Industry Ink: Eddie Stubbs, Darius Rucker, Joe Nichols

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Eddie Stubbs Bids Final Farewell To WSM 650 AM

Pictured: Marty Stuart and Connie Smith join Eddie Stubbs in studio for Stubbs’ final show. Photo: Courtesy of WSM

Eddie Stubbs said farewell to over two decades on the air in his final show on WSM 650 AM last Wednesday (July 29) with a star-studded finale. Connie Smith and Marty Stuart visited with Stubbs in-studio on the show, and he also received well wishes via phone from Loretta Lynn, Too Slim of Riders in the Sky and for the first time in his 25-year career, a chat with Dolly Parton.

In addition to the interview with Parton, Stubbs checked another entry off his bucket list when legendary journalist Dan Rather joined him on Monday (July 27). Rather shared his love of country music and recounted listening to the Opry on WSM as a child sharing, “It was like an adventure. When the program was over you felt like you’d been on a trip.” He also offered his well wishes to Stubbs and declared, “if you get in trouble and need bail money don’t hesitate to call me.”

On July 8, 1996, Stubbs began hosting the evening shift on WSM and now holds the distinction of being the longest-serving broadcaster in the 7 p.m. to midnight slot in WSM’s 95 years of operation.

 

Darius Rucker Leads 11th Annual Benefit Concert For St. Jude Children’s Research Hospital

Pictured (L-R): Clint Black, Darius Rucker, and Tracy Lawrence at the 11th Annual “Darius & Friends” benefit concert. Photo: Courtesy of LiveXLive

Three-time Grammy Award winner Darius Rucker continues to give back to St. Jude Children’s Research Hospital, with the Thursday, July 30 live-streamed edition of his annual “Darius & Friends” benefit concert raising over $255,000 and adding to the event’s overall total of more than $2 million.

“When we first started talking about this year’s concert, which usually takes place during the week of CMA Fest, I had the idea to make it a really fun night of ’90s country,” Rucker said. “Even though gathering in person for our normal show wasn’t possible this year, we still wanted to do as much as we could to support the great work happening at St. Jude. I’m so thankful to my friends Clint Black and Tracy Lawrence for helping that ’90s country vision still come to life, and to the folks at LiveXLive for bringing this concert to everyone’s screens at home.”

 

Joe Nichols Hosts “Joe’s Place” On SiriusXM’s Y2Kountry Channel

Joe Nichols has signed on to host one hour of programming for SiriusXM’s Y2Kountry. “Joe’s Place” debuted Aug. 1, and airs new episodes at 5 p.m. ET on the first Saturday of each month, featuring songs curated by Nichols. Each episode will also feature a live musical performance from Nichols, making his the first artist-hosted show to include a live music component.

“I’m so excited to be expanding my relationship with the SiriusXM family by hosting my own show on Y2Kountry,” shared Nichols. “It’s a real full-circle moment from the days I hosted the overnight show in Arkansas as a teenager, but now I get to play what I want! I hope the listeners enjoy coming along on this new journey with me as we kick off ‘Joe’s Place’!”

WMG Posts Fiscal Third Quarter Results: Total Revenues Down As Digital Revenues Grow

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Like most major music companies, Warner Music Group has been impacted by the COVID-19 pandemic. Warner Music Group Corp. revealed its third-quarter financial results for the period ending June 30, 2020. Total revenue decreased 4.5% (3.1% in constant currency), even as digital revenues grew 11.1% (13.4% constant currency). Note: Constant currency refers to exchange rates used in order to eliminate foreign currency fluctuations when calculating financial performance numbers.

“We’re very pleased with our performance this quarter, especially in light of the global pandemic.  Our results highlight the underlying strength and resilience of our business. Streaming revenue grew double digits and our digital transformation continues,” said Steve Cooper, CEO, Warner Music Group. “Our commitment to new artist development is illustrated by the fact that four out of our top five best-sellers this quarter were from artists releasing debut or sophomore albums. Our artists and songwriters continue to create music that moves the world including, in the U.S., the most-streamed song of 2020, as well as the No.1 and No. 2 biggest Pop songs during the first half of the calendar year.”

