Management
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Journey‘s new manager, Mike Kobayashi, confirmed late Tuesday he was “just hired,” taking over from player-managers Neal Schon and Jonathan Cain after a roller-coaster year.
The classic-rock fixture sold 296,000 tickets and grossed $31.9 million on its 2022 arena tour, according to Billboard Boxscore, doubling the revenue pace of its previous headlining tour, in 2017, which grossed $31.7 million over 67 shows.
But the band ended 2022 with an internal squabble over an American Express card: Lead guitarist Schon sued keyboardist Cain last month for refusing to give Cain access to an account representing “millions in Journey funds”; Cain responded that Schon was “running up enormous personal charges” on the account.
The lawsuit, pending in California Superior Court, is one of several legal disputes involving Cain and Schon, one of the band’s founders, and other Journey members in recent years. In 2020, the two musicians sued drummer Steve Smith and bassist Ross Valory, accusing them of improperly trying to take control of the band name; Valory filed a counter-complaint, and the lawsuit ended with a 2021 settlement in which Smith and Valory left the band.
And after Schon and Cain trademarked names of many of the band’s hits, such as “Wheel In the Sky,” former frontman Steve Perry filed an action in U.S. Trademark Court in September to stop the process. Perry cited a long-running band partnership agreement that requires Schon and Cain to get his permission to make these kinds of trademark moves.
Kobayashi, who also manages fellow road warriors Def Leppard, did not respond to requests for further comment on his new position with Journey.
Journey hasn’t had a new hit in decades, but the band remains a top-tier touring act and occasionally scores high-profile synchs in shows like The Sopranos and, last spring, Stranger Things, the Netflix series that revived Kate Bush‘s “Running Up That Hill” on the charts.
LONDON — Less than a year after being appointed chief executive of the Association for Electronic Music, Silvia Montello is exiting the global trade body to become CEO of AIM, the London-based Association of Independent Music.
Montello takes up the new post on Jan. 31. She will succeed Paul Pacifico, who leaves AIM later this month to head up the Saudi Music Commission, where he will be responsible for developing and championing the music sector in the Kingdom of Saudi Arabia.
In April, the London-based Montello was appointed the first female CEO of the Association for Electronic Music (AFEM). The New York-headquartered non-profit organization, founded in 2013, represents the interests of over 250 electronic music companies across 25 countries.
Montello’s appointment as CEO of AIM — which represents more than 1,000 U.K. indie labels, artists and music companies, including Beggars Group, Domino, Warp and Ninja Tune — comes on the back of another strong year for independent labels and artists in the United Kingdom. According to labels trade body BPI, independently released music made up 29% of the U.K.’s recorded music market in the first 10 months of 2022, up from 27% for the whole of 2021 — when total recorded music sales reached £1.3 billion ($1.6 million) in the U.K. — and an increase of 30% from 2017, when independents claimed a 22% share.
Independently released albums that have topped the U.K. albums chart this year include Arctic Monkeys’ The Car, Wet Leg’s self-titled debut, Fontaines D.C.’s Skinty Fia and rapper Central Cee’s 23.
“The growth of the indie sector has been fantastic to see and what’s really exciting about it is the rise in grass roots independent artists who are self-releasing and creating their own teams and finding ways of being able to build their own fanbase,” Montello tells Billboard.
Despite the growth, it remains difficult for many DIY and independent artists to make a decent living from streaming alone, she says, echoing well-publicized discontent from the creator community over low returns from music streams.
In her new role as CEO of AIM, Montello — who has been an active member of the U.K. trade body for several years — says she will continue the organization’s push for an “equitable and fair” split of streaming revenues but will also focus on educating and training independent artists and businesses about how they can monetize their art in the fast-changing music ecosystem.
“Looking outside of the reliance on just the major streaming platforms is going to be more of a significant conversation and trend going forward,” she says, citing the metaverse, Web3 and growth of neighboring rights revenues as potential avenues for artists to maximize their future earning potential.
“We always need to be looking forward and making sure that we’re trying to anticipate where there may be new opportunities for our members, but also anticipate where there may be challenges arising and making sure that we’re up to speed with everything,” says Montello.
Prior to heading AFEM, Montello held senior executive roles at the U.K. arm of Universal Music Group, where she worked as director of catalog marketing between 2006 and 2010, and BMG, where, according to her LinkedIn profile, she served as group senior vp of recordings operations and integrations from 2014 to 2016. She was subsequently appointed senior vp of operations at the then-Kobalt-owned artist services company AWAL, a post she held from 2017 to 2020.
More recently, Montello held senior posts at music rights data platform Blokur and Audio Network, a U.K.-based creator and publisher of music for film, television and digital content. Since 2011, she has also acted as CEO of Voicebox Consulting, which has worked with music companies and charities that include BMG, PIAS and the Teenage Cancer Trust.
Montello co-founded and is director of #remarQabl, an electronic music label services and publishing company that champions female, LGBTQ+ and underrepresented artists, and is a trustee for U.K. charity Help Musicians.
In a press release announcing Montello’s appointment, AIM chair Nadia Khan called the executive a “fantastic leader” whose “extensive industry background, contact base, business development skills, passion for diversity and inclusion, and vision for the future bring renewed leadership to AIM.”
Association for Electronic Music co-founders Ben Turner and Kurosh Nasseri congratulated Montello on what they called a “landmark appointment” for both her and the genre of electronic music.
“It is amazing to see an organization as influential as AIM looking to our sector and actually to our own trade body AFEM for their next leader,” Turner and Nasseri say in a statement. They thanked Montello for “her valuable input into AFEM in her short time with us” and said the organization has begun the process of recruiting a new CEO to succeed her.
Montello says she looks forward to “really getting under the skin of AIM” and doing all that she can to make the independent music business flourish, help artists avoid burnout and add to the “richness and diversity” of music coming out of the United Kingdom.
“Because if we don’t have that from the independent sector, where a lot of the creativity comes from the grass roots, the margins and underrepresented groups who have got something to say,” she says, “then all music lovers are going to miss out.”
Few artist development stories in the past few years have been as impressive as that of Tems, the Nigerian singer-songwriter whose arresting voice and infectious melodies have wormed their way into the mainstream in her steady, insistent way. Since self-releasing her debut EP, For Broken Ears, in October 2020, Tems has become an in-demand voice for some of music biggest hitmakers, a status that accelerated after her feature on Wizkid’s “Essence,” the song that broke through and established Afrobeats as a genre to be reckoned with on the American charts last summer.
Since then, she’s collaborated with the likes of Drake, Beyoncé and Future, signed to RCA for the release of her second EP, If Orange Was a Place, last September, covered Bob Marley’s “No Woman No Cry” for the Wakanda Forever soundtrack and landed Grammy nominations in back to back years, one for best global recording for “Essence” in 2022; two more for best melodic rap performance and best rap song at the upcoming 2023 Grammys for her feature on Future’s “Wait For U” and another for her guest spot on Beyoncé’s Renaissance. (And, if not for an inexplicable Grammy rule that meant she was ineligible for best new artist due to the “Essence” nomination, even though she was just a featured artist, she would almost certainly be up for that top four honor this year. But we digress.)
This week, Tems’ still-nascent career notched another milestone, as she became the the No. 1 artist on Billboard’s first-ever year-end U.S. Afrobeats Songs Artists ranking, landing four songs in the top 10 of the year-end chart, led by “Essence” but also including her song “Found” feat. Brent Faiyaz and two songs from her debut EP, “Higher” and “Free Mind,” impressive for a two-year-old project in an era when music moves so fast. And that steady ascent to stardom has earned her manager, Muyiwa Awoniyi, the title of Billboard’s Executive of the Week.
Here, Awoniyi breaks down how he’s helped guide Tems to impressive heights, and the strategies that have gotten them to this point. “I have always felt that if you focus on what is important, what feels urgent will take care of itself,” he says. “In this case, focusing on the actual music and her brand appeal, instead of the charts, allowed us to tell an authentic story that people could relate to.”
This week, Tems landed four songs in the top 10 of Billboard’s first-ever year-end Afrobeats chart, the most of any artist, including the No. 1 song, her feature on Wizkid’s “Essence,” which gave her the No. 1 spot on the year-end US Afrobeats Songs Artists ranking. What key decisions did you make to help make this happen?
I have always felt that if you focus on what is important, what feels urgent will take care of itself. In this case, focusing on the actual music and her brand appeal, instead of the charts, allowed us to tell an authentic story that people could relate to. Handling those things properly allowed us to attract people instead of chasing them and as a result, we built organic bonds with so many people as a team. Proper product placement, which in music means the right ears hearing the music, was a very key focus as we moved forward. It was important to utilize our network optimally and align with those that saw our vision — God has been extremely kind on that front. I have met some amazing people who have played parts in making sure Tems’ music gets heard, and the by-product of that has led to so many of her songs achieving great things such as charting on the U.S. Afrobeats Billboard chart and the Billboard Hot 100 as well. All that being said, though, I do my best and leave the rest to the Almighty.
Two of her songs in the top 10, “Higher” and “Free Mind,” are from her 2020 EP For Broken Ears. How have you kept the momentum from that project going over the past few years, particularly in an era when music moves so fast?
