Industry News
Forbes Magazine reports that there are 946 billionaires. Twenty-eight of those billionaires reside in Florida, including south Florida residents John Kluge ($9.1 billion, Metromedia), Micky Arison ($5.8 billion, Carnival Cruise Lines), James Moran ($2.4 billion, auto dealerships), H. Wayne Huizenga ($2.1 billion, AutoNation), Jorge Perez ($1.8 billion, home building), and Fred Deluca ($1.5 billion, Subway).
Countess Henrietta de Hoernle has donated $500,000 towards the new $9 million Spanish River Community High School theater. The 840-seat theater will allow the school to expand its music, dance, and drama programs.
Florida Atlantic University master's student Israel Charles has made Billboard's top-10. His final project for his commercial music class last fall included the Rachel Brown song, Let's Fall in Love Again, which he engineered, arranged, and produced. The song debuted at number 7 on Billboard's Hot R&B/Hip-Hop Singles Sales chart and later peaked at number 5.
Recording
A ruling by the Copyright Royalty Board significantly increases the royalties paid to musicians and recording labels for songs streamed digitally online. By 2010, the rate of $.08 per song streaming is scheduled to more than double.
In a payola settlement, Clear Channel, CBS Radio, Entercom Communications, and Citadel Broadcasting have agreed to pay $12.5 million and provide 4200 hours of free airtime to independent record labels and local artists.
Sirius Satellite Radio revenues doubled in the fourth quarter of 2006, versus the same period in 2005. They still reported a loss of $245 million, but expect to have more than 8 million subscribers and annual revenues of $1 billion by the end of 2007.
EMI has rejected Warner Music's $4.1 billion takeover offer. This is the second time EMI has rejected Warner's offer, and appears to be holding out for a higher offer.
Los Angeles recording musicians, disagreeing with the AFM's current video game scoring agreement, have formed the Professional Musicians Guild. Recording musicians last formed a guild competing with the AFM in 1958 over a disagreement in motion picture contracts. Those musicians reunited with the AFM in 1960.
Symphony
The New World Symphony has received an anonymous $90 million donation towards the cost of its new Frank Gehry-designed home. NWS is expected to received $45 million in local government support toward this $200 million project. They are expected to break ground in 2007.
Nielsen SounScan lists classical music as the fastest-growing genre in 2006. Classical album sales (including downloads) rose by 22.5 percent in 2006.
The Metropolitan Opera's movie theater simulcast of Tan Dun's opera, The First Emperor, drew an audience of 33,000 worldwide, prompting encore showings. The success of the simulcasts has exceeded the Met's expectations, and it is anticipated that more simulcasts will be announced in the coming months.
Palm Beach Opera General Director William Ryberg has resigned after only eight months on the job, citing a difference of opinion with the Chairman of the Board on priorities and a timetable.
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