“These results are slightly better than our expectations, given the sustained effect that COVID has had on certain aspects of our business,” added Eric Levin, Executive Vice President and CFO, Warner Music Group. “That’s a testament to the incredible ability of our teams, our artists and our songwriters to pivot and adapt, and to keep the hits coming. We have a robust cash position and all the music and resources needed to come out the other side of this with our long-term prospects as strong as ever.”

WMG’s earnings statement revealed that growth in Recorded Music and Music Publishing digital revenue was more than offset by a decline in Recorded Music physical, artist services and expanded-rights and licensing revenue and in Music Publishing performance, mechanical and synchronization revenue. The revenue decline was primarily due to COVID-related business disruption and the unfavorable impact from foreign currency exchange rates, partially offset by the continued growth in streaming. Digital revenue grew 11.1% (or 13.4% in constant currency), and represented 71.3% of total revenue, compared to 61.2% in the prior-year quarter.

Operating loss was $433 million compared to operating income of $58 million in the prior-year quarter. Operating income before depreciation and amortization (“OIBDA”) was a loss of $371 million, down from income of $124 million in the prior-year quarter and OIBDA margin decreased 48.4 percentage points to (36.7)% from 11.7% in the prior-year quarter. Net loss was $519 million compared to income of $14 million in the prior-year quarter. The decrease in net income, operating income, OIBDA and OIBDA margin was primarily due to a higher non-cash stock-based compensation expense of $426 million related to the Company’s long-term incentive plan reflecting changes in the value of the Company’s common stock, as well as $86 million in one-time costs associated with the Company’s IPO.

Adjusted operating income, Adjusted OIBDA and Adjusted net income exclude costs related to the Company’s IPO, non-cash stock-based compensation and restructuring and other transformation initiatives in the current quarter and costs related to the Company’s Los Angeles office consolidation, non-cash stock-based compensation and restructuring and other transformation initiatives in the prior-year quarter. See below for calculations and reconciliations of Adjusted operating income, OIBDA, Adjusted OIBDA and Adjusted net income.

Adjusted OIBDA increased 12.2% from $148 million to $166 million in the quarter due to lower expenses resulting from COVID-related business disruption and active cost-management efforts and Adjusted OIBDA margin increased 2.4 percentage points to 16.4% from 14.0% due to margin improvement associated with a decrease in lower-margin physical revenue and artist services and expanded-rights revenue and an increase in higher-margin streaming revenue, as well as lower operating costs. Adjusted operating income increased 27% from $82 million to $104 million in the quarter due to the same factors affecting Adjusted OIBDA.

Adjusted net income was $18 million compared to $38 million in the prior-year quarter. The decrease was due to an increase in income tax expense in the current quarter due to higher pre-tax income before non-deductible expenses related to the Company’s long-term incentive plan and one-time costs associated with the Company’s IPO, partially offset by gains on investments.

Adjusted EBITDA was $189 million compared to $159 million for the prior-year quarter. The increase was largely due to the same factors impacting Adjusted OIBDA in addition to higher pro forma savings expected to be realized from certain transformation initiatives.

Basic and Diluted earnings per share was a loss of $1.03 for both the Class A and Class B shareholders. The loss was due to the same factors affecting net loss.

As of June 30, 2020, the Company reported a cash balance of $532 million, total debt of $3 billion and net debt (defined as total long-term debt, net of deferred financing costs, minus cash and equivalents) of $2.468 billion.

Cash provided by operating activities was $123 million compared to $150 million in the prior-year quarter. The change was largely a result of the timing of working capital including royalty payments. Free Cash Flow, defined below, was $87 million compared to $103 million in the prior-year quarter largely due to lower operating cash flow, partially offset by a decrease in capital expenditures and investment activity.

Recorded Music revenue was down 5.7% (or 4.2% in constant currency). The revenue decline was primarily due to COVID-related business disruption and foreign exchange rates in the current quarter, partially offset by the continued growth in streaming. Growth in digital revenue was more than offset by declines in physical revenue, artist services and expanded-rights revenue and licensing revenue. Digital revenue growth reflects the continuing shift to streaming. The decline in physical revenue reflects lower physical sales due to the impact of COVID and the continuing shift to streaming. The decline in artist services and expanded-rights revenue was due to the timing of tour schedules compared to the prior-year quarter and tour postponements and lower tour merchandise revenue resulting from COVID-related business disruption.  The decline in licensing revenue reflects a decrease in advertising spend and licensing activity due to the impact of COVID. Major sellers included Dua Lipa, Roddy Ricch, Lil Uzi Vert, Tones And I and Ed Sheeran.

