Billboard’s Top Business Managers 2023 List – Billboard

Ed Sheeran would make any enterprise supervisor proud.

The advisers who information the funds of artists and executives usually battle to get shoppers to deal with the long run, together with property planning and precisely what their heirs ought to do once they’re gone.

That’s not an issue for Sheeran.

The singer just lately instructed GQ that he has constructed a chapel on the grounds of his property in England, the place he has hosted buddies’ weddings — and has discovered a spot for his cremated stays.

“It’s a gap that’s dug within the floor with a little bit of stone over it, so every time the day comes and I move away, I get to go in there,” Sheeran stated within the October interview. “Individuals suppose it’s actually bizarre and actually morbid, however I’ve had buddies die with out wills and nobody is aware of what to do.”

Artists and executives all the time know what to do once they work with any of Billboard’s 2023 class of prime enterprise managers. Nominated by their corporations and friends and chosen by our editors, these advisers deal with not solely property planning but additionally spending, saving, investing, royalty monitoring, asset gross sales, tax compliance and extra — all properly earlier than shoppers meet their ultimate reward.

Annually, Billboard asks our prime enterprise managers for examples of their shoppers’ most uncommon investments. Their solutions this yr embody such colourful ventures as comedian books, a longhorn bucking bull, a roller-skating rink and Pokémon playing cards.

However FBMM chairman Duane Clark presents a extra sober response for a difficult time: “Our shoppers have turn into vastly extra refined in investing,” he says, “so the weird is now being changed, fortunately with our help, with dialogue of payment buildings, allocations and long-term targets — investing in high quality companies, not the most recent unconventional scheme.”

What considerations immediately’s prime enterprise managers? Mark Pariser, co-founder of Dunn Pariser & Peyrot, gives a brief checklist: “inflation, conflict, excessive taxes, unstable monetary markets, greater rates of interest on the macroeconomic degree. On the trade aspect, new enterprise fashions ensuing from streaming, [artificial intelligence] and considerably greater touring prices,” he says.

The will increase in rates of interest imposed by the Federal Reserve for the reason that spring of 2022 to handle inflation have had a large influence on “quite a lot of consumer selections from shopping for a house to funding alternatives, in addition to the price of enterprise acquisitions and gross sales,” says Tyson Beem, CEO of Gelfand Rennert & Feldman.

Tina Fasbender, president of Fasbender Monetary Administration, continues to spotlight the position enterprise managers play as emotional advisers. “Cash versus long-term well being and emotional stability is an extremely underrated and underdiscussed aspect of the trade,” she says. “If we would like the shoppers to outlive and succeed for the long term, this must be a precedence.”

Rit Venerus, founding father of Cal Monetary Group, raises one other elementary concern that good advisers are watching: “We’ve continued to see local weather change impacting the enterprise increasingly,” he says. “From when and the way shoppers tour to the predictability of journey, climate round stay occasions or insurance coverage firms pulling out of sure markets, local weather change will proceed to be an evolving problem for our enterprise.”

Iván Alarcón
Co-founder/CEO, Vibras Lab

Alarcón was a key member of the group that closed a deal that introduced Karol G to Interscope Data, solidifying Vibras Lab’s cachet solely 5 years after its 2018 founding. Alarcón, who now employs over 40 professionals and serves shoppers from Latin America, Puerto Rico and Spain, has had roles in a few of the largest excursions on the earth, together with two by Unhealthy Bunny. As a enterprise supervisor, he helped construction Karol G’s current stadium tour. The longer term for Latin artists is shiny, he says, including, “The music enterprise may have new avenues of earnings that we don’t know but.”

