Contract signed

The transcript discusses the agreement between recording companies and Petrillo, resulting in contracts that generate approximately $3,000,000 annually for the Federation Treasury. This fund is exclusively allocated for the advancement of musical culture.

What did the recording companies agree to?

• To lower their prices

• To Petrillo's terms

• To increase their production

• To hire more musicians

How much revenue is expected to be generated annually from the recent contracts?

• $4,000,000

• $3,000,000

• $1,000,000

• $2,000,000

Which organization benefits from the revenue of the contracts?

• The Recording Academy

• The Federation Treasury

• The Artists' Union

• The Music Producers Guild

What is the primary purpose of the funds generated from the contracts?

• To support local artists

• To advance musical culture

• To invest in technology

• To build new studios

What is not a use for the funds from the contracts?

• Supporting music education

• Funding music festivals

• Advancement of musical culture

• Building new concert halls