Recorded Music operating loss was $160 million, down from operating income of $85 million in the prior-year quarter and operating margin was down 27.9 percentage points to (18.6)% versus 9.3% in the prior-year quarter. OIBDA decreased to a loss of $119 million from income of $131 million in the prior-year quarter and OIBDA margin decreased 28.1 percentage points to (13.8)%.  Adjusted OIBDA was $167 million versus $146 million in the prior-year quarter with Adjusted OIBDA margin up 3.4 percentage points to 19.4%. The decrease in operating income and OIBDA was driven by a higher non-cash stock-based compensation expense of $276 million. The increase in Adjusted OIBDA and Adjusted OIBDA margin was primarily due to overall cost savings and revenue mix.

Music Publishing revenue grew 1.4% (or 2.8% in constant currency). Growth in digital revenue was partially offset by declines in performance, synchronization and mechanical revenue. Digital revenue growth reflects the continuing shift to streaming and timing of digital deals. The decrease in synchronization revenue relates to a decrease in advertising spend and licensing activity resulting from COVID-related business disruption.  The decrease in mechanical revenue is due to COVID-related business disruption, the continuing shift to streaming and one-time distributions in the prior-year quarter. The decrease in performance revenue was primarily driven by COVID-related business disruption.

Music Publishing operating income was $14 million compared to $18 million in the prior-year quarter.  Operating margin decreased 2.8 percentage points to 9.4%. Music Publishing OIBDA decreased by $3 million or 8.3% to $33 million, and OIBDA margin declined 2.4 percentage points to 22.1% from 24.5%.  Adjusted OIBDA decreased by $2 million and Adjusted OIBDA margin declined 1.7 percentage points to 22.8% due to revenue mix.

The Songwriter Agency Returns

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The Songwriter Agency has relaunched with music industry veterans Paul Compton and Randy Harrell.

Focused on representing hit country, pop and Latin songwriters and artists, the new roster includes Lonestar frontman Richie McDonald, former Little Texas leader Tim Rushlow, Country Music Hall of Famer Don Schlitz, hit songwriter Thom Shepherd and Latin songwriting great Elsten Torres, with additional signings in the works.

Compton and Harrell co-founded the company in 2010, alongside Rod Parkin. Additional signings to the agency’s roster will be announced in the coming weeks.

Aubrie Sellers Sets ‘World On Fire’ EP Release Date

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Aubrie Sellers is releasing her latest EP World On Fire, this Friday, Aug. 7 via Soundly Music.

The three-song EP features covers of Sellers’ favorites including Chris Isaak’s “Wicked Game,” a rocking rendition of Brenda Burns’ “Somebody Was Watching,” and an ethereal exploration of the Dwight Yoakam classic “A Thousand Miles From Nowhere.”

“’A Thousand Miles From Nowhere’ has always been my favorite Dwight song,” Aubrie said. “I feel solitude and dreaminess when listening to it, so I think we naturally amplified that when we went in to record it.”

World On Fire arrives on the heels of Aubrie’s first two Americana Music Honors & Awards nominations for Emerging Act of the Year, and Song Of The Year for “My Love Will Not Change” (featuring Steve Earle and written by Billy Burnette and Shawn Camp) from her critically acclaimed Far From Home album.

Triumph Bank’s Music Row-Area Location Transitions To Full-Service Office

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Pictured: Emily Dresch, Senior Vice President, Private Banking, Triumph Bank; Hannah McGraw, Assistant Vice President, Private Banking; Triumph Bank; Bill Menkel, President of Triumph’s Middle Tennessee Market; Ellen May, Senior Vice President, Sports and Entertainment, Triumph Bank; Frances Morris, Relationship Banker, Triumph Bank. Photo: Courtesy Triumph Bank

Tennessee-based Triumph Bank’s Music Row Loan Production office, which opened in 2019 and is located at 33 Music Square West, Suite 110B, has been converted into a full-service banking office.