The first time I heard “Free Mind,” I actually wept. I knew that song was special and I feel everyone that has heard it probably feels the same way. The nature of the song preserved itself while we, as a team, focused on marketing the record and the EP as a whole. As a manager, being aware of your talent’s unique selling point is very essential and when we finished For Broken Ears we knew we had something special. It was music for those who want to feel. Which is why records like “Higher” got sampled by ATL Jacob for the “Wait for U” track with Drake and Future. I still feel some records will catch on, “Ice T” especially. As for music moving fast? There is a difference between McDonalds and soul food.
The other two songs in the top 10, “Essence” and “Found” feat. Brent Faiyaz, are collaborations. She’s also had some high-profile collaborations with Drake, Future and Beyoncé. How have strategic collaborations helped boost Tems’ career and find new fans?
Collaborations have been very important. I actually feel if artists removed their limiters, some of the most innovative sounds can come from collaborations. Regarding Tems, I wouldn’t say these were “strategic.” Yes we are aware of the exposure collaborating with such huge superstars would bring, but it has to be organic. It has to feel good. It has to feel right. That’s the only way you get records that transcend borders. If not, you just have another song. We have been approached by basically the whole music industry but the collaborations we took, and have taken on, felt right. Expect more.
Tems’ rise has coincided with a growing global appreciation of African music and African artists. How have you guys been able to capitalize on that, and what has that meant for the opportunities you’ve gotten?
When you manage one of the leading artists from our region, you tend to see it all. So capitalizing for us has always been based on where we were, where we are, and where we are trying to go. This is why we started off by not signing a record deal immediately. You cannot fully capitalize if you do not own and owning For Broken Ears has been such a huge blessing. God is good.
Tems has also been nominated at the Grammys for the second year in a row. What does that mean for you guys, and how can you use that to further Tems’ career?
It’s a blessing. It makes us know that we are on the right track. We try not to make accolades define us in any capacity but the feeling of gratitude is always prominent. In terms of furthering her career, this is another page of her story, so we have to be aware to enjoy the moment, but not dwell on it. There are more pages in the book of Tems and we have to keep moving forward ’til the book ends. It’s really just staying focused and putting the work in while keeping God first in all things.
What have you learned about management during your career?
I’ll summarize it with this sentence: I have learned how important it is to gain equity within the hearts of human beings. One must master the art of selflessness. It takes you further than your ego ever would.
Where do you go from here to continue building Tems’ career further?
At the moment? Album mode. We have been working on this for quite a while. It’s her first baby and we all know how important it is for her. So all focus goes into that and then we allow God to take care of the rest. Definitely expect more from us at [my company] The Leading Vibe. We are always working.
Eric Church and his longtime manager John Peets have teamed to launch a new all-inclusive endeavor, Solid Entertainment.
The new company centralizes Church’s various ventures, while also doubling down on the infrastructure behind his span of business endeavors, including his new SiriusXM Channel Outsiders Radio, his upcoming Nashville venue/bar/restaurant Chief’s and his in-house merchandise operation as well as his fan club, the Church Choir.
Marshall Alexander takes on the role of president for Solid Entertainment, and will serve as Church’s representative for Chief’s. Meanwhile, Brandon Schneeberger will oversee day-to-day management for Church. Shane Allen and Kimsey Kerr have been added to launch and run Outsiders Radio, which officially launched on Nov. 4. Bryan Chisholm will lead digital marketing and Hayley Harris has been appointed to manage Church’s fan club. Matt Wheeler continues to oversee Chief merchandise.
“I’m incredibly proud of the path we’ve taken to get to this point in all our careers and to have experienced so much of it together,” Church said via a statement. “As our business continues to expand in different areas, it was important to me to establish a team of people that is focused on this growth. None of us got into music for the business of it, yet it’s part of how we are our most creative selves: through finding those other avenues for connection. It’s humbling to be in a position where such incredibly talented people want to focus on the future together.” Peets added, “I am very proud to take our professional relationship to the next level. We have been working creatively together since 2004, and Solid Entertainment represents a fresh look and a continued commitment to all that we have built. I look forward to adding to this foundation with an eye towards all that is to come with the ongoing expansion of Eric’s empire.”

Bose Ogulu received the award for manager of the year from her son and star client, Burna Boy, at the 2022 Artist & Manager Awards, which were presented at London’s Bloomsbury Big Top on Thursday (Nov. 17). The event, presented in association with beatBread, is organized by the Featured Artists Coalition (FAC) and Music Managers Forum (MMF) and celebrates creative and commercial successes across the artist and management community.
With deep roots in the Lagos music scene, Ogulu has overseen Burna Boy’s rise to global stardom. Co-founding the pioneering Spaceship Collective in 2020, Ogulu has become a leading light in advocating for African artists to maintain greater control and ownership of their repertoire. Sheniece Charway, artist relations manager at YouTube Music, joined Burna Boy in presenting the award.
Becky Hill was named artist of the year. Hill had a top five hit on the Official U.K. Singles Chart in 2022 – “Crazy What Love Can Do,” a collab with David Guetta and Ella Henderson. She won a BRIT Award for best dance act in February. Her award was presented by her manager Alex Martin and tour manager Amanda Barker, alongside music legend Nile Rodgers and Hipgnosis founder Merck Mercuriadis.
Awards for Breakthrough Artist and Breakthrough Manager were also presented, with the former going to Beabadoobee and the latter to Callum Reece at One House for his success with the likes of Eliza Rose, Sherelle, cktrl and Mwanjé.
ABBA Voyage received the Innovation award. The album at the center of the project topped the Official U.K. Albums Chart and reached No. 2 on the Billboard 200. It received a Grammy nomination for album of the year on Tuesday Nov. 15. ABBA co-founder Björn Ulvaeus sent a video message to Svana Gisla, Ludvig Andersson and Baillie Walsh, the producers and director behind ABBA Voyage. They were presented with the award by Imogen Heap and Utopia Music’s Roberto Neri.
Lifetime achievement awards, dubbed Artists’ Artist and Managers’ Manager, went to songwriter and performer Tim Burgess and manager Martin Hall, respectively. Hall has managed Manic Street Preachers, The Script and Wet Leg, among others.
Burgess received his award from Brix Smith and PPL Chief Executive Peter Leathem. Hall’s award was preceded by video messages from Manic Street Preachers, The Script’s Danny O’Donoghue, Wet Leg and Sony Music CEO Rob Stringer, who said: “How many managers can say that 25 years ago they were taking a new band to No. 1 in the album charts, and here they are again, in 2022, managing a new band to No. 1 in the album chart. That longevity speaks volumes for you, Martin.”
Indeed, Manic Street Preachers’ This Is My Truth Tell Me Yours topped the Official U.K. Albums Chart in 1998. Wet Leg’s Wet Leg topped that same chart this year. Moreover, Wet Leg was nominated for four Grammy Awards, including best new artist, on Tuesday.
The ongoing challenges surrounding live music were raised in a joint opening address by the FAC’s CEO, David Martin, and Annabella Coldrick, chief executive of the MMF.
“There’s no point pulling any punches,” Martin said. “For the majority of artists, the past few years have been pretty hard. We’ve had Brexit, a pandemic, and now a cost-of-living crisis. It’s been tough to make a living from music, and it remains tough.”
“Without addressing these issues, the next generation will really struggle to break through – and that will have ramifications for every promoter, record label, music publisher and tech company here tonight,” Coldrick added.
The show also recognized the work of Music Declares Emergency as 2022’s Industry Champions for driving momentum towards more environmentally sustainable practices – particularly in live touring. Presented by Sam Lee, the award was accepted by co-founder Lewis Jamieson and director of creative strategy and artist spokesperson Fay Milton.
The ceremony was hosted by Doc Brown (aka Ben Bailey Smith) and featured live performances by London-based pop-punk artist GIRLI and rapper FelixThe1st.
Here’s the full list of winners at the 2022 Artist & Manager Awards in association with beatBread:
Artist of the Year: Becky Hill
Manager of the Year: Bose Ogulu
Artists’ Artist: Tim Burgess
Managers’ Manager: Martin Hall
Breakthrough Artist: Beabadoobee
Breakthrough Manager: Callum Reece
Team Achievement: Groundworks
Entrepreneur: Krept & Konan
Innovation: ABBA Voyage
Pioneer: Carl Cox
Writer/Producer Manager: Red Light Management
Industry Champion: Music Declares Emergency
Amid a broader economic downturn, Endeavor — the parent company of assets like agencies WME and IMG, sports league UFC, events firm On Location and online gambling platform OpenBet — is pausing new hires through the end of the year.
Speaking to The Hollywood Reporter by phone while attending an RBC Capital Markets investor event, Endeavor president Mark Shapiro said that the firm will put in place a hiring freeze until 2023 but noted that the Beverly Hills-based conglomerate will be backfilling positions. The Endeavor executive emphasized that no broader cost-cutting would be instituted and travel/expenses, bonuses and spending would not be subject to review at this time for the company’s roughly 8,000 employees.
“The state of the business is strong, but we have to be responsible given the time of the year and the national economic environment,” Shapiro told THR.
