Congress has extended the entertainment tax incentive to Broadway. In addition to the film and television industries, live theater investors will also now be able accelerate deductions and avoid paying income tax on returns that are less than their initial investment.
Congress has approved increases to the National Endowment for the Arts and the Department of Education's Arts in Education program. The NEA budget as increased $2 million to $147.949 million, and the Arts in Education budget also increased $2 million, to $27 million.
Gloria and Emilio Estefan have received the Presidential Medal of Freedom. Emilio was recognized for creating a new American sound and using song to celebrate cultures. Gloria was recognized as a musical powerhouse who has sold millions of albums.
The Copyright Royalty Board has increased the royalty rates for Internet radio stations from 14 cents per 100 streams to 17 cents per 100 streams, effective January 1. The rate applies to Pandora as well as other Internet and satellite broadcasters, including iHeartRadio and SiriusXM.
A new recording studio has opened in Wellington. Liberated Studios was opened this summer by Ian Carey, Shanti Ellis, and Brad Holland. The 1,500-square-foot studio features two rooms and high-end equipment not found in any other studio in Palm Beach county.
The AFM has demonstrated against Warner Bros. for allowing a non-union recording session to take place on their property. Warner, a signatory to AFM agreements, allowed Cinema Scoring to hold a recording session at its Burbank lot. Local 47 and the Los Angeles County Federation of Labor have authorized strike sanctions against Cinema Scoring, as well as Collective Media Guild and Peter Rotter Music Services.
The Dallas Opera has received gifts from the Eugene McDermott Foundation and Margaret McDermott totaling $2 million. Margaret McDermott has requested that the CEO position be renamed the Kern Wildenthal General Director and CEO in honor of the former chairman of the board of directors.
The Cleveland Orchestra has ended the season with a surplus for the third consecutive year. Admissions at Severance Hall rose slightly, and attendance at Blossom Music Center rose by six percent. Paid admissions at the Miami residency rose by nearly ten percent.
The Indianapolis Symphony ended the season with a $900,000 surplus, its third consecutive annual surplus. Ticket sale income rose 8 percent and ticket subscriptions increased by 24 percent.