Over the past 12 months, the company’s Sports and Entertainment Banking-focused office has acquired private bankers to supply a new menu of products and to continue to service clients.

Leading Triumph’s Music Row office are Ellen May, Senior Vice President – Sports and Entertainment Banking, and Emily Dresch, Senior Vice President – Private Banking. Rounding out the Music Row office team are Hannah McGraw, Assistant Vice President – Private Banking and Frances Morris, Relationship Banker.

May shared, “I’ve built countless relationships with people in both the entertainment and sports industries throughout my career, and I’m thankful that Triumph acknowledges the need for this banking niche in the Nashville area. Opening this office in the heart of Music Row allows us to better and more conveniently serve these clients with unique needs.”

Bill Menkel, President of Triumph’s Middle Tennessee market, added, “A little over two years ago, Tennessee-based Triumph Bank entered into the Nashville/Middle Tennessee market. Having a full-service banking office in Music Row, the heart and soul of Nashville, seemed to be the right thing to do. With the addition of Ellen May, who has focused on the lending side of the music business for many years, our entry was a no brainer.”

Ashley Gorley Maintains Position On MusicRow Top Songwriter Chart

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Ashley Gorley has had an extraordinary week, becoming the only songwriter in any genre to earn 50 No. 1 singles in the history of the Mediabase and Billboard Airplay charts when he scored his 50th No. 1 with LOCASH’s “One Big Country Song.” He maintains the No. 3 position on the MusicRow Top Songwriter Chart this week with credits on LOCASH’s hit, as well as “Hard To Forget” (Sam Hunt), “Hole In The Bottle” (Kelsea Ballerini), “One Of Them Girls” (Lee Brice), and “We Were Rich” (Runaway June).

HARDY remains at the No. 1 this week, with co-writer credits on “More Than My Hometown” (Morgan Wallen), “One Big Country Song” (LOCASH), and “Some Girls” (Jameson Rodgers), as well as his own “One Beer.” Josh Thompson holds the No. 2 position this week with credits on “Ain’t Always The Cowboy” (Jon Pardi), “One Margarita” (Luke Bryan), and “Be A Light” (Thomas Rhett feat. Reba McEntire, Hillary Scott, Chris Tomlin, Keith Urban).

The weekly MusicRow Top Songwriter Chart uses algorithms based upon song activity according to airplay, digital downloaded track sales and streams. This unique and exclusive addition to the MusicRow portfolio is the only songwriter chart of its kind.

Click here to view the full MusicRow Top Songwriter Chart.

Pandora, SiriusXM Debut New Weekly Chart, Playlist

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Pandora and SiriusXM have launched a new weekly chart and playlist, The Top Thumb Hundred, that reflects listeners’ favorite recent discoveries, based on Pandora listener data, by capturing the 100 most-thumbed-up new releases on the platform. The collection of songs is refreshed every Monday.

Also debuting today, the same listener data will be used to create the Thumb 20, a new show on SiriusXM’s Pandora Now, Channel 3. This new weekly countdown — hosted by radio and TV host Chris Booker — will showcase the 20 most-thumbed-up new releases across pop, hip-hop and R&B.

Dan + Shay, whose new single “I Should Probably Go to Bed” debuted last week, are the special guests for the inaugural Thumb 20. Additionally, A$AP Ferg will join Pandora’s Head of Hip Hop, J1, to speak to his Thumb 20 debut “Move Ya Hips” (featuring Nicki Minaj). The countdown airs every Tuesday at 6 p.m. ET, and re-airs on Wednesdays at noon ET, Thursdays at 10 p.m. ET, and Fridays at 5 p.m. ET.

“We’re excited to provide this early indicator of song performance, capturing and ranking the newest music every week,” said Alex Luke, SiriusXM and Pandora’s Senior Vice President, Digital Content. “Thumbing activity on Pandora has proven to be a great early indicator of listener affinity and now we can provide a glimpse into that, every Monday.”

On The Cover: Reba McEntire Graces ‘MusicRow Awards’ Print Issue

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Reba McEntire graces the cover of MusicRow Magazine’s 2020 MusicRow Awards issue, which highlights the nominees for this year’s MusicRow Awards. This year’s honorees will be announced virtually among multiple MusicRow platforms on Tuesday, Aug. 18, 2020.

