Cary Sherman Appointed Chairman And CEO Of RIAA

Cary Sherman Appointed Chairman And CEO Of RIAA

Cary Sherman Appointed Chairman And CEO Of RIAA
Following a previous report, the RIAA has appointed Cary Sherman as chairman and CEO of the organization effective Sept. 1. Sherman, who joined as general counsel in 1997 and has served as RIAA president since 2001, succeeds Mitch Bainwol, who resigned his post on Aug. 8 to become president and CEO of the Alliance of Automobile Manufacturers. Additionally, Mitch Glazier has been named RIAA's senior executive vice president, a role in which he will continue to lead the group's activities on Capitol Hill, among other responsibilities. (8/9)

Label Executive Roundup
GRAMMY-winning producer Don Was has been named chief creative officer of EMI Music's Blue Note Records, according to Billboard.biz. Was will be responsible for identifying and developing talent for the label, as well as producing records for a number of Blue Note artists. Sony Music Entertainment has named Edgar Berger president and CEO of international for the label. Based in London, Berger will report to Sony Music CEO Doug Morris and will be responsible for the label's non-U.S. global business. Additionally, Universal Republic Records has appointed Rob Stevenson to the newly created position of executive vice president of A&R. Based in New York, Stevenson will report to president and CEO Monte Lipman and co-president and COO Avery Lipman and will be responsible for expanding the label's A&R activities across a variety of genres, including pop and rock. (8/9)

Live Nation Posts 2Q Profit, Australia Live Music Sector Soars
Live Nation
reported second-quarter net income of $13.3 million, a substantial increase compared to a loss of $32.8 million during the year-ago quarter, and a 23 percent revenue increase to $1.56 billion, exceeding analysts' forecast of $1.31 billion for the three months ending June 30. Live Nation's U.S. concert attendance increased 13 percent to 8.9 million during the second quarter, and overall attendance grew 6 percent to 13 million. In related news, Australia's live music industry generated $1.4 billion in gross ticketing revenue, a 22.6 percent increase and all-time high for the country, according to trade body Live Performance Australia. Attendance grew 13.5 percent with contemporary music concerts achieving the biggest gain with a 43.1 percent increase in revenue to $708 million and more than 50 percent increase in attendance. (8/9)

Email Newsletter