NEW YORK (CelebrityAccess) – In the latest music industry updates, Billboard has unveiled its highly anticipated Power 100 list, ranking the most influential figures based on market share, chart data, box score information, and revenue. Renowned Grammy-winning artists such as Beyoncé, Jay-Z, U2, Jon Bon Jovi, Taylor Swift, and Lady Gaga have solidified their positions on the list, reflecting their ongoing impact on the music scene. This year, Swift takes the top spot. Billboard’s website states the following regarding this year’s No. 1 pick.
This year, though, the mastermind behind most of the industry’s record-breaking achievements — from a historic stadium run that fueled an unprecedented rule atop the Billboard 200 albums chart to the most profitable concert film of all time — was an artist herself. Taylor Swift doesn’t refer to herself publicly as an executive, but she designed and executed one of the most ambitious, innovative and successful business plans the music industry has ever seen.
Sure, she has a team behind her — a killer one at that. By all accounts, though, she makes the bets and calls the shots — so there’s no one else we can credit for her brilliant chess moves.
That’s why you’ll find an artist atop this year’s list of the industry’s most powerful executives. Her message to her fellow Power Players is mission critical in the face of challenges like artificial intelligence, streaming fraud and an uncertain economy. As music companies reimagine themselves for the future, we welcome her visionary leadership advice. Anyone hoping to wrest the No. 1 spot from her next year is certainly going to need it.
Besides Ms. Swift taking over the world, inclusive of the National Football League (NFL) in 2023 other notables on the Billboard Power 100 list include:
Lucian Grainge, CEO/Chariman, Universal Music Group – Grange sat where Swift is sitting right now – but he’s taking the No. 2 spot for the 2023 iteration.Grange oversees the biggest worldwide music company with the largest US recorded-music market share. In 2023, he partnered with YouTube to find ways for emerging artists to capitalize on the opportunitites that emergining artificial intelligence (AI) tech is creating for them without crossing any copyright boundereis. In his 2024 memo to staff, he said for the future that he aims to do nothing less than create “the blueprint for the labels of the future.” UMG remains, as Grainge noted, “the most successful company in the history of the music industry.”
Michael Rapino, CEO/President, Live Nation Entertainment – Rapino secures an impressive No. 4 position on this year’s Billboard list, reflecting Live Nation’s (LN) outstanding performance with a record-breaking revenue of $8.2 billion in Q3 2023, as reported by Billboard.com. Despite challenges, including the Swift Eras Tour ticketing incident that sparked Congressional scrutiny, LN and Ticketmaster (TM) are navigating the landscape positively.
Capitol Hill’s inquiry into LN’s ticket pricing, fees, and resale practices, as well as allegations of monopolistic behavior, has been met with transparency. LN’s legal team promptly submitted over 10,000 documents to Senator Richard Blumenthal (D-Conn.) and the subcommittee. Importantly, Congress has found no evidence of wrongdoing by LN and TM, thus far.
Rapino underscores his company’s commitment to artists and fans, highlighting the establishment of FAIR ticketing. He advocates for intelligent regulation to safeguard artists, ensure fan access to tickets, and cultivate a thriving live industry. Rapino’s perspective emphasizes the positive impact both companies strive to make while addressing challenges in the industry.
“Shows belong to the artist, and as you saw with us establishing FAIR ticketing, we are huge supporters of laws ramping up artist rights and fan protections,” Rapino says. “Smart regulation keeps artists’ livelihood protected, gets ticket into fans’ hands and promotes a growing live industry, which is great for just about everyone but scalpers.”
Coran Capshaw, Founder, Red Light Management (RLM) – In the realm of music executives, Capshaw is a rarity, steering clear of interviews and the only one on the Leaderboard without a publicist. Despite his reserved approach, he proudly highlights Red Light Management’s (RLM) achievements in 2023, spotlighting the success of the Enrique Iglesias, Pitbull, and Ricky Martin’s Trilogy tour, which grossed $66.9 million. Capshaw also notes the growth of Firebird and the launch of Leo33, a country label in collaboration with RLM, alongside strategic investments in Tape Room Music.
On the management front, Capshaw reveals RLM’s spartnership with Sabrina Carpenter’s manager, Janelle Lopez Genzink. He emphasizes the groundbreaking success of country artist Lainey Wilson, the first woman in 12 years to clinch the Country Music Association’s (CMA) entertainer of the year award. Capshaw takes pride in his company’s unique artist development approach, citing the journeys of artists like Wilson, Luke Bryan, and Chris Stapleton from clubs to stadiums.
While business discussions remain reserved, Capshaw becomes more expressive about philanthropy. He highlights a substantial $5 million donation, along with eight-figure funds raised by him and Dave Matthews Band, for a housing initiative in Charlottesville, VA., now in the move-in phase. Additionally, he shares the positive impact of Trey Anastasio’s Divided Sky Foundation, which opened a nonprofit substance use disorder treatment center in Vermont. For Capshaw, the immeasurable feeling of doing good is priceless: “You can’t buy the feeling you get doing good.”
Henry Cárdenas, Founder/CEO, Cárdenas Marketing Network – In the dynamic landscape of music and entertainment, CMN, in parternship with Fénix Entertainment and LN is orchestrating remarkable tours. Following the triumph of Bad Bunny’s 2022 World’s Hottest Tour in partnership with LN, grossing an impressive $232.5 million, CMN embarks on an ambitious journey in parternship with Fénix Entertainment with Luis Miguel’s two-year, 200-date tour.
Cárdenas, reflecting on his 44-year career, attributes the tour’s extraordinary scale to Miguel’s insatiable artistic drive. Known as “El Sol de Mexico” to fans, Miguel’s tour, expected to conclude in 2024, has already grossed $140 million from 66 performances, captivating audiences across the Americas.
Last year, CMN also curated Daddy Yankee’s farewell tour, generating $72.5 million from 29 performances. Both Miguel’s and Yankee’s tours secured positions in Boxscore’s top 10 Latin tours of 2023, underscoring CMN’s influence in shaping the contemporary music scene.
As the narrative of these tours unfolds, it offers a compelling glimpse into the intersection of artistic passion and commercial success, resonating across borders in the ever-evolving music industry.
Other notables include Daniel Ek, Co-Founder/CEO of Spotify (No. 5), Lyor Cohen, Global Head of Music, Google/YouTube (No. 8), Michelle Jubelirer, Chairman/CEO, Capitol Music Group (No. 27), Wassim “Sal” Slaiby, Co-Founder/CEO, SALXCO/XO Records (No. 31) and many more.
Congratulations to all! You can view the full list HERE.
