Ryman Hospitality Explores Distribution Opportunities
Ryman Hospitality Properties plans to expand the global reach of its businesses including the Grand Ole Opry and Ryman Auditorium. Chairman, President and CEO Colin Reed discussed opportunities for increased distribution during a recent conference call, according to the Nashville Post, though he didn’t elaborate on what form the distribution will take. He said, “We are seeing a ton of demand into this market, people wanting to play our places and people wanting to visit our places. The opportunity for us is how we distribute and communicate that content outside the arena or outside the building it’s playing in… For the first time, people all across the planet are being exposed to the genre of music that is basically controlled in this town… This is about distributing content across the planet.”
In January, it was revealed that Ryman Hospitality’s Opry Entertainment Group is involved with a new musical version of Hee Haw. Opry execs Steve Buchanan and Sally Williams are producing the show which features music penned by songwriters Brandy Clark and Shane McAnally.
In 2013, Ryman’s Opry and Attractions Group posted increased revenues of 8 percent, growing to $76.1 million. Ryman’s fourth-quarter 2013 profits reversed a late-2012 loss of $15.0 million, coming in at $30.2 million.
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