Watch where the money's movingmain
The opera singer who suffered agent abuse in last week’s leaked email has left Universal Music to join Jack Maistroianni at IMG. Two more singers are talking of quitting Universal, leaving the corporation’s agency wing in a parlous state ahead of an impending merger.
When artists leave, finances take a big hit. ‘That’s £300,000 ($465,000) in commissions going out the door,’ said one insider when Joyce DiDonato’s agent, Simon Goldstone, took her and 19 others out of wobbly IMG to the medium-sized London firm, Intermusica. An even bigger sum went walkies when Gustavo Dudamel switched agencies – twice this year, so far.
These shifts, usually infrequent, are happening now on an almost weekly basis. They are a sign that the classical music business is in total flux, morphing beyond recognition.
More to come.