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.”

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1. Big Machine Label Group Announces Publishing Expansion
2. Clear Channel Radio Changes Name
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The Band Perry had the privilege of announcing the five finalists who may win the opportunity to have the race named after them. They include veteran and philanthropist, Dale Beatty, ICU Nurse, Lindsey Marquez, Fire Lieutenant and EMT, Curtiss Shaver, Deputy Sheriff John Thomas & veteran and Purple Heart recipient, Brandon Veatch. The winner out of these lucky five will have their name on all race signage, apparel, TV broadcasts, as well as the opportunity to meet the country stars and attend the performances, wave the green flag to start the race and deliver the trophy to Victory Lane.

“There’s no track in the world like the Indianapolis Motor Speedway and I’m thrilled that we will return as a race sponsor in 2012 for the Crown Royal presents the ‘Your Hero’s Name Here’ 400 at the Brickyard powered by BigMachineRecords.com!” said Scott Borchetta, President and CEO of the Big Machine Label Group. “We will again bring our most exciting artists to the stage for a great pre-race musical experience for the fans.”

“Once again the Indianapolis Motor Speedway is excited to offer a weekend full of great racing and great music,” said Indianapolis Motor Speedway Corporation president and CEO Jeff Belskus. “Our fans are in for a real treat when some of the best names in the Big Machine Label Group combine with Crown Royal and some of the best names in racing to provide a great day of entertainment for our fans.”

If you’d like to cast a vote for one of these incredible finalists, you can visit Facebook.com/CrownRoyal and click the “Crown Your Hero” tab. The voting will run until June 28th.

If you’d like to attend the big race, tickets start at just $30 and can be purchased online at www.imstix.com, by calling the IMS ticket office at (317) 492-6700, or (800) 822-INDY outside the Indianapolis area, or by visiting the ticket office at the IMS Administration Building at the corner of Georgetown Road and 16th Street between 8 a.m.-5 p.m. (ET) Monday-Friday. Children 12 and under will receive free general admission to any IMS event in 2011 when accompanied by an adult general admission ticket holder.

Check out photos of the Band Perry at the Indianapolis Motor Speedway here:

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2. Bon Voyage, The Band Perry!
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