Presenting Sponsor of the 2020 MusicRow Awards is City National Bank.

Click here to see the complete list of nominees.

This print issue also honors the Top 10 Album All-Star Musicians Awards, which will also be announced on Aug. 18, recognizing the studio players who played on the most albums reaching the Top 10 of Billboard‘s Country Albums Chart during the eligibility period.

Other content in this issue includes features on the future of live shows, a look at diversity within country music, a tribute to the late studio musician and longtime Grand Ole Opry guitarist Jimmy Capps, a deep dive into how music studios are facing the ongoing pandemic, and a roundup of music industry awards.

Multi-media entertainment mogul Reba McEntire has become a household name through a successful career that spans across music, television, film, theater and retail. The Country Music Hall of Fame and Hollywood Bowl member has won 16 ACM Awards, 15 American Music Awards, nine People’s Choice Awards, six CMA Awards, three Grammy Awards, one GMA Dove Award and was a 2018 Kennedy Center Honors recipient, in addition to multiple philanthropic and leadership honors. The Oklahoma native and Golden Globe nominated actress has 11 movie credits to her name, a lead role on Broadway in Irving Berlin’s Annie Get Your Gun and starred in the six-season television sitcom Reba.

In February 2020, Reba announced she will return to her original label home, Universal Music Group Nashville, where she spent the first 32 years of her famed career. During her time on both Mercury and MCA Records, two of the four labels that form Universal Music Group Nashville, Reba celebrated unprecedented success including 33 of her 35 career No. 1 singles and selling over 56 million albums worldwide. Her timeless hits include “Whoever’s In New England,” “Rumor Has It,” “Is There Life Out There,” “The Night The Lights Went Out in Georgia,” “Does He Love You” and more. Most recently, Reba released her acclaimed album, Read My Mind, on vinyl for the first time in celebration of its 25th Anniversary. The album includes hits such as “Why Haven’t I Heard From You” and “She Thinks His Name Was John.” Reba McEntire is set to re-release her iconic album Rumor Has It on Sept. 11 in honor of the record’s 30th Anniversary. Originally released in 1990, Rumor Has It has been certified three-times Platinum by the RIAA and features the classic hits “Fancy,” “You Lie” as well as “Fallin’ Out Of Love.”

LABEL: Universal Music Group Nashville
CURRENT ALBUM: Rumor Has It 30th anniversary edition
CURRENT PRODUCER: Buddy Cannon
CURRENT PUBLISHER: Given Music Publishing
PRO: ASCAP
MANAGEMENT: Maverick
BOOKING: WME
RECENT HITS: “Back To God,” “Consider Me Gone,” “Turn On The Radio”
AWARDS: 16 ACM, 15 American Music, nine People’s Choice, six CMA, three GRAMMY, one GMA Dove Award, 2018 Kennedy Center Honors, Country Music Hall of Fame, Hollywood Bowl Hall of Fame
RIAA CERTS TO DATE: 40M+
SPECIAL TV APPEARANCES: six seasons on Reba TV show; Annie Get Your Gun on Broadway (2001); Spies In Disguise 2019 animated movie with Will Smith; movie debut in Tremors
BIRTHDAY: March 28, 1955
HOMETOWN: Chockie, OK
INTERESTING FACTS: Grew up on a working cattle ranch; father was a three-time world champion steer roper; discovered singing National Anthem at NFR; KFC’s first female colonel; boot line Reba by Justin with Justin Boots; 10+ year clothing line at Dillard’s
MUSICAL INFLUENCES: Loretta Lynn, Dolly Parton, Tammy Wynette, Barbara Mandrell
FAVORITE RECORDS: “Jolene,” “If You’re Not Gone Too Long,” “Till I Can Make It On My Own,” “I Was Country When Country Wasn’t Cool”

Single copies of MusicRow’s 2020 MusicRow Awards print issue are available for purchase at musicrow.com for $20, and are included with yearly MusicRow memberships. Please note that issues of MusicRow Magazine’s MusicRow Awards issue can only be purchased online as the MusicRow building is currently closed to the public due to COVID-19.

