What has been known as the National Music Centre will now be called Studio Bell with the announcement today of a 12-year, $10 million partnership between Calgary's NMC and Bell Canada.

The partnership supports the construction of the new home of the centre in Calgary's East Village, set to open in spring of 2016.

"Partnering with Bell supports our national vision and ability to connect with music lovers from coast to coast to coast," said Andrew Mosker, president and CEO of the National Music Centre in a release.

"Studio Bell will be a technologically innovative national hub celebrating Canada and the power of music. We are confident the Studio Bell partnership positions us to deliver on our mission, vision and commitment to honour Canada's music story."

Canadian musician Randy Bachman, a long-time supporter of the NMC appeared for the announcement and took part in a lively jam. He then presented to the centre his Gibson Les Paul guitar on which he wrote the hit American Woman, which will become part of the exhibit when the centre opens.

The announcement brings the total money raised toward the centre to $125 million. The centre's fundraising goal is $168 million.

The 22,000-square-foot National Music Centre will be a creative hub for music innovation, include several recording studios, host musical acts from around the world in a 300-seat theatre, as well as display more than 2,000 musical artifacts from Canada's music history.