The Endeavor exec stressed that the move was being made from a position of strength, as the firm — unlike other Hollywood giants — has been insulated from economic headwinds like those impacting advertising-reliant companies. And the time frame for the hiring pause, as the holiday season approaches, arrives at a typically slower cycle for major agencies, which tend to mostly close up shop in the last couple weeks of the year.
“We need to really be prudent, we’re in — or walking in — to a recession,” Shapiro said about the hiring freeze during a panel moderated by RBC’s Kutgun Maral. “There’s a lot of fear out there, there’s a lot of fearmongerers. And we just need to keep a lean cost-structure, frankly. As tight as we can have it. And hiring over the holidays does no good, you’re just giving them vacation anyway.”
Shapiro added during the panel that, “at a time like this of uncertainty, we need to be conserving cash and just working on the balance sheet.” The Endeavor exec forecast that the focus in 2023 would be more free cash flow — a profit metric showing an ability to fund operations without outside financing — and expanding margins in each business unit.
But the hiring freeze does arrive as Warner Bros. Discovery, Disney, Paramount, NBCUniversal and others are instituting belt-tightening measures, including cutting back on spending and staff reductions. Disney CEO Bob Chapek warned in a memo to staff on Nov. 11 of “limiting headcount additions through a targeted hiring freeze” while layoffs have been ongoing at the David Zaslav-run Warner Bros. Discovery, impacting multiple divisions including CNN, whose chief, Chris Licht, forecast in late October that restructuring will “accelerate” and will result in layoffs and budget cuts.
On Nov. 10, Endeavor disclosed its third-quarter earnings, with its WME and IMG representation unit seeing revenue fall year-over-year to $388 million from $664 million — due to the sale of 80 percent of Endeavor Content to South Korea’s CJ ENM as part of a deal with the Writers Guild — even as the core agency business made strides. Meanwhile, the company’s owned sports properties, like UFC, saw revenue gain from $288.5 million a year ago to $402 million in the third quarter this year and its events unit stayed about even year-over-year with $440 million in revenue for the frame.
Overall, citing foreign exchange rate changes, Endeavor posted a loss for the quarter of $12.5 million compared to a gain of $63.6 million in the same time frame in 2021. During an earnings call, Endeavor chief Ari Emanuel noted “our business continues to perform well despite the macro headwinds,” and touted comedy bookings as well as growth in music touring, experiences and demand to attend live events.
“Spending habits have shifted, but our company has a presence at every point on the purchase chain,” Emanuel added. “During COVID people were buying stuff, and post-COVID, they are more focused on experiences, and we are the benefit of that side of the equation.”
Since Jan. 3, the first day of trading this year, stock in Endeavor has fallen about 34 percent, from 34.81 a share to 22.92, while the New York Stock Exchange Composite Index has dropped about 10 percent.
This article was originally published by The Hollywood Reporter.
Elvis was angry — and broke.
In a 1970s showdown in Las Vegas with Colonel Tom Parker, Elvis Presley fired his longtime personal manager — only to have Parker respond by presenting the singer with a multimillion-dollar bill for unrecouped expenses that went back decades, from the cost of gasoline for Elvis’ first trip to the Louisiana Hayride radio show to fuel for the Lisa Marie, his private jet named after his daughter.
In his hit film Elvis, director Baz Luhrmann depicts the confrontation — a true story, according to Alanna Nash, author of the definitive biography The Colonel: The Extraordinary Story of Colonel Tom Parker and Elvis Presley — and in his dramatization of the episode, a distraught Elvis lashes out at his father, Vernon, blaming him for his lack of oversight: “You are my business manager! You’re supposed to be taking care of this!”
Elvis should have had the guidance of one of the advisers profiled here.
Members of the 2022 class of Billboard’s Top Business Managers — nominated by their firms and peers and chosen by our editors — have guided artists and executives through the pandemic. But now, they face an array of challenges not seen in years.
“Financial instability, the economic downturn, persisting inflation, higher borrowing costs triggered by the increase in interest rates, cybersecurity and retention of key talent” — all are among the most pressing issues facing business managers, says Maria del Pilar Lopez, a director with Citrin Cooperman.
The availability of COVID-19 vaccines and boosters has allowed touring to resume. But shows continue to be rescheduled due to the pandemic, adding to the financial pressures on artists already dealing with production costs driven higher by inflation, rising insurance premiums and more.
The ongoing strength of the seller’s market for music catalogs promises windfalls for some but comes with caveats, says Sean Granat, a partner with CohnReznick. “Some of my clients have been inclined to want to sell their publishing rights for a quick infusion of cash,” he says. “If a client wants to move forward with this course of action, I make sure that they are aware of what they would be giving up in terms of control, future revenue and the effects a sale would have on their estate.”
Business managers deal with hard numbers but also the unpredictable emotions of their clients. As Michael Kaplan, managing partner with Miller Kaplan, says, “We are experiencing a glut of FOMO — fear of missing out — especially related to unorthodox investments and an excessive willingness to absorb risk” in the crypto, meme stock and non-fungible token (NFT) spaces.
Then there are the clients with the more unusual investment plans, from garlic products to dinosaur skulls. “I did recently have a client feel they were becoming too recognizable in their yellow sports car — so they had it painted bright purple,” says Kristin Lee, founder of business management firm KLBM. “They said it was an investment in their security.”
Fasbender Financial Management founder/president Tina Fasbender adds: “I’ve been doing this for 35 years — and ‘unusual’ is getting weirder and weirder.”
Iván AlarcónCo-founder/CEO, Vibras Lab
Alarcón says that despite “the rise in touring costs [and] shortage of equipment and personnel” making tours hard to “budget, plan accurately and execute” this past year, Vibras Lab has served as CFO for Latin music’s biggest stadium and arena tours for acts like Bad Bunny, Grupo Firme and Karol G. The company also played a part in closing the collaboration between J Balvin and Air Jordan, as well as renegotiating Karol G’s publishing deal with Kobalt. “The music-catalog sales boom has made us a firm that looks deeper into our artists’ catalogs,” says Alarcón. “What we recommend to somebody that is planning to sell their catalog is to make sure that the investment return of the net amount received from the sale of the catalog is higher than the royalties received from the catalog.
Iván Alarcón’s Vibras Lab acted as CFO for Bad Bunny’s two world tours.
Kevin Winter/GI
Belva AnakwenzePrincipal owner, Abacus Financial Management Group
For Abacus, the big story of the past 18 months has been getting its live-entertainment clients back to work, says Anakwenze, noting that the sector’s continued volatility in the wake of the pandemic has required diligent engagement between Abacus and the artists it works with. The full-service firm also handles business management, tax preparation, virtual CFO services and more, with Anakwenze emphasizing the education of creatives. (Along with some of her professional peers profiled here, Anakwenze declines to name musicians she advises, citing client confidentiality.)
Most Pressing Issue: “With several festivals being shut down early for safety concerns, many festivalgoers are looking for event refunds. This impacts artists’ ability to get paid at the contracted amount, but yet artists have hard production costs that have to be paid.”
Claudia ArcaySenior vp, Loud and Live
Loud and Live’s Arcay actively helped artists return to the road. As touring resumed, she sought to reestablish demand for live shows. “The pandemic has been extremely detrimental to the industry, and artists were some of the most affected,” Arcay says. Within the last 18 months, Loud and Live curated 350 shows and sold over 2 million tickets across the United States, Canada and Puerto Rico. It also produced and managed shows for Camilo, Farruko, Ricardo Arjona and others.
Most Pressing Issue: “The incremental costs of touring, which are likely at an all-time high. Factors [for this] include the impact of inflation [and] increased fuel and general production costs — staffing, lighting, sound, equipment rental, etc. — many of which are up more than 30% versus pre-pandemic levels.”
Jesús Arredondo Luis Del RioHeads of finance booking, Cárdenas Marketing Network
This year, Del Rio managed “all financial aspects with the artist’s camp, venues, vendors and service providers” for Bad Bunny’s two world tours and all financial matters for the U.S. run of Daddy Yankee’s farewell swing. Aside from packing venues, CMN also has a hand in building them: Arredondo provided financial analysis for the new Coliseo Live Bogotá in Colombia, including management of the construction budget.
Most Unusual Client Investment: “After the pandemic, unusual investments became the norm,” says Del Rio. “From jewelry to art to even acres of land in unexpected locations.”
Louis BarajasCo-founder/CEO, Lab Business Management FirmAngie BarajasCo-founder/COO, Lab Business Management Firm
Under its husband-and-wife leadership, LAB Business Management Firm has continued to expand in 2022 with the addition of its U.S.-LATAM (Latin America) Tax Group, which works with and provides wealth and business management advice to up-and-coming artists. The Barajases also have hired more in-house Latino professionals to help with clients including Mau y Ricky, Yandel and Nicky Jam. Louis’ role in providing financial consumer advocacy on a national level to underserved communities will be reflected in a 13-episode PBS TV series he will co-host titled Opportunity Knocks in November. He says many hedge fund managers have offered to acquire LAB’s client catalogs in 2022, and “planning for the intelligent use of those funds has opened many new opportunities to our artists.”
Investment Tip: “We believe 2023 will be a good opportunity to purchase real estate at discounted prices from the overinflated values we have seen in the last couple of years,” says Louis.
