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Big Machine’s newest artist, Laura Bell Bundy, is about to experience a whirlwind, courtesy of her new partnership. Laura’s new single, “Two Step,” which will surely be the next line dancing phenomenon in country bars and clubs, will officially be available on iTunes July 9th and impact Country radio on August 5th.
Additionally, CMT and CMT.com will run a 24-hour, exclusive world premiere of the brand new music video for “Two Step” tomorrow, July 4th, with subsequent re-airs promoted across all of CMT’s digital platforms and 5.3 million social media fans.
Congratulations to Scott Borchetta and the whole team at Big Machine Label Group! A recent story by Forbes Magazine has named the Nashville powerhouse the hottest country music label. The label group is home to superstars like Taylor Swift, Reba McEntire, Tim McGraw, Rascal Flatts, The Band Perry, Martina McBride, Eli Young Band, and the recently acquired Laura Bell Bundy.
Part of the article says:
“Big Machine is big business. It’s a private company, which means that its financials aren’t open to the public. But Forbes estimates that the label pulls in revenues in the high eight-figures, a sum Borchetta didn’t deny. With margins in excess of 20% — far higher in certain years — he says the company’s value could easily be nine figures. $200 million, anybody? ‘There are people who would buy it for that’ says Borchetta. ‘But it’s not for sale’.”
Read the rest of the article here on Forbes’ site. Are you surprised to hear that Big Machine is the biggest label in country music right now?
Last night the Country Music Association (CMA) held its annual international media reception before the 46th annual Country Music Association Awards, which airs tonight. During the international reception, CEO Steve Moore made a special presentation for the head of Big Machine Records, to honor Scott Borchetta‘s contribution of the marketing of country music internationally with the Jo Walker Meador Award. The award recognizes an individual or company’s efforts to develop country music on a global scale.
On why the CMA membership chose Scott Borchetta, Steve Moore said:
“Scott has a global vision and has opened the door for other Country music artists. He is helping to change the perception of Country music internationally and very deserving of this award.”
It’s a big deal for Scott, who said on acceptance:
“It’s truly an amazing honor – and Jo it is great to have you here. She’s truly a living legend and when you look at her works, in a lifetime of loving this music, there’s probably nobody more important than Jo… And so, I am honored today.”
The 46th annual Country Music Association Awards air live tonight on ABC. Carrie Underwood and Brad Paisley have returned for the fifth year to co-host the show live from Nashville’s Bridgestone Arena at 8 pm EST.
We might finally have an end to the Taylor Swift debate after all. During a backstage interview with Billboard Magazine at iheartradio in Las Vegas on the weekend, Big Machine Records CEO Scott Borchetta admitted that Taylor’s new record “RED” is a “pop record.” In fact, the country mix of “We Are Never Ever Getting Back Together” won’t even make the record, he says.
“There was a really specific moment that she and Max Martin and Shellback created and it’s very much a pop record. We’ve never hidden behind what it is.”
Taylor released a more-country leaning song to iTunes last night from “RED” titled “Begin Again.” It quickly found its way to the top of the iTunes charts. Do you think Taylor should go back to country, or are you happy with her “pop” record?
The Big Machine Label Group is home to such artists as Taylor Swift, Tim McGraw, Rascal Flatts and Eden’s Edge on Big Machine Records, as well as Reba McEntire, Justin Moore, Brantley Gilbert, The Mavericks and Thomas Rhett on Valory Music Co. The group announced today that they are partnering with Clear Channel Media and Entertainment 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 agreement, Big Machine (and its artists) will become the first record company to directly participate in Clear Channel’s terrestrial broadcast radio revenues. For Big Machine Label President and CEO Scott Borchetta, it was a no brainer. Borchetta said, “In Clear Channel, I found partners who shared my big-picture view of how we could structure an agreement to benefit all involved. Not only does this partnership enable Big Machine to participate in terrestrial broadcast revenues, but we are also helping to grow digital radio – a great opportunity for all of us and a breakthrough opportunity for Big Machine artists.”
“Scott Borchetta has reinvented the music business in many important ways over the years, from distribution and artist development to promotion and advertising,” said Bob Pittman, Chief Executive Officer of Clear Channel. “Focusing that same creativity on how best to grow the music business, Scott has developed this new model with us to let his labels and artists participate in the revenue of broadcast radio immediately and in digital radio as it builds. This is a big step, but we think this investment is an opportunity worth taking to align our interests in all of our revenue streams and grow digital listening to its full potential with record labels and their artists as our partners. This landmark agreement creates a structure that makes sense for both our companies – but most of all for music fans.”
“Today, 98 percent of our listening is terrestrial broadcast and 2 percent digital – with record labels and artists only paid for the 2 percent,” said John Hogan, Chairman and Chief Executive Officer of Clear Channel Media and Entertainment. “This new agreement expands label and artist participation from just digital to terrestrial broadcast radio revenues in one comprehensive framework that will give all of us a great incentive to drive the growth of the digital radio industry and allow everyone to participate financially in its growth. This market-based solution helps bring the best in music to radio listeners wherever they want to hear it.”
Taylor Swift isn’t the only star on the Big Machine Records roster winning awards. President and CEO Scott Borchetta will receive the “Spirit of Excellence Award” at the T.J. Martell Foundation’s 36th Annual New York Awards Gala. The ceremony takes place on November 3rd, 2011 at the Marriott Marquis Times Square. There will be a cocktail reception, dinner, musical performances, and a silent auction at the event. The event usually brings in 1,000 celebrities and top officers of the biggest companies in America.
Other honorees include Coca-Cola company’s Chief Sustainability Officer Bea Perres, actor Drew Carey, and, golf legend Arnold Palmer. Presenters and performers are yet to be announced.
And, hey, if you want to go? The cheapest table sponsorship is only $15,000.