ARTISTdirect Records, the record label co-venture of ARTISTdirect, Inc and Ted Field, have entered into a North America distribution agreement and worldwide license arrangement with BMG.
Under the terms of the agreement, BMG Distribution will distribute the label's releases in North America, and BMG will license ARTISTdirect repertoire in territories throughout the world. BMG will also acquire a minority stake in ARTISTdirect Records and provide certain funding for the label. Specific terms of the deal were not disclosed.
"I am very excited about ARTISTdirect aligning itself with what is probably the best distribution machine in North America," commented Ted Field, CEO, ARTISTdirect. "We highly value the expertise BMG has throughout the world and know it will play a significant role in our ability to break new artists."
Prior to helming ARTISTdirect, Field co-founded Interscope Records, one of the industry's most successful music companies where he was instrumental in breaking artists such as Eminem, No Doubt, Nine Inch Nails and Tupac Shakur.
"BMG is pleased to participate in the growth of ARTISTdirect and excited to join forces with a creative leader of Ted Field's caliber and track record," said Bob Jamieson, President and CEO, BMG North America. "This agreement will compliment our A&R activities in markets around the world."
Added Pete Jones, President and CEO, BMG Distribution and Associated Labels, "We are very excited about this relationship with Ted Field and ARTISTdirect. His reputation, talent and taste make him a premier music executive. BMG looks forward to helping Ted and his team realize the great success, which they are uniquely capable of achieving and to a long and prosperous association."
The first CD release under this agreement will be Fast, the debut by singer/songwriter Custom that is due out in early 2002. Subsequent releases by ARTISTdirect Records, including NAAM Brigade, The Blood Brothers, and Pokafase, among others, will also be on the schedule for next year.