderwall. But the euphoria of his appearance meant it didn't matter. Rapping he had no problem with of course. And I reckon he's pretty good at counting his cash too.

Live Nation has also signed up Madonna on a 360 deal that netted her 120 million dollars this year. However it seems this is a risky strategy as Live Nation's shares have lost 50% of their value this week, possibly as people recollect that it was only a year ago that Sanctuary, who pioneered the 360 concept, crashed with a roster that included Elton John, Guns n' Roses, Morrissey and Jay Z's girlfriend Beyonce Knowles in an urban division headed up by her dad.

With the major labels looking to position themselves with similar deals,it's likely that less new talent will be brought through in this way, leaving more fuel for an already thriving independent sector. With XL having scooped Radiohead and now Beck the opportunity for people to actually deliver music that isn't primarily commercially-focused is back on the agenda. Exciting times. Imagine what Florence And The Machine could do with £120, never mind 120 million.