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THE 2022 BILLBOARD POWER LIST REVEALED

2021’s boom in digital music assets have shaped Billboard’s biggest list of the music industry’s leaders this year – including 25 of its top executives.

Despite the havoc Covid 19 has wrecked on businesses worldwide, the business behind recorded music has continued to flourish. We’ve seen all three major music groups’ profits soar, musician’s catalogs being sold for 9-figure sums, and artists hitting major streaming numbers. Following suit, new types of investors are pouring record sums into the business behind music, reshaping the recording industry’s power dynamics.

Music’s new investors, all power players in their own regard, are placing billion-dollar bets on music. Billionaire investor Bill Ackman purchased 10% of Universal Music Group, KKR bought Kobalt Music Royalty Fund II, Blackstone bought a stake in Hipgnosis Song Management, and Apollo Global Management committed $1 billion dollars to fund Harbour View Equity Partners to buy recording and publishing rights assets.

Not all that glitters is gold for the music industry, however. As it comes to no surprise, the pandemic has crippled the music touring industry – leaving fans eager to return to concerts and festivals, and music agents scavenging to find revenue for their clients. In a lucrative deal, Creative Artists Agency (CAA) announced plans to acquire ICM, United Talent Agency (UTA) acquired the United Kingdom-based Echo Location Talent Agency in an attempt to keep up with WME and CAA, and son of hollywood legend Lew Wasserman, Casey Wasserman launched “Wasserman Music” after acquiring Paradigm. For the sake of all the artists and professionals whose livelihoods depend on music touring, and all the fans, we hope that the return of live music is soon.

Through it all, artist managers have been working hard to find creative ways to keep revenue streams coming in for their artists. Capitalizing on the digital space and utilizing companies such as Tiktok and Triller, they have done a fantastic job at keeping their artists busy and fans entertained. Red Light Management founder Coran Capshaw kept his roster of bands touring throughout the summer, and SB Projects founder, Scooter Braun rewarded his artists and staff with $50 million dollars in equity after selling his Ithaca Holdings to South Korea’s HYBE for $1.05 billion dollars in April 2021.

The digital age of music, including music streaming platforms; a relatively new vertical in the music business, has provided artists income while creating the ability to release music without touring. Companies such as Spotify, Tidal, Apple Music, Youtube Music, Soundcloud and Audiomack have been able to capitalize on the pandemic’s effects on the music business. E-Sports, streaming fitness classes such (Obe, Barry’s Bootcamp, SoulCycle and Melissa Wood Health), TikTok, Triller, and games such as Fortnite, have all been on the winning side of the pandemic as well.

To see the full list; click here

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