MINNEAPOLIS--(BUSINESS WIRE)--Best Buy Co., Inc. (NYSE:BBY) and Best Buy Children’s Foundation (BBCF) today announced a $1.24 million donation to the GRAMMY Foundation® in support of their ongoing partnership and joint effort to preserve music education in high schools across the country. The Best Buy contribution comes through a variety of corporate initiatives and exceeds the company’s 2010 goal by more than a quarter of a million dollars. Best Buy will present their gift to the non-profit organization at this year’s annual GRAMMY Foundation’s GRAMMY® Career Day held on Feb 9.
Also during GRAMMY Career Day, the GRAMMY Foundation will recognize the leading consumer electronics retailer for their longstanding relationship and ongoing support. The Foundation will present Best Buy with a ceremonial GRAMMY Signature Schools Award symbolizing the successful partnership.
“Music is a foundational piece of Best Buy’s DNA and our commitment to the music industry extends well beyond the products we sell in our store,” said Paula Prahl, senior vice president, Communications, Public Affairs, and Corporate Responsibility, Best Buy Co., Inc. “We salute all of the great work the GRAMMY Foundation is doing to advance the music industry, especially giving young people access to music education.”
"We are deeply appreciative of Best Buy’s remarkable financial support of GRAMMY Foundation music education programming," said Neil Portnow, president/CEO of The Recording Academy® and the GRAMMY Foundation. "These funds will enable us to reach more students with direct support for high school music programs while providing insight and information on careers in our industry."
In addition to promoting music appreciation and education for today’s youth, Best Buy and the GRAMMY Foundation have teamed up on other important programs including “Sound Matters,” a campaign to communicate the importance of hearing health and hearing loss prevention among young music fans, and “Give Harmony,” a holiday fundraising campaign. Best Buy will continue its support of the Foundation for the coming year, discussion for new initiatives are already underway.
GRAMMY Career Day is one of the many GRAMMY in the Schools® programs that provides high school music students with the opportunity to interact with music professionals representing many careers within the industry. Through this program students can discover the myriad of careers that are available to them. To learn more about the events taking place during the GRAMMY Foundation GRAMMY Week, visit: http://www.grammy.org/grammy-foundation/news/grammy-foundation-announces-grammy-week-activities.
About the GRAMMY Foundation
The
GRAMMY Foundation was established in 1989 to cultivate the
understanding, appreciation and advancement of the contribution of
recorded music to American culture — from the artistic and technical
legends of the past to the still unimagined musical breakthroughs of
future generations of music professionals. The Foundation accomplishes
this mission through programs and activities that engage the music
industry and cultural community as well as the general public. The
Foundation works in partnership year-round with its founder, The
Recording Academy, to bring national attention to important issues such
as the value and impact of music and arts education and the urgency of
preserving our rich cultural heritage. Campbell's Labels For Education
program is proud to be the official education partner of the GRAMMY In
The Schools programs. For more information, please visit www.grammyintheschools.com.
About Best Buy Co., Inc.
With
operations in the United States, Canada, Europe, China, Mexico and
Turkey, Best Buy is a multinational retailer of technology and
entertainment products and services with a commitment to growth and
innovation. The Best Buy family of brands and partnerships collectively
generates more than $49 billion in annual revenue and includes brands
such as Best Buy; Best Buy Mobile; Audiovisions; The Carphone Warehouse;
Future Shop; Geek Squad, Jiangsu Five Star; Magnolia Audio Video;
Napster; Pacific Sales; and The Phone House. Approximately 180,000
employees apply their talents to help bring the benefits of these brands
to life for customers through retail locations, multiple
call centers and Web sites, in-home solutions, product delivery
and activities in our communities. Community partnership is central to
the way we do business at Best Buy. In fiscal 2010, we donated a
combined $25.2 million to improve the vitality of the communities where
our employees and customers live and work. For more information about
Best Buy, visit www.bby.com
About Best Buy Community Relations
As
a Company, and through our Best
Buy Children’s Foundation, we work with nonprofit organizations to
support programs that provide opportunities for youth. Our goal is to
provide positive experiences that will help them to excel in school,
engage in their communities, and develop leadership skills. We also
support national organizations that provide essential social services,
such as the United Way and American Red Cross, to improve the vitality
of the communities where our employees and customers live and work. We
know that each community where we operate is unique. That's why we
created a community grants program allowing Territory teams to decide
how Best Buy Children's Foundation funds are used to impact their local
area. The company also encourages local volunteerism by providing
charitable gifts to organizations where employees volunteer.