(In an effort to keep you fully informed, and fully entertained, below we present today's FYI and TMI — news you need and news that's, well, sometimes needless….)
Latin Song Hall Launched
A group of music industry professionals led by GRAMMY-nominated and Latin GRAMMY-winning producer/songwriter Desmond Child and Latin GRAMMY-winning producer Rudy Pérez has created the Latin Songwriters Hall of Fame, according to a Billboard.biz report. Based in Miami, the organization's mission is to "educate, preserve, honor, and celebrate the legacy of Latin songwriters while reaching out to new composers." A board of directors, including GRAMMY winners Sergio George and Phil Ramone and Recording Academy Trustee Karen Sherry will announce 24 nominees on Nov. 27. The five inductees will be revealed on April 23 during the Billboard Latin Music Conference & Awards in Miami.
Labels Invest $4.5 Billion In A&R
According to a new report from international music industry trade organization IFPI, record companies invested $4.5 billion globally on A&R and marketing initiatives in 2011, of which $2.7 billion was spent on A&R alone or 16 percent of industry revenues. Additionally, the report found that nearly 23 percent of labels' artists were new signings. The investment in A&R is set against continued declines in global music sales, including a 3 percent decrease in 2011. In related record label news, Joel Klaiman has been named executive vice president and general manager for Columbia Records, according to a Billboard.biz report.
Minaj Raps Out Barbara Walters
Following her recent feud with fellow "American Idol" judge Mariah Carey, Nicki Minaj has dropped some super bass on Barbara Walters. According to the Huffington Post, Minaj revealed her contempt for Walters after the TV journalist responded to the Minaj/Carey debacle by calling the pink Friday star "unpredictable" during an episode of "The View." Minaj was upset that Walters made comments without consulting her first. "Am I not good enough for you to get my side" she exclaimed during the reality special "Nicki Minaj: My Truth." "I'm only good enough for you to tell people that I'm unpredictable when you don't f***ing know me!" she exclaimed. Can't all the Barbz just get along?