BALA CYNWYD, PA– NASHVILLE, TN –Leading Nashville independent record label Big Machine Label Group and Entercom Communications today announced an agreement to align their business interests and accelerate growth and innovation in digital radio to the benefit of music fans and radio listeners everywhere. Through this mutually beneficial arrangement, Big Machine will become the first record company to directly participate, along with its artists, in Entercom’s terrestrial broadcast radio revenues.
Artists with Big Machine’s wholly owned labels who will benefit from this agreement include Big Machine Records artists Taylor Swift, Tim McGraw, Rascal Flatts, Edens Edge and Ella Mae Bowen and Valory Music Co. artists Reba McEntire, Justin Moore, Brantley Gilbert, The Mavericks and Thomas Rhett.
“This agreement represents a bold step forward to align our interests with those of Big Machine and their artists. While the deal comes with some significant costs and risks, we believe that by working with the labels and the artist community to establish a new business model, we will ultimately enhance the opportunities for all parties concerned,” said Entercom President and CEO David Field. “I also want to acknowledge Scott Borchetta, Bob Pittman and John Hogan for their vision and leadership in blazing the trail that made this deal possible.”
“As great and leading visionaries in the broadcast world continue to look into the future, they are seeing where listeners are going in regards to how radio is being used now and where and how it will be used in the very near future. Among the many choices in the audio entertainment landscape, radio is now portable again thanks to smartphones and soon-to-be ubiquitous Internet streaming in the car”, said Scott Borchetta, President and CEO of the Big Machine Label Group.
“David Field and his cutting edge team at Entercom Communications completely understand this vision. I’m honored that they have joined us as partners in growing digital radio as well as compensating the artists that provide great musical content for their terrestrial stations. They have chosen to lead and everyone in the artist and creative community applauds their bold leadership role.”
About Entercom Communications
Entercom Communications Corp. (NYSE: ETM), led by President and CEO David Field, is one of the five largest radio broadcasting companies in the United States, with a nationwide portfolio of 111 stations in 23 markets, including San Francisco, Boston, Seattle, Denver, Portland, Sacramento and Kansas City.
Known for developing unique and highly successful locally programmed stations, Entercom is home to some of radio’s most distinguished brands and compelling personalities. The company is also the radio broadcast partner of the Boston Red Sox, Boston Celtics, Buffalo Bills, Buffalo Sabres, Kansas City Royals, Memphis Grizzlies, New Orleans Hornets, New Orleans Saints, Oakland Athletics and San Jose Sharks.
Entercom focuses on creating effective integrated marketing solutions for its customers that incorporate the company’s audio, digital and experiential assets. Additionally, the company has a long-standing commitment to responsible corporate citizenship and environmental stewardship. Entercom stations play a vital, hands-on role in improving their communities, providing over $100 million in annual support for local charitable organizations.
The company’s radio stations have received numerous awards, including multiple Edward R. Murrow Awards for excellence in broadcast journalism as well as the National Association of Broadcasters (NAB) Marconi Award for excellence in radio broadcasting.