Beasley, Big Machine Do Deal
Count another radio broadcaster with a direct streaming royalty and digital revenue deal with a record label.
Beasley Broadcast Group says it has signed such a deal with the Nashville-based Big Machine Label Group; other radio groups, like Clear Channel and Entercom signed similar deals with Big Machine last year.
Beasley Chairman/CEO George Beasley says the Big Machine agreement represents a “forward thinking way of doing business.”
To remain relevant, radio must continually adapt to the current environment, Beasley added.
Through this agreement, Beasley will share a percentage of its on-air revenues with Big Machine, and thus its artists like Taylor Swift, Tim McGraw, Rascal Flatts and Reba.
Big Machine has agreed to allow digital simulcasts of the over-the-air signals by Beasley Broadcast to “scale affordably” as Beasley’s digital platform grows, according to the broadcaster.
Beasley EVP/CFO Caroline Beasley called the deal “a testament to how the free market should work,” noting that today’s listener “will accept nothing less than compelling audio and visual content on-the-air and on their smartphone, tablet and computer … anytime, anywhere.”