Paul McCartney [ tickets ] and Starbucks Corp. announced yesterday that the former Beatle will become the first performer to release an album on the company's new Hear Music label.

The announcement was made by company chairman Howard Schultz at the giant coffee-retailer's annual meeting in Seattle. McCartney, appearing via satellite from London, said his signing with the start-up label reflected the current state of the recording industry, with even top performers looking for new ways to move their product in the face of increased competition for entertainment dollars.

"For me the great thing is the commitment and the passion and the love of music, which as an artist is good to see," said McCartney. "It's a new world now and people are thinking of new ways to reach the people and, for me, that's always been my aim."

McCartney's new, still-untitled album is slated for release "early this summer," according to a press release. The disc will be sold at all Starbucks locations worldwide, as well as through traditional retailers.

"Having the honor of releasing an album by Paul McCartney as our first project under the Hear Music label is, in a word, remarkable," said Ken Lombard, president of Starbucks Entertainment. Hear Music is partnering with Concord Music Group to launch the new, Los Angeles-based label.

Starbucks has attempted in recent years to spin off its popularity among consumers into the entertainment industry, with the chain carrying CDs in its stores, including albums by Bob Dylan, Ray Charles and others.

Neither the company nor McCartney released financial details of the record deal.

McCartney's most recent album, the Grammy-nominated "Chaos and Creation in the Backyard," has sold only 533,000 copies in the US since it was released in 2005, according to Nielsen SoundScan, a figure notably below what the singer/songwriter is accustomed to pulling in.

McCartney remains a popular live act. His 2002 tour was the top draw in North America, with ticket sales of over $100 million.