SiriusXM Launches Latin GRAMMY Radio Show
National Latino Broadcasting will launch "Latin GRAMMY En Vivo," a daily radio show on SiriusXM En Vivo (channel 147) produced in conjunction with The Latin Recording Academy. Hosted by Kike Posada, the show will center on the annual Latin GRAMMY Awards and Latin GRAMMY-winning and -nominated artists, with historical content and material provided from The Latin Academy's archives.
Live Nation Entertainment, Sony Issue Financial Reports
Live Nation reported a first-quarter net loss of $70 million, a wider deficit compared to a loss of $54 million during the year-ago quarter, and a 2 percent increase in revenue to $868 million for the three months ending April 30. Concert ticket sales increased 23 percent during the quarter, with sales from the North American and international markets up 25 percent and 19 percent, respectively. In other earnings news, Sony Corporation reported a loss of $5.6 billion for the fiscal year ending March 31, and a 9.6 percent decrease in sales to $79.2 billion. Sony's music division, which includes Sony Music Entertainment, Sony Music Entertainment Japan and a 50 percent stake in Sony/ATV Music Publishing, reported a 5.9 percent drop in sales to $5.4 billion, while operating income reached $450 million. (5/10)
NARM Announces New Board Members
NARM has announced the appointment of several new officers to its Board of Directors, including Vice Chairman Brent Muhle, senior marketing manager, iTunes; Secretary Craig Pape, director of music, Amazon; and Treasurer John Trickett, CEO, Immergent. RJ&R Music and Computer World co-CEO Rachelle Friedman has been reelected as chair. Other new board members include Jonathan Dworkin, head of major label relations, Nokia; and Steve Savoca, head of global content, Spotify. (5/10)