9-8-13
Scott Borchetta's Big Machine Label Group has signed an agreement with another radio company. Greater Media says it has inked a multi-year licensing agreement with BMLG. The label will share in a percentage of Greater Media's revenue as a result of the deal. Borchetta's talent roster includes Taylor Swift, Tim McGraw, and Rascal Flatts, and the Valory Music Co. artists Justin Moore, Reba, Brantley Gilbert, The Mavericks, and Thomas Rhett.
Greater Media Chairman and CEO Peter Smyth said, ?We are thrilled to partner with the Big Machine Label Group, its President and CEO Scott Borchetta, and the company?s outstanding artists through this licensing agreement. This is a great example of the radio and record industries working together with the ultimate goal of being able to provide the best entertainment possible on a multi-platform basis for our valued listeners.?
Borchetta said, "Peter Smyth is an American broadcasting visionary who fully understands the importance of leading a healthy radio entertainment business in lockstep with a healthy recorded music business. The broadcast industry knows that the Big Machine Label Group is fully supportive of the mission of having great radio available in as many places as possible and this is another public vote of confidence and support for that mission."
The release said, "Through this agreement, Big Machine has agreed to an innovative approach to allow digital simulcasts of the over-the-air signals by Greater Media to scale affordably to support the growth of the company?s digital platform. Meanwhile, Greater Media has agreed to share a percentage of its on-air revenues with regard to the performance of Big Machine?s recorded music on terrestrial platforms."
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