Beasley Broadcast Group, Big Machine Label Group to Share Certain Revenue
Feb 5, 2013 9:22 AM
Naples, FL - Feb 5, 2013 - Beasley Broadcast Group has reached licensing agreement with Nashville-based Big Machine Label Group to share certain over-the-air broadcast and digital revenue related to the use of Big Machine's Music.
"In our 50-plus years in radio," says Chairman and CEO George G. Beasley, "Beasley Broadcast has witnessed many changes in the way broadcasters deliver music to listeners. More importantly, we have put our money where our mouth is by participating in technological advancements and adjusting our business when we felt it benefited our company and industry. Our new agreement with Big Machine represents a forward thinking way of doing business with Beasley bringing to the table dominant country-formatted radio stations in Philadelphia, Miami, Las Vegas, Fayetteville, NC and Augusta, GA. Working together is consistent with one of our core beliefs - that to maintain relevancy, radio must continually adapt to the current environment."
Through this agreement, Beasley will share a percentage of its on-air revenues with Big Machine Label Group, and thus its artists. Big Machine has agreed to allow digital simulcasts of the over-the-air signals by Beasley Broadcast to scale affordably to support the growth of Beasley's digital platform.
"This new relationship opens the door for incredible digital broadcast opportunities between Beasley's portfolio of radio stations and Big Machine's talented artists," says Executive Vice President and Chief Financial Officer Caroline Beasley. "It is a testament to how the free market should work."
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