VIVIDIA MUSIC ACADEMY CHICAGO (AP) Guitarist Michael Chaney and bassist Ben Chaney are graduating from the Vivaldi music Academy this fall, but they won’t be making any major changes to their academic programs.
The Vivaldi Academy is a group of private schools, but the schools are owned by the Chicago Music Academy, which is one of Vivaldi’s largest investors.
The new graduates will be expected to make the same amount of money as the students who were in the music academy last year.
The academy will pay tuition of $8,300 for the first year, $12,200 for the second and $13,500 for the third.
The total will increase to $12.4 million this year, up from $10.2 million last year, said Vivaldi spokesman Jason Smith.
The music academy has more than 50,000 students and has an enrollment of about 20,000.
Vivaldi has invested $8.4 billion in the education of music teachers, musicians, performers and artists, Smith said.
The school says it has invested more than $3 billion in education since Vivaldi bought Vivaldi in 2009.
About 1,500 students attend Vivaldi, which also has two other private schools in Chicago, and more than 100 musicians and singers are graduates of the Vivadias two schools.
Vivadi is in the process of selling its stake in the Vivaldis Music Academy and is buying a minority stake in Vivaldi.
The deal was announced Tuesday in a letter from Vivaldi chief executive Andrew Gillett.
The three schools will have a joint venture.
The investment will help Vivaldi grow, and Vivaldi hopes to hire at least 150 more teachers, Gilletta said.
“We think the schools can help Vivaldi continue to grow and develop their student base,” he said.