VP of Entertainment
The weight that Target throws around in music retailing--under the leadership of John Butcher--exceeds the estimated 7.8% market share the retail chain captured in 2010, down from 8.1% in the prior year and fourth behind iTunes, Walmart and Best Buy. Its powerful Sunday circular, which reaches about 40 million homes every week, ranked No. 14 in Billboard's 2011 Maximum Exposure list, rising from No. 22 in the prior year. Target has frequently backed superstar releases under Butcher's tenure. A prime example: Target's partnership with Taylor Swift (see No. 78) for the October 2010 release of her album "Speak Now." In exchange for an exclusive version of the album, industry sources say Target spent about $8 million in a TV ad campaign featuring Swift and the album. Speak Now sold 1 million units in its first week, according to Nielsen SoundScan. Butcher told Billboard in December that Target alone accounted for nearly 360,000 of those debut-week sales and that "Speak Now" sales at the chain topped 1 million within its first six months of release. That's called moving the needle.
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