Harrison BaumanFirst vp of investments, Bauman Wealth Management
Bauman sees his management company as the “financial quarterback to our clients’ financial needs” and notes catalog sales and the return of touring as the biggest developments currently affecting them. In addition to working closely with singer-songwriters to sell their music catalogs, Bauman provides long-term planning advice, including facilitating the purchase of a first home.
Most Pressing Issue: “Inflation, the rise of interest rates and budgeting for the future. We work closely with our clients to manage their day-to-day budgeting needs and … to build additional sources of passive income.”
Tyson BeemCEO, Gelfand Rennert & FeldmanChris Fazzolari Todd Kamelhar John Menneci Melissa Morton Rick Mozenter Mike SkeetManaging directors, Gelfand Rennert & Feldman
In 2022, 25-year GRF veteran Beem stepped into the company’s CEO role formerly held by Todd Gelfand, who’s still active in the firm’s leadership as a managing director and continues to focus on his clients. Beem will stay the course that has enabled GRF to deliver for its clients for 55 years: staying on top of evolving business opportunities and revenue streams — of late, potential catalog sales and the resumption of touring — as well as managing risk and keeping up with changes in tax regulation. “We can’t only be concerned about gross income. We have to remember that controlling costs is just as important to determine the viability of opportunities,” says Beem.
Marius BercoviciJustin KobayVenicia MesteyBruce SeckendorfPartners, LL Business Management
From its offices in New York and Los Angeles, LL represents Lil Nas X, Timbaland, Lauv, producer Omer Fedi and other creators — and Kobay says many young artists come to the table already savvy about means of diversification and passive income streams. “They get it,” he says of Gen Z performers, who often prioritize socially conscious investing and bankable skills over college degrees. Some clients also prize real estate as an investment, but “that doesn’t mean you should buy 10 Airbnbs before you own a primary residence.”
Proudest Moment: The current world tour by Lil Nas X is a “first of its kind,” says Kobay. “He’s a pioneer. He has opened doors that had traditionally been closed to African American and gay artists. Even when there was resistance, he [persevered] and has made this industry a much more welcoming place for all.”
LL Business Management has overseen branding deals for Lil Nas X with vitaminwater, Coach, Gucci, M&M’s and Google.
Tim Mosenfelder/GI
David BolnoName partner, NKSFBMichael KarlinFounding partner, NKSFBMatthew SegalLarry TylerPartners, NKSFBHarley NeumanFounding partner of Neuman + Associates, A Division of NKSFBMichael OppenheimFounding partner of NKSFBGO, A Division of NKSFBDavid WeiseFounding partner of David Weise & Associates, A Division of NKSFBJaime Masuda Beth Sabbagh Rob SalzmanPartners of David Weise & Associates, A Division of NKSFB
The number of NKSFB’s honorees reflects mergers that expanded the firm’s reach. A Focus Financial company, NKSFB is home to advisers for artists including Beyoncé, Eminem, Steve Aoki, Scarlett Johansson, Ryan Murphy, Ellen DeGeneres, Coldplay, Common, deadmau5, Usher and The Weeknd. NKSFB also has guided major transactions like Bolno’s lead role in the $1 billion acquisition/merger between Ithaca Holdings and Hybe America, as well as his assistance in the integration of Hybe Korea and Hybe America, and Karlin navigated and assisted in closing a nine-digit sale of a client’s business, including advanced tax planning. In addition, says Salzman, “our firm’s partners focused on exploring outside-the-box pandemic programs,” including the Shuttered Venue Operators Grant program.
Julie BoosOwner/business manager/chairman, FBMMDuane ClarkOwner/business manager/president, FBMMJamie Cheek David Boyer Carmen RomanoOwners/business managers/vps, FBMMChris HughesBusiness manager, FBMM
Artists are still weathering the major shift in touring economics, including supply chain issues and cost increases related to equipment and production personnel, as well as overcrowded, pandemic-driven tour planning. These elements “have clients feeling the squeeze this year,” Clark says. However, NFTs and the metaverse have recently offered promising new opportunities. “I can’t say it has had a big effect on our clients’ income today,” says Clark, “but I can see how that day is coming.”
Most Unusual Client Investment: “We don’t view any investments as unusual, just potentially more specific to the interests of each particular client,” says Clark. “So we gather information on the specific idea, along with measuring to see if it would fit well, holistically, with the client’s current plan.”
Joseph Callaghan Mark Carter Bruce Kolbrenner Lahteefah “Lah” Parramore Thomas Smith Simon WintersPartners, Prager Metis
Citing Prager Metis’ presence as “one of the first accounting firms in the NFT space,” Parramore says she and her colleagues provide clients with the “thought leadership they need to navigate that new form of income.” (The company opened a virtual office on metaverse platform Decentraland in late 2021.) A Miami-based CPA whose Prager Metis clients include indie labels and entertainers, Parramore joins her peers to help artists with business activities such as, on the touring side, “managing last-minute costs because of the post-COVID-19 environment, whether it’s shipping of the staging or the production.”
Deedra Carroll Director of touring, Tri Star Sports & Entertainment Group Bret Guest Business manager, Tri Star Sports & Entertainment Group
Carroll and Guest, previously recognized, respectively, on Billboard’s R&B/Hip-Hop Power Players and Country Power Players lists, advise chart-topping clients but keep their roster confidential. A 17-year veteran of Tri Star, Carroll has been the firm’s director of touring for nine years, overseeing staff and client affairs from the company’s Los Angeles and Nashville offices. Her role involves liaising with artist managers, booking agents, legal advisers and promoters and creating tour budgets to ensure profitable runs. Since joining Tri Star in 2015, Guest has advanced from senior accountant to his current position, where he advises clients from breakout artists to major tour headliners.
Adam CaswellDirector of business management, Fineman West
Since joining Fineman West in 2020, Caswell has helped the long-standing accounting firm leverage its expertise in real estate, retail, hospitality, joint ventures, taxes and investments to lure a growing list of entertainment clients. Aerosmith’s Steven Tyler, Maroon 5’s Sam Farrar, producer J.R. Rotem (Gwen Stefani, Jason Derulo, Rihanna) and singer-songwriters Josh Kelley and Kim Petras are just a few who have turned to Caswell to create diverse income streams. “We’re building custom business management solutions from the ground up,” says Caswell.
Advice to Clients: “Everyone on their team — business manager, manager, attorney, wealth manager and estate attorney — needs to be on the same page to make sure they get the most value out of [a] deal and that their interests are protected.”
Aerosmith’s Steven Tyler is among the artists whom Adam Caswell advises at Fineman West.
Araya Doheny/GI
Lauren Cooper Mark Kaplan Sharon Sullivan Errol Wander Victor WlodinguerPartners, Citrin CoopermanMaria del Pilar LopezDirector, Citrin Cooperman
In the past year, Citrin Cooperman has grown geographically, with new offices in Chicago and Florida, as well as an expanded presence in Southern California. It also bolstered its expertise with the addition of music valuator Massarsky Consulting, “establishing an in-house music economics and valuation practice within reach for our business managers and their music clients who may be interested in catalog sales,” says Lopez. Citrin Cooperman’s clients include Jack Antonoff, The Strokes, Joan Jett & The Blackhearts, Pablo Diaz-Reixa (aka El Guincho), Father John Misty and Tenacious D. The return of touring and catalog sales have strengthened clients’ finances. “As business managers,” says Lopez, “we are involved in tracking and overseeing all income streams and costs on behalf of our clients. It is our responsibility to provide them with meaningful financial data and adequate business structures that allow them to make informed financial decisions.”
Jose CruzBusiness manager, Aura Music
For Cruz, who oversees business operations for Puerto Rican artist Ozuna’s label, Aura Music, planning for the future is as important as planning for the next single. The company’s pandemic-era focus on data analysis lets it “react and respond with more agility” to volatile markets and also informs strategic decisions about the emerging worlds of NFTs and catalog sales. “The challenge is to evaluate all the aspects of these offerings and choose the right buyer/partner,” he says. He describes NFTs as “one of the trendiest and newest income-generation streams during the past year. As for any new trend, we highly encourage our customers to take the time to get familiar with their markets of interest and understand the risks and pros and cons of every business decision they want to make.”
Most Unusual Client Investment: “A startup garlic-based products manufacturing company in the U.S.”
Lester DalesDirector, Dales Evans
Helping clients “restart their businesses after COVID-19” has been a priority for London-based Dales Evans, which handles the finances of Dua Lipa and Queen, among others. “Many tours that had been postponed have rolled out along with a number of new outings. These tours are facing many new challenges relating to the constriction of the supply chain and cost increases,” he says.
Most Pressing Issue: “The current financial climate — both as it affects the price of touring and other activities with our clients’ businesses — and protecting their assets against political and financial volatility.”
Kella Farris Stephanie Self Catherine MoorePartners, Farris Self & Moore
Although Nashville-based Farris Self & Moore keeps growing, welcoming additional clients and employees over the past 18 months, the company maintains “a boutique feel,” according to Self. “FSM prides ourselves on our ‘future work,’ ” Self says. “Making sure our clients are set for life is a primary goal.” As for the present, she adds, “Client income is back to pre-COVID-19 levels, though expenses have risen significantly. We are seeing a shortage of tour personnel availability — and the world needs more buses.”
