Naxos Announces Agreement with Clear Channel That Enables Leading Classical Music Label to Participate in All Radio Revenue Streams

FRANKLIN, Tenn.--(BUSINESS WIRE)--Clear Channel Media and Entertainment, which has the largest reach of any radio or television outlet in America, and Naxos, the world’s leading classical music label, today announced they have entered into an agreement that aligns their business interests, focusing on accelerating the growth of digital radio and benefitting classical music fans across America.

“We are enormously impressed with Naxos’s digital distribution, which makes them an ideal partner for Clear Channel as we continue to change the industry in bold and innovative ways”

The agreement, which follows Clear Channel’s groundbreaking agreements with Big Machine Label Group and Glassnote Records, serves to further highlight that market-based solutions are the right business model to enhance the future growth of digital radio and benefit both artists and listeners.

As part of the new agreement, Naxos will bring their unparalleled genre expertise to programming “Classica,” the digital classical station on iHeartRadio, Clear Channel’s industry-leading digital radio platform.

Naxos http://www.naxos.com/, the world's leading classical music label is known for recording exciting new repertoire with exceptional talent. The label has one of the largest and fastest growing catalogues of unduplicated repertoire available anywhere with state-of-the-art sound and consumer-friendly prices. The catalogue includes classical music CDs and DVDs as well other genres such as jazz, new age, educational and audiobooks.

Naxos of America is the largest digital distributor of independent classical music. It supplies a catalog of over 30,000 albums from hundreds of classical labels, including 6,500 titles on its own labels, to digital download stores and mobile outlets worldwide.

“As Naxos celebrates its 25^th anniversary, I can think of no better way to inaugurate the next 25 years than a partnership with Clear Channel that helps align the business interests of artists, labels, and broadcasters, while benefitting music fans across America,” said Jim Selby, Chief Executive Officer of Naxos of America. “Naxos has long been a leader in the digital music space and we have found a perfect partner in Clear Channel that will help to grow digital radio as well as enable artists to reach a new generation of classical music lovers.”

“We are enormously impressed with Naxos’s digital distribution, which makes them an ideal partner for Clear Channel as we continue to change the industry in bold and innovative ways,” said Bob Pittman, Chief Executive Officer of Clear Channel. “Mozart, Brahms, Beethoven, Bach, Chopin, Haydn—these composers wrote the original power chords, and their work is as vital today as when it was first written. Our agreement with Naxos further demonstrates that the market-based business model we unveiled this past summer makes sense for labels, artists, broadcasters, and fans.”

About Naxos

Since 1987, Naxos has redefined how classical music is presented and marketed. Innovative strategies of recording exciting new repertoire with exceptional talent have enabled the label to develop one of the largest and fastest growing catalogues of unduplicated repertoire available anywhere—currently over 2,500 titles—with state-of-the-art sound and consumer-friendly prices. Visit www.naxos.com.

About Clear Channel Media and Entertainment

With 239 million monthly listeners in the U.S., Clear Channel Media and Entertainment has the largest reach of any radio or television outlet in America. Clear Channel Media and Entertainment serves 150 cities through 850 owned radio stations.

The company’s operations include radio broadcasting, online and mobile services and products, live concerts and events, syndication, music research services, and independent media representation. The company’s radio stations and content can be heard on AM/FM stations, HD digital radio channels, SiriusXM Satellite Radio, on the Internet at iHeartRadio.com and on the company’s radio station websites, on the iHeartRadio mobile application on iPads and smartphones, and used via navigation systems from TomTom, Garmin and others. Clear Channel Media and Entertainment is a division of CC Media Holdings, Inc. (OTCBB: CCMO), a leading global media and entertainment company. More information on the company can be found at clearchannel.com, clearchanneloutdoor.com and ccmediaholdings.com.

Like us on Facebook at facebook.com/iHeartRadio