Local and Industry News
The Justice Department is investigating Live Nation over antitrust suspicions.
They are investigating whether Live Nation's contracts restrict venues' abilities to work with other promoters, and whether Live Nation is using its network of company-controlled venues and Ticketmaster services to subsidize artist payments to a level other promoters cannot afford.
Maria Todaro has been named interim general director of Florida Grand Opera for the 2023-24 season, following the resignation of Susan Danis. Todaro began her career as a mezzo-soprano before moving into stage direction. She is currently the general director of the Hudson Valley International Festival of the Voice.
The Luciano Pavarotti Foundation is constructing a $25-30 million American home in Naples, Florida. The Theater in the Garden will feature a 900-seat hall with horseshoe-style seating and an outdoor wide-screen viewing area. The venue is currently in the fundraising stage and a site in Naples has not yet been identified.
recording
TikTok is shutting down its $1 billion creator fund at the end of the year. Creators are being encouraged to participate in the new Creativity Program, which requires videos longer than a minute and where payouts will be based on views and engagement metrics.
Spotify will no longer pay royalties to artists whose tracks have less than 1,000 streams a year. While only .5 percent of Spotify's royalty pool will be affected, it is estimated that this will shift $40 million from the smaller artists to those with significantly more streams per year.
HBO Max has lost 700,000 subscribers in the past quarter. Despite this, streaming revenue was up five percent thanks to a large bump in advertising revenue. Prior to this drop, subscriber levels had been relatively flat for the past year.
Disney Plus has grown to 150 million subscribers. Streaming revenue has grown 12 percent, but the streaming service still lost $387 million in the last quarter. However, that is a vast improvement from the $1.4 billion lost a year ago.
SAG-AFTRA has reached an agreement with Hollywood studios, ending a nearly four-month strike. Actors will receive an immediate seven percent raise, and background actors will receive an eleven percent increase. All will receive four percent raises next year, and 3.5-percent raises in the following year. There will also be a $40 million a year bonus fund on top of the normal streaming residuals, and use of artificial intelligence will require informed consent and compensation.
symphonic
The DCINY Orchestra has won their first union agreement after four years of negotiations. Wages will rise 13.5 percent over the life of the agreement, and musicians will now receive principal pay and doubling and compensation for streaming of concerts. There will also be a defined hiring list and a transparent hiring procedure.
Musicians of the Virginia Symphony have ratified a four-year agreement. Wages will rise three percent in the first year, 3.5 percent in the second, and four percent in each of the final two years. The Symphony will also explore conducting virtual preliminary auditions as a way to increase the pool of candidates for openings.
Utah Symphony musicians have ratified a four-year agreement. Wages will rise four percent in the first year, 2.5 percent in the second, three percent in the third, and four percent in the final year. Musicians will now have up to six weeks of paid parental leave, and birth parents will receive an additional six weeks of paid medical leave.
The Toronto Symphony has signed a long-term recording partnership with Harmonia Mundi. This is the label's first major agreement with a North American orchestra. The first album will be released next year, and two additional albums are planned to be recorded in the next two years.