Influencing Client Income: “Catalog sales are still happening and are life-changing for writers, although not at the fast pace we saw in 2020 and 2021,” says Self. “We are able to use the favorable tax treatment and time value of money to stabilize an income stream after a catalog sale versus the unstable income flow of [performing rights organizations] and publishing mechanical/digital/streaming income. The [value] gap between owning master [recording] rights and owning the publishing rights is still very significant in favor of the master, and we’d like to see that become more equitable.”
Tina FasbenderFounder/president, Fasbender Financial Management
Business management is more than “handling taxes and paying bills,” says Fasbender. “I think of it more as reality therapy.” Guiding clients through the economic impact of COVID-19 and adjusting to “new normals” have been the most important tasks for her firm. Carefully managing diminished cash flow and finding alternative streams of income were both critical, and catalog sales have proved to be life preservers for many. “Keeping [clients] calm, positive and hopeful, while making sure they understood the need for curbed spending and thoughtful decisions on money and health, was priority one,” she says, emphasizing the necessity of effective rapport-building and communication. “It’s about them having the confidence that you will guide them through the minefield of money and their art,” she says.
Most Unusual Client Investment: “Parking lots and abandoned lots near proposed new venue/stadium sites. ‘Art’ purchases that somehow don’t really seem like what most might define as art. I’ve been doing this for 35 years, and ‘unusual’ is getting weirder and weirder.”
Colin FinkelsteinFounder/CEO, COFINK Business Music Management
COFINK “is a boutique business management company” that provides “a high level of personal service,” says Finkelstein. “The continued growth of music master and publishing sales has made it essential that we have the skill set to be able to provide financial advice on valuations and a general business sense to these events as they present themselves.” Other factors influencing client income? “Artists are back touring, and Web3 presents new opportunities, new channels for music distribution — including the monetization of new social media platforms — and increased synch and branding opportunities post-COVID-19 [lockdowns].”
Most Pressing Issue: “The proliferation of different revenue sources provides added risk to an artist to make sure that all earnings are maximized and all cash is collected. This provides a special challenge to make sure that systems are in place to track and monitor the vast array of revenue opportunities.”
W. Shane GlassPresident, The Colony Group
Because many of its music clients operate through S corporations and limited liability companies, The Colony Group was able to implement techniques that significantly reduced their federal taxes in 2021 and 2022, says Glass. He also helped clients navigate the sales of catalogs and rights to create liquid assets. On what’s most affecting the income of his clients, Glass says “the return of touring is helping bring back steady cash flow to many musicians. The music catalog sales have [also] helped create significant liquidity that changes the way artists budget.”
Lesson From the Pandemic: It is “an unfortunate reminder to clients that they should be paying themselves first by putting aside savings, investing and working toward building a net worth. While my singer, songwriter, recording and touring artists earn significant sums of money, they also have significant lifestyle costs to cover.”
Reggie GoodenCo-founder/managing partner, 360 Business Management
After working for other firms, Gooden and partner Josh Martin opened 360 Business Management in August. Working with creatives such as Grammy Award-winning producer HARV, songwriter Cory Henry and actors Bella Thorne and Frankie Shaw, Gooden says he and Martin “definitely go all the way for our clients, helping them out in concierge ways” that include branding management and brokering, and even providing management support when “shake-ups” left those clients in temporary need. “The landscape can be very tricky for a creative who doesn’t really have a grasp on business and what the music business entails,” says Gooden. “This is more rewarding for me now to help people and advise them and make sure they’re self-empowered.”
Sean GranatPartner, CohnReznick
Granat is proud that CohnReznick has become “an industry leader in the environmental, social and governance [ESG] space, introducing a range of new services to help private companies and investors meet stakeholder needs by implementing comprehensive ESG strategies.” To reinforce these goals, the firm launched its Gamechanger awards this year, with entertainment and hospitality clients among the inaugural event’s winners. “My clients continue to see the business and societal value of ESG-focused investments, which were very profitable over the past few years,” he adds. During the pandemic, CohnReznick also helped clients obtain forgiveness for Paycheck Protection Program loans and receive relief through programs such as the Shuttered Venue Operators Grant.
Most Pressing Issue: “Income streams, notably for touring musicians, dried up considerably during the pandemic, so I’m working with clients to help them make the most judicious decisions about their finances going forward.”
Becky HarrisPresident, Huskins-Harris
For Harris, whose clients include Kane Brown, Chris Young and CeCe Winans, success means adapting to all of the revenue sources available in the rapidly changing music industry. “All of my clients are expanding into other sources of revenue. Podcasts, videogaming, catalog sales [and] NFTs are all things we’ve explored in 2022 for a variety of clients,” Harris says. “Our industry has always been in a state of constant change, but social media and digital platforms have obviously fast-tracked every part of our business, meaning new income streams and ways to monetize them are coming our way at every turn — which, in turn, seems to make every day a new learning experience.”
Proudest Moment: “During an unprecedented — at least since 2008 — economic downturn, all of my clients have not only managed to increase their business and financial portfolios, they also continue to give back, contributing substantially to causes that personally matter so much to them. And I’m proud that my firm plays a role in helping them do so.”
Becky Harris of Huskins-Harris counts Kane Brown among her clients.
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Jordan L. JosephsDirector of business management and family office group, SingerLewak
With artists hitting the road to make up for lost time, SingerLewak has been helping clients, who include Grammy-winning producers and TikTok influencers, navigate complicated state and local taxation issues, in addition to working on the “merger of a major publishing company” and the “acquisition of a powerhouse podcast company.” Josephs points to current economic uncertainty — and the reality that most artists can’t tour indefinitely forever — as a reason the firm is steering its clients toward “alternative opportunities to generate evergreen passive income.”
Most Pressing Issue: “Not knowing what the future of a career holds, strategic financial planning and reporting has always been pressing in music and entertainment. Now throw in a turbulent economy heading for recession, volatile markets, high inflation and fear. Our advice on wealth preservation and accumulation is more important than ever. Even tougher is working with younger, newly minted clients walking into this atmosphere and helping them plan.”
Nicholas JuddCo-founder/CEO, leftbrain
Business management firm leftbrain has focused on providing its clients with innovative technology “to improve efficiency and transparency,” which gives it an edge, according to Judd, who’s particularly excited by RYLTY, a recently launched leftbrain subsidiary designed to detect and fix mistakes in royalty reports. “We have found thousands of royalty errors and recovered millions in catalog value on behalf of our clients,” Judd says. “With the growing trend around catalog acquisitions and frequent headlines surrounding stolen [and unclaimed] royalties, we feel [RYLTY] will be a true game-changer not just for our clients, but the industry as a whole.”
Most Pressing Issue: “Finding a safe, effective way to incorporate technology as a way to improve efficiency and transparency is by far the most pressing issue that firms are facing — whether they want to admit it or not.”
Michael Kaplan Managing partner, Miller Kaplan Michael Kane Partner, Miller Kaplan
Kaplan and Kane handle some of the biggest names in music, including Britney Spears and the Michael Jackson estate, and they advise their clients “to stay in it for the long game and don’t sacrifice your catalog because of a short-term problem,” Kane says. That bit of wisdom proved particularly pertinent the last two years. “Many clients were forced to reinvent their business model during the COVID crisis,” says Kaplan. “Predictable revenue streams such as touring, merchandise and meet-and-greets were obviously not available.”
Most Pressing Issue: “We are experiencing a glut of FOMO — fear of missing out — especially related to unorthodox investments and an excessive willingness to absorb risk in the crypto, meme stock and NFT spaces,” says Kaplan. “Recently, it is more important than ever to caution your clients to be frugal and risk-averse when they see unregulated commodities increase 10,000% virtually overnight.”
Matt KlarbergManaging director, Mai Capital
“It’s a great feeling when all your clients listen to your strategic financial planning,” says Klarberg, citing acts such as Kaskade, Tierra Whack, R&B artist Quincy and artist-DJ Alec Monopoly. Klarberg calls touring “the financial centerpiece” for many of his clients and has focused on associated costs from production to insurance, all of which have increased since live music’s return. “It’s important to have a plan in place and make adjustments along the way,” he says, suggesting monthly or weekly financial check-ins. “Navigating the past two years and coming back stronger and smarter than before has really amplified the importance of business managers in sports and entertainment.”
Josh KleinManaging partner, TKG Business Management
As it took on new clients, TKG doubled in size last year, the firm reports, while focusing on catalog organization and royalty collection, among other services. Helping manage budgets for A-list clients like The Chainsmokers, Big Sean, Logic, Normani, Kelly Rowland and others, Klein says the rise of inflation over the last 12 months has meant exercising as much patience as possible, especially when investing in touring, real estate and production. “We’re telling our clients to save your money so you can take advantage of opportunities when they present themselves as the markets correct,” he says.
Most Unusual Client Investment: “I think if you ask anyone about NFTs, most will question a client’s spending hundreds of thousands of dollars on a jpeg. While it’s definitely unusual, I think NFTs are the future and we need to get educated on blockchain and how they will be part of everyday commerce and society.”