Sony/ATV and TwentySeven Music Publishing Extend Partnership, Sign Jimmie Allen

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Jimmie Allen. Photo: Dustin Haney

Sony/ATV Music Publishing and TwentySeven Music Publishing, led by industry executive Barry Weiss and songwriter and producer Jenna Andrews, announced they have extended their creative partnership and signed platinum-selling singer-songwriter Jimmie Allen to a worldwide publishing deal.

Since its establishment in 2019, Weiss, Andrews, and the TwentySeven team have signed talent including Jade Thirlwall and Leigh-Anne Pinnock from Little Mix, Mike Sonier, co-writer of the global hit “July” by Noah Cyrus, songwriter and producer Black Mayo, known for crafting Platinum single “Valentino” by 24kGoldn and Gold single “Pull Up” by Lil Mosey, rising Atlanta rapper Baby Plug, and recent signing KBFR, known for his single “Hood Baby,” which has become a viral sensation.

Allen has earned No. 1 hits with “Best Shot” and “Make Me Want To” from his debut album Mercury Lane. Allen also made history with the album’s success as the first Black artist to launch their career with two consecutive No. 1 hits on country radio.

He recently released the collaboration project Bettie James, which features his fellow artists including Brad Paisley, Charley Pride, Darius Rucker, Mickey Guyton, Nelly, Noah Cyrus, The Oak Ridge Boys, Rita Wilson, Tauren Wells and Tim McGraw. The album’s “Good Times Roll” with Nelly reached No. 1 on iTunes.

Sony/ATV Chairman and CEO Jon Platt said, “Barry and Jenna continue to be first-rate creative partners for Sony/ATV and I’m eager to continue our work together. It is also an honor to support the career of Jimmie Allen, as he continues to break down barriers in music and inspire a new generation of fans.”

Sony/ATV Nashville Vice President, Creative Anna Weisband said, “We are so excited to have Jimmie Allen officially join our Sony/ATV family. His work ethic and creativity inspire us all to take his already amazing career to the next level. There is no limit on what we will achieve together with his multi-faceted songwriting and big picture thinking.”

TwentySeven Music Publishing co-founders Weiss and Andrews said, “We’re delighted to continue our relationship with our partners at Sony/ATV – Jon Platt and Jake Fain are model partners. Jimmie Allen is a generational talent that has a huge career ahead of him. He’s just getting started.”

Allen said, “I have been a fan of Barry Weiss for years. I’ve seen the great artists he has worked with and is working with. Super fired up about signing with his company. I’m looking forward to working with the entire team at TwentySeven Music Publishing and Sony/ATV and seeing what kind of timeless music magic we can create to inspire future songwriters and artists for generations to come.”

Pictured (Top row): Jacob Fain, Ash Bowers, Jenna Andrews. (Middle row): Jimmie Allen, Barry Weiss, Anna Weisband. (Bottom row): Jon Platt

Heather Luke Elevated To General Manager Of Big Machine/John Varvatos Records

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Heather Luke

Heather Luke has been promoted to General Manager of Big Machine/John Varvatos Records, effective immediately.

Most recently Senior Vice President/Head of Promotion, Luke began at BMLG in April 2018. In her new role, she will continue to cultivate relationships between rock radio and the imprint’s artist roster, which is home to Southern California rockers Badflower, Seattle singer-guitarist Ayron Jones and Chicago alt-rockers Friday Pilots Club.

“Heather Luke is the perfect executive to lead our rock division,” said BMLG President/CEO Scott Borchetta. “Her understanding of the intricacies and different iterations of rock radio and DSPs is second to none. Our quick results with Badflower having three consecutive No. 1s at Active Rock and early buzz on Ayron Jones prove it. Much deserved. Turn it up.”

“Heather is such a rock star,” said Varvatos. “She’s an incredible leader who is laser focused on delivering the big wins for the artists, label and radio.”

“I’m thrilled to take on the general manager role helping shape the future of Big Machine/John Varvatos Records,” said Luke. “We have a winning team that I am honored to be a part of. I must thank Scott Borchetta and John Varvatos for their selfless leadership, vision and support. Their passion for music and artist development is infectious. This is an incredible opportunity to make a real difference in the industry and I’m excited to get started.”