Kristin LeeFounder/managing director, KLBM
The artists, athletes and actors that Lee advises have weathered the upheaval of the past three years by following Lee’s biggest piece of advice: “Plan for the worst and hope for the best.” That mantra has prepared them financially to occasionally focus on interesting investments, she says. “We’re playing through a period of massive disruption that presents us both chaos and opportunity,” Lee says. “We’ve built new business models and refined old ones to ensure our clients can be focused on one thing — making great art.”
Most Unusual Client Investment: “I did recently have a client feel they were becoming too recognizable in their yellow sports car — so they had it painted bright purple. They said it was an investment in their security.”
David LevinManaging director, DL Business Management, a division of Adeptus Partners
Levin merged his firm with Adeptus Partners in 2019 but maintained an intimate business model. “The boutique nature of our practice has allowed us to focus on all the details,” he says, citing John Legend, Chrissy Teigen, Hailey Bieber and Imagine Dragons among his clients. Imagine Dragons embarking on its Mercury world tour and Legend opening a Las Vegas residency highlighted “a major boom to recapture that important revenue stream” from live performances, Levin says. The key, he says, is to “save not only for the proverbial rainy day but if or when the music stops.”
John Legend and wife Chrissy Teigen are longtime clients of David Levin of DL Business Management, a division of Adeptus Partners.
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Matt LichtenbergPartner, Level Four Business Management
“Navigating and implementing the post-COVID changes in tax legislation have been an incredible hurdle and challenge for us and, I’d imagine, all business managers,” Lichtenberg says. “The amount of time and resources we’ve had to commit to implement this has been truly unprecedented.” Lichtenberg and his colleagues have also worked with NFTs, although “the jury is still out on how viable they are.”
Most Pressing Issue: “With rapidly rising interest rates and inflation out of control, the financial markets are at best erratic. Our job as gatekeepers is to help our clients navigate and guide them through these uncertain times.”
Mike MerrimanPartner/president, Parr3Bryan GottDirector of business management, Parr3
Parr3 works to ensure its entertainment clientele — which includes Louis Bell, Clairo, LVRN Records, 6LACK, Alison Wonderland and Kehlani — remains financially secure in both the short and long term. “Our advice to clients now is effectively the same as it has always been,” says Gott, who was promoted to director of business management at the firm earlier this year. “First build a foundation for the short term, then turn your sights on the future. Set money aside now to ‘pay’ your 60-year-old self enough to cover the lifestyle you want them to live. Do it while your income supports it and lock that wealth away in a ‘vault’ where it’s held for the long term in diverse and modest investments.” That has been possible as many clients have “scored big wins in other high-risk areas like early-stage investing and the blockchain,” says Gott, and continue to benefit from royalty revenue and the return of the touring industry.
Most Pressing Issue: “We’re aggressively pushing for more transparency and accuracy in the way royalties are accounted to artists, producers and songwriters,” says Merriman. “The technology is ready, but the current standards come from an ancient era, and labels and publishers aren’t allocating resources to do this better. In the meantime, we go ‘royalty hunting’ every quarter and keep finding more money for our clients.”
Enrique NarcisoPresident, ERN Advisors
“The sale of their catalogs has become one of the most important decisions a top artist must make,” says Narciso, who works with Shakira, Maluma and Latin music leader WK Entertainment and WK Records. Over the past 18 months, he has advised clients on the multimillion-dollar transactions, providing them with “not only the right valuation analysis but also an investment strategy that will provide the same or better cash flow returns into the future.” In addition, some artists are becoming more involved in entrepreneurial activities. This shift toward business development, he says, requires skill sets more in tune with investment banking.
Glenn NordlingerBusiness manager, The Nordlinger Group
As business manager for the Jonas Brothers, Demi Lovato, Marc Rebillet, The Revivalists and Grace Potter, Nordlinger has gotten to know the music business from different genre perspectives. As live performances resume, he says, “We have an extremely crowded field of artists on tour resulting in short supplies of everything: crew, buses, trucks, drivers, audio, video, lighting, staging, backline gear, et cetera. This has driven up tour costs significantly. Add to that increased fuel prices, inflation and fewer ticket sales due to the competitive landscape. Never has the role of business management been more important in budgeting and monitoring tour costs than this fall.”
Most Unusual Client Investment: “One artist made an investment in a small mom-and-pop popcorn company that may get gobbled up by a Fortune 500 company. Multiple puns intended.”
Kerry O’Neil Alvin Hagaman Jr. Legina Chaudoin Cheryl Harris Lillian WilliamsPartners, O’Neil Hagaman
As clients of Nashville-based O’Neil Hagaman return to the road, the pandemic is still affecting touring. Shortages prevail, requiring “a significant amount of additional planning and coordination to successfully hire and deploy the vendors and personnel necessary for great live performance,” says O’Neil, and ongoing supply chain challenges, market saturation and inflation “require the artist advisory team to work closer than ever before to achieve the artist’s goals.” On a positive note, O’Neil says that despite rising interest rates, “the appetite for acquiring intellectual properties from an array of investors has not slowed down.”
Most Pressing Issue: “Given rising costs on a multitude of fronts, the most pressing concern for our touring artists is the ability of the fans to afford going to concerts. Our artists have always been sensitive to this issue — increasing costs have made this goal much more challenging.”
Tony PeyrotManaging partner, Dunn Pariser & PeyrotMark PariserPartner, Dunn Pariser & Peyrot
During a period of consolidation in the business management field, Dunn Pariser & Peyrot has steadfastly remained independent. “During the pandemic … we’ve been able to grow by maintaining a focus on servicing our clients and also helping them grow,” said Peyrot, noting the firm’s 25% growth in staffing over the past 18 months. DP&P has suggested that clients consider moving out of environmentally unpredictable, high-tax California into more tax-friendly music cities such as Nashville or Miami, while also encouraging them to be cautious about investing in emerging markets such as NFTs. “We can’t just say ‘no.’ We have to go down the rabbit hole a bit and tap into their excitement about it and be active listeners,” he says.
Most Pressing Issue: “Having a very good staff that’s educated and proactive,” says Peyrot. “One of the biggest things facing all business managers is that there is still high demand for qualified individuals and a relatively short supply.”
Robert PolayFounding partner, Polay + Swann
During the past two years, Polay + Swann has continued “to tighten up our cloud-based ecosystem in order to increase accuracy, efficiency and to create an environment for our remote force to prosper,” says Polay, whose Atlanta-based firm works with clients such as Killer Mike, Manchester Orchestra, Keith Sweat, Blxst and others. “The suspension of touring with the subsequent inflation of touring costs associated with the return of touring has brought wisdom and maturity to our client’s financial activities,” says Polay, who adds that the artists he works with “have become wiser with respect to their finances post-pandemic.”
Most Pressing Issue: “Staff development and retention of talent that truly cares about their clients’ financial well-being.”
Robert Polay of Polay + Swann counts Blxst among his clients.
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Michelle RichburgPresident/CEO, Richburg Enterprises
Richburg is among the co-authors of the motivational book Still I Thrive!: 24 Lessons on How to Pivot & Evolve During an Unexpected Crisis, published in August 2021. Her chapter focuses on the importance of financial freedom, and she has gained recognition in media outlets ranging from Harvard Business Review to Black Enterprise. Among Richburg’s clients are the Warner Music Group/Blavatnik Family Foundation Social Justice Fund, and she is a faculty member at the WMG Global DEI Institute, which the company describes as “a hub of innovation, learning and action, driving impactful change at WMG and beyond.” Her clients also include Mary J. Blige’s new festival, Strength of a Woman; RCA president Mark Pitts; A Boogie Wit Da Hoodie; and several other artists, labels, influencers and social justice organizations.
Murray Richman Nathan RichmanPartners, Richman Business Management
As the prospect of big paydays from NFTs, cryptocurrency and catalog sales increasingly entice clients, Richman Business Management ensures they also consider the vitally important “budgeting, tax planning and long-term wealth management” ramifications, says Nathan Richman, who has worked alongside his father, Murray, for more than a decade. Amid rising inflation and a saturated live-music sector, RBM implemented a more interactive tour budgeting and reporting application to help clients check profitability in real time. The company also doubled down on proper registration and collection protocols for income tracking, as artists move toward increasingly diversified content ownership.
Most Pressing Issue: “Inflation and rising costs and a slowing economy is a very real force,” says Nathan Richman. “Live-music ticket sales are slowing, and as the market continues to get flooded with artists looking to tour after the pandemic, it’s going to be a major headwind that we all face.”
Phil SarnaFounder/senior managing director, PS Business ManagementAmy HertzSenior manager, PS Business ManagementJuan CumbeManager, PS Business Management
The business opportunities for music and other creative artists have grown more complex and far-reaching since Sarna founded PS Business Management in 2002. Now with offices in New York, New Orleans, Los Angeles and Nashville, the firm has shepherded clients through the pandemic and, in many cases, helped them reprioritize their financial goals. “The value our clients bring to the world outside of music and film/TV has grown exponentially over the past five to 10 years,” Sarna says.
Most Pressing Issue: “Everything is just more complex than it has ever been,” says Sarna. “Deals are more far-reaching. [What clients create] is valued more than ever before.”
John ShaheenPartner, Business Wealth & Tax Management
Shaheen’s firm has been focused on “a variety of activities resulting in cash inflow for clients,” including tax credit opportunities and pandemic-related assistance, from the Paycheck Protection Program to the Shuttered Venue Operators Grant. “I’m very proud of our internal group of professionals who vary in age, ethnicity, background and experience; we are proud of our collective diversity and synergy,” says Shaheen, whose firm works with Burna Boy, Kenny Beats, Rico Nasty, Breland and Matt Maeson, among others. “I’m also the co-director of a 501c3 organization that connects music industry professionals with sponsoring a one-of-a-kind field trip for students in underserved school districts within greater Los Angeles.”
Most Unusual Client Investment: “An ayahuasca retreat center.”
Alex SmithPartner-in-charge of business management, Mann Gelon Glodney Gumerove YeeJustin SrokaPartner, Mann Gelon Glodney Gumerove Yee
“We’ve had the opportunity to oversee a couple of significant legacy catalog sales,” says Smith, and although client confidentiality prevents him from identifying the parties involved, he says the deals allowed “those clients to diversify their balance sheets and save substantial taxes in securing capital gains treatment on those assets.” The firm’s most pressing concern? “Navigating frequent changes to federal and local tax law in a way that maximizes our clients’ net earnings,” says Smith. “We are also very focused on cybersecurity due to increased targeting of high-profile and high-net-worth individuals.”
Most Unusual Client Investment: “One recently purchased an over 60 million-year-old Triceratops skull,” Smith says.
Charles SussmanPresident, Sussman & Associates
“With an increase in demand for catalog acquisitions over the past few years, our firm specializes in evaluations and due diligence to negotiate the best offer for our clients,” says Sussman. The firm’s client roster includes Miley Cyrus, Bon Jovi, Bette Midler, Will Jennings, Megadeth, Steve Winwood and the estate of Olivia Newton-John. “One of the biggest [industry] developments is escalation in the mechanical and streaming rates, which will impact the long-term value of catalogs,” Sussman says. “The catalog acquisition multiples have also increased substantially,” he adds, listing inflation and its impact on touring costs as another pressing issue affecting artists.
The estate of Olivia Newton-John is advised by Charles Sussman, president of Sussman & Associates.
Keystone/GI
José Juan TorresOwner/managing member, Torres
“The last two-and-a-half years, we have seen how inequality in all social and economic spheres has dramatically impacted the behavior of human beings,” says Torres, who advises Bad Bunny, Residente, Visitante, iLe, Rafa Pabon, Lunay, Villano Antillano and La Buena Fortuna, among others. “One of the blessings of our clients is that they have great platforms to raise their voices. So we have provided special attention to planning their philanthropy and their non-for-profit entities. We think this helps to highlight their social commitment and how they strongly contribute not only to the world of the arts but in everything that surrounds and affects them.”
Most Pressing Issue: “Keeping track of all content monetization. Today, there are too many revenue streams/channels and being able to maintain visibility across all of them is extremely challenging. It requires a lot of effort, time and technology.”
Sally VelazquezPresident/business manager, Empower Business Management
At Empower, which includes 21 Savage, iann dior, jxdn and Tinashe on its client roster, Velazquez is focused on helping her clients pivot and wisely navigate investments in opportunities including NFTs and “receiving ownership in brands they believe in,” she says. Her key concern now? “Looking for the right place to safeguard our clients’ funds. With inflation increasing, the stock market turbulence and interest rates and real estate skyrocketing, we now are seeking alternative areas, such as private equity, to invest.”
Most Unusual Client Investment: “One of my clients [talked] with me about buying property on the moon, and I almost had a heart attack before I realized the joke.”
Rit VenerusSenior managing director, Cal Financial Group
Venerus has a front-row seat to the current challenges facing touring artists as the adviser to clients including the Dave Matthews Band, Dead & Company, John Mayer, The Lumineers, Bon Iver and Jack White. “While touring has resumed, it has continued to be very challenging with inflation, shortages of touring resources and still dealing with COVID cancellations,” he says. “It has been a very busy year for us guiding our clients through this environment so they can continue to make informed decisions.”
Most Pressing Issue: “There is a great reset going on in markets as the investment world reacts to inflation after years of the government printing too much money. It’s going to take a minute for things to shake out, and our job is to help guide our clients through and not overreact.”
Kris WiatrPresident, Wiatr & Associates
Rising costs, especially surrounding touring, “is the biggest concern to my clients at this point,” says Wiatr, whose roster includes Chris Stapleton, Mick Fleetwood and Parker McCollum. “Bus costs, trucking costs … have risen significantly since before COVID. Sound and video equipment has risen as well. Add the rising fuel costs and it is significantly more expensive to tour in 2022 than it has ever been.” Because of this, Wiatr says, “budgeting is extremely important.” Wiatr & Associates “raised over $10 million of COVID [relief] funding for our clients,” he adds.
Most Pressing Issue: “Finding caring and knowledgeable staffing. We have amazing, caring and compassionate employees that truly care for the artists they work with — and are looking for more.”
Dwight WilesPartner/president, Wiles + TaylorRobert TaylorPartner/vp, Wiles + TaylorKevin Dalton Steve EggartBusiness manager, Wiles + Taylor
In August, the Academy of Country Music presented Dwight Wiles with the ACM Lifting Lives Award for his service to the organization’s philanthropic division. “Wiles’ financial leadership enabled ACM Lifting Lives to give generously to the country music community through the years,” the ACM stated in its announcement of the honor. The Nashville firm has guided its clients through the current challenges of tour budgeting amid a scarcity of buses, trucks, production equipment and road crews, seeking to increase revenue beyond ticket sales with merchandise, VIP packages, livestreams and more.
Giving Back: Wiles + Taylor reports a new focus by its clients on charitable initiatives, from donor-advised funds to local disaster relief, driven by the awareness in the pandemic of how quickly financial circumstances can change.
Colin YoungFounder, C.C. Young
“Touring has returned with vengeance,” says Young. “We anticipated its return and built the touring department, which now extends to 25 staff.” For multinational tours, minimizing tax liabilities is key. That requires planning “early in the tour cycle and technical excellence in the understanding of the double tax treaties around the world,” says Young, whose London-based firm provides financial services for an international roster of over 300 clients. In November 2020, Young gave evidence at a U.K. Parliament inquiry into the economics of music streaming where he argued for a more equitable royalty split between artists and labels. For his clients now, “we undertake the most sophisticated streaming audits, applying a skeptical analysis of units and royalty rates,” he says. “The emphasis is on mechanical and public performance. How does Harry Fox/MLC mechanicals compare to ASCAP/BMI performance? We show our clients the money.”
Bill ZysblatCo-founder/managing partner, RZOTom Cyrana John Gula Lila SweetPartners/managing directors, RZO
With concert tours managing ongoing health risks and artists eager to perform live once more, “everything is amazingly good — from a fan perspective,” says RZO co-founder/managing partner Zysblat. But for artists? “It’s COVID, COVID, COVID,” he says.
Zysblat brings nearly five decades of perspective to discussions of touring. He and his late business partner Joe Rascoff began advising The Rolling Stones in 1975, and they formed RZO in 1988. The firm stands out among its peers in the business management field not only for its focus solely on artists, but also the stature of those names it works with.
RZO still counts the Stones among its clients (although AEG manages the finances of the band’s tours) and also advises Lady Gaga, U2, Steely Dan, David Byrne, Luis Miguel, Shania Twain, Sting, Yoko Ono and the estates of John Lennon and David Bowie, among others. RZO’s partners, each with a specific area of expertise, include Cyrana (royalty compliance), Gula (taxes) and Sweet (business management).
“You can’t insure a show for COVID-19 — which to the average fan means nothing,” says Zysblat. But for an artist, the loss of one or more shows can turn the net result of an entire tour “into a loss from a profit.” Compared with other illnesses, he says, “COVID-19 is causing widespread cancellations over longer periods of time.”
Dave J Hogan/GI
Finances aside, Zysblat says the threat of the coronavirus has significantly changed the nature of touring for artists. “You tour in a bubble,” he says. “People don’t want to give their bandmates or their crew COVID-19. So they’re not having the VIP rooms; they’re not having their friends backstage. They’re not going out to dinner in towns they used to love to wander in.
“Every tour is one sneeze away from a cancellation,” he says. “So it has been crazy.”
This past year, RZO has also focused on another area that has increasingly demanded the attention of business managers: non-fungible tokens, which Zysblat describes more simply as limited-edition artwork.
RZO advised the Bowie estate on the September launch of “Bowie on the Blockchain,” a sale of NFTs created by multiple major artists and benefiting CARE, the humanitarian nonprofit for which Bowie’s widow, Iman, serves as global advocate. The venture is consistent with Bowie’s own pioneering enthusiasm for online art during his lifetime.
“David was setting up online galleries for young artists who couldn’t afford to back when web space was expensive,” says Zysblat. Now amid the rise of NFTs, he adds, “of course, David would have supported young artists.”
Contributors: Cathy Applefeld Olson, Megan Armstrong, Nefertiti Austin, Steve Baltin, Dean Budnick, Anna Chan, Jonathan Cohen, Mariel Concepcion, Stephen Daw, Liz Dilts Marshall, Thom Duffy, Chris Eggertsen, Gary Graff, Clayton Gutzmore, Raquelle Harris, Lyndsey Havens, Gil Kaufman, Steve Knopper, Carl Lamarre, Cydney Lee, Elias Leight, Joe Lynch, Geoff Mayfield, Taylor Mims, Gail Mitchell, Melinda Newman, Jessica Nicholson, Ronda Racha Penrice, Glenn Peoples, Kristin Robinson, Crystal Shepeard, Richard Smirke, Jewel Wicker, Deborah Wilker
Methodology: Billboard power lists are chosen by Billboard editors. Nominations for each power list open not less than 120 days in advance of publication. (For a contact for our editorial calendar listing publication dates, please email thom.duffy@billboard.com.) The online nomination link is sent to press representatives and/or honorees of companies previously featured on any Billboard power list, as well as those who send a request before the nomination period to thom.duffy@billboard.com. Nominations close and lists are locked not less than 90 days before publication. Billboard’s Top Business Managers for 2022 were chosen by editors based on factors including, but not limited to, nominations by peers, colleagues and superiors. In addition to nominations, editors weigh the success of each executive’s affiliated artists as measured by chart, sales and streaming performance.
This story originally appeared in the Nov. 5, 2022, issue of Billboard.
Artist and brand manager Craig Dunn has launched One Spark Entertainment, in partnership with mtheory. Dunn’s longtime client Sara Evans will join One Spark Entertainment, while Broken Bow Records duo Everette also joins the new roster.
Dunn has more than two decades of experience in areas including artist management as well as digital marketing, merchandising, label operations and revenue development. Prior to launching One Spark Entertainment, Dunn served as vice president at Collective Artist Management beginning in 2012, and worked as sr. vp at digital marketing and merchandise company Music City Networks, where he oversaw digital marketing, websites, fanclubs and more for artists including Lady A, Eric Church, Dierks Bentley, Little Big Town and Toby Keith.
“The idea behind the name of One Spark Entertainment came to me in the middle of the night as I was unable to sleep, excited about starting the new chapter of leading my own management company. The phrase of ‘it only takes one spark to start a fire’ popped into my head and just wouldn’t leave, no matter how many other ideas I considered,” Dunn said via a statement. “It just takes one spark of imagination or an idea to start a fire. I’m excited to bring my years of artist management, digital, event management, merchandise, road experience, and revenue generation across music, touring, TV and literary to One Spark Entertainment as we service the current roster and grow the company strategically, partnering with multi-talented artists that share the same creative passion and drive to create, innovate and grow as a team to reach the next level of success. Having known and previously worked with most of the senior team at mtheory, I’m thrilled to call them partners and bring their expertise and creative thinking to the roster.”
Founded in 2010, mtheory handles artist development, marketing, strategy and operations infrastructure designed for artist managers. Recently, mtheory also teamed with CMT to launch the Equal Access Development Program, year-long program designed to provide access and training for underrepresented demographics — including Black, Native and Indigenous, Latino, LGBTQ+ and female artists and managers — in the country music industry.
“The senior Nashville team at mtheory have known Craig for more than a decade and could not be more excited to be part of his new venture,” added mtheory CEO Cameo Carlson. “His forward-thinking approach to management and spirit of teamwork are exactly what we look for in our manager partnerships. Being able to add strategy and marketing resources to the incomparable Sara Evans and up-and-coming superstars Everette is just icing on the cake!”
In addition to new clients, One Spark Entertainment also welcomes Nicole Lewis as management coordinator.
Managers Federico Lauria and Pepo Ferradas, whose client list includes Nicki Nicole, Duki and Bizarrap (Lauria) and Camilo, Evaluna Montaner and Lali Esposito (Ferradas), have teamed up to co-manage rising Spanish artist Rels B.
Longtime friends, Lauria (CEO of DalePlay) and Ferradas (CEO of FPM Entertainment) have collaborated in multiple tours and projects, but this marks the first time the two executives team up to jointly work in developing an artist’s career.
Rels B, also known as Skinny Flakk, began recording as a rapper but has evolved into more R&B and urban/pop territory with highly relatable lyrics and memorable melodies. To date, he has amassed 4.5 million subscribers on his YouTube channel and has 15.6 million monthly listeners on Spotify.
After scoring multiple hits in his native Spain, Lauria and Ferradas are making a concerted effort to focus on the U.S. Latin and Latin American markets. This summer, Rels B finished playing a 27-date tour of the U.S. and Latin America, and in August, he put out his first single, “Cómo dormiste?,” under Lauria and Ferradas’ management. The track garnered Rels B his first top 10 on the Billboard Argentina charts and the music video has over 38 million Youtube views. Today (Nov. 4) he released the alt/pop-leaning “pa quererte.”
Lauria and Ferradas have long worked together in different projects, most recently in Esposito’s sold-out Argentina tour, which Lauria promoted, and includes a grand finale at Velez stadium, with 45,000 tickets sold. Both men have also scored big management wins in the past 12 months, Lauria with Duki and Bizarrap, and Ferradas with Camilo and, prior to that, Nathy Peluso.
But this is the first time they formalize a management alliance. Rels B releases music under his own Flakk Records and Dale Play, Lauria’s label. He is signed for publishing with Sony Music Publishing.
While attending law school at the University of Pittsburgh, Philadelphia native Reynold Jaffe was booking DIY shows at least three nights a week — including Bright Eyes’ first performance in the city in 1999. Through that key booking, he met agent Eric Dimenstein, whom he stayed in touch with over the years as he became more immersed in the music industry. After first working in the business affairs department at Rykodisc, Jaffe later started independently managing Kurt Vile (whom he met at the indie record store his now-wife ran at the time) and Waxahatchee’s Katie Crutchfield.
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By 2017, after years of encouragement from Dimenstein, Jaffe finally turned his passion into co-founding his own company, Another Management Company (AMC). Today, the firm has 10 employees and a roster of just over 20 acts, from Mdou Moctar and Alvvays to 2022 breakouts Blondshell and Horsegirl. “I never thought managing bands would or could be a career,” says Jaffe. “We identified a gap between the big management companies and a bunch of rogue one-man shows … Indie labels used to be thought of as junior varsity. I don’t think that is the case anymore at all. Some of the most artistically and commercially viable records can happen in the independent sphere, more so now than ever.”
Horsegirl
Horsegirl
Cheryl Dunn
During Thanksgiving dinner in 2020, Jaffe excused himself to hide in the bathroom and listen to a Bandcamp link his friend had sent. “I immediately fell in love,” he recalls of hearing Chicago-based teen trio Horsegirl’s first three songs. “I DM’d the band on Instagram from the table and said, ‘Please, can we talk?’ ” He hadn’t felt that surprised since hearing Snail Mail five years prior, subsequently signing the then-teen act to AMC in 2016. After partnering with Horsegirl in 2020, Jaffe helped the group score a record deal with Matador this year. “My experience with Snail Mail is not a small part of what made them comfortable with pursuing this.”
Blondshell
Blondshell
Daniel Topete
Welcoming indie-rock act Blondshell into the AMC family in June was pivotal for Jaffe. “Blondshell marks one of the first instances of a band that I’m not the manager of,” he says, praising AMC’s Holly Cartwright and Shira Knishkowy. “The passion was exuding from them for this demo …They’ve been in the driver’s seat, and that was my goal for AMC.” Jaffe believes the success of Blondshell, the Sabrina Teitelbaum-fronted act recently picked to join Spotify’s Fresh Finds emerging artist program, proves what can happen when the right team comes in at the right moment “with a vision and relationships to put gasoline on the fire.”
Mdou Moctar
Mdou Moctar
Atiba Jefferson
Though AMC started working with Niger-based Mdou Moctar in the summer of 2018, Jaffe had long been a fan of the Taureg songwriter and musician. “I’ve always liked music from that part of the world, but Mdou combined the traditional sounds of that part of the world with raging Western guitars, which I also love,” he says. “I would always go see him and the band as they came to town.” Following encouragement from musician Matt Sweeney, who “was a huge early proponent” of the musician, AMC added Mdou Moctar to its roster with the goal of signing the act to a new label. In 2020, Mdou Moctar signed to Matador and in late 2021 released its sixth album Afrique Victime. “At risk of being hyperbolic, it really is that sort of rarified air of seeing that band play,” continues Jaffe, teasing that after playing an estimated 200 shows this year the band is already back in the studio working on an album he hopes will arrive in 2023.
Poison Ruïn
Poison Ruin
Courtesy of Another Management Company
The Philadelphia punk band Poison Ruïn had been on Jaffe’s radar for some time. “It was one of those things where it’s like, your little brother’s doing something cool and you don’t immediately pay attention because it’s just your little brother’s thing and then you step back and you’re like, ‘Holy cow, this is really special,’ ” says Jaffe. He recalls how the act’s first album, I, uploaded to Bandcamp in 2021, sold 300 vinyl copies in under five minutes, prompting a repressing. He and AMC manager Dan Oestreich agreed the group could transcend the DIY punk scene, and now, much like Horsegirl and Blondshell, anticipate the band’s major breakthrough in 2023. Says Jaffe: “It could definitely be their year.”
This story will appear in the Nov. 5, 2022, issue of Billboard.