Notable shoppers: Karol G, J Balvin, Eladio Carrión, Grupo Firme, Natalia Jiménez, Carin León

Michelle Amos-Richburg
President/CEO, Richburg Leisure

Amos-Richburg efficiently launched a 30-plus-date North American area tour for A Boogie Wit Da Hoodie, overseeing all manufacturing budgets, managing salaries and dealing with journey prices, insurance coverage necessities, tax withholding and different logistical facets of the tour. She was the enterprise supervisor of report for the manufacturing firm behind Mary J. Blige’s Energy of a Lady Pageant in Atlanta and oversaw model partnerships for the three-day Might occasion. In a music catalog sale for one consumer, “we have been capable of negotiate and safe a suggestion that was 40% greater than the unique valuation, benefiting the consumer considerably,” she says. Her agency has developed monetary literacy programs “with a specific deal with girls of coloration and younger Black and brown males.”

Urgent situation: “Life-style administration. Serving to shoppers create the correct mindset to create wealth, preserve wealth and depart a legacy. Making accountable selections and avoiding extravagant bills that is probably not sustainable in the long term.”

Belva Anakwenze
Enterprise supervisor, Abacus Monetary Enterprise Administration

Anakwenze presents tried-and-true recommendation to shoppers: “Dwell under your means, save sufficient to outlive a world catastrophe, and all the time account for taxes.” Because the rise of synthetic intelligence (AI) adjustments the monetary panorama for creatives, Abacus Monetary ensures that contracts replicate protecting clauses or perpetual royalties on identify, picture and likeness, and mental property. Anakwenze’s agency just lately elevated its workers by 20% to assist it proceed to fulfill the ever-changing wants of shoppers whom it advises “to dive deep to make sure contracts are written for longevity.”

Urgent situation: “The surge of social media monetary educators or influencers creates a era of creatives who depend on normal monetary suggestions that solely apply to some conditions. Purchasers usually ship social media clips with monetary recommendation, suggesting we use these ways for them. Sadly, not each tip works for everyone.”

José Aristizabal
Founder/CEO, Camaleon

Aristizabal highlights his agency’s work with “two of our valued shoppers in diversifying their portfolios, whereas concurrently serving to them set up strong groups and organizational buildings for enterprise enlargement.” These shoppers, he says, “function as report labels, publishers and managers [and] interact and signal proficient producers, songwriters and artists, providing a variety {of professional} companies” — and switch to Camaleon’s enterprise steering to assist all of those efforts. The agency’s shoppers embody Juanes, and Bomba Estéreo.

Urgent situation: “Sustaining a fantastic service and a constant and clear line of communication with the artists we characterize, as that is integral to nurturing their belief in us as their enterprise managers.”

Angie Barajas
Louis Barajas
Co-founders/enterprise managers, Enterprise Administration LAB

Working with a roster of artists that features Nicky Jam, Yandel, Edgar Barrera, Elena Rose and Yahritza y Su Esencia, Angie and Louis Barajas assist their shoppers create funding plans for multimillion-dollar catalog offers, whereas saving them thousands and thousands of {dollars} in taxes within the course of. “Catalog gross sales have been most affecting our shoppers” when it comes to earnings, Louis says. “Having a sound funding plan has proved to be harder with the uncertainty within the personal fairness markets.”

Most uncommon consumer funding: “A sequence of boutique meat markets [and] a world child product.”

Harrison Bauman
Senior vp/monetary adviser, Bauman Wealth Administration of Raymond James

Bauman Wealth Administration takes a private strategy with its shoppers, which embody The Monsters & Strangerz, Uncommon Conduct and Gregory “Aldae” Hein. Whether or not it’s the sale of a music catalog or the renovation of a home, the corporate advises on issues to permit shoppers to deal with their work, not their funds. The music catalog market is cooling off, Bauman says, “which suggests shoppers want to decide on in the event that they wish to go to marketplace for liquidity now or face uncertainty [and] depend on current money stream.” Along with inflation in 2023, “the price of residing and borrowing prices have gone up over the previous two years,” he says, which “is affecting the day by day residing for a lot of.”

Most uncommon consumer funding: “One consumer wished to place a 5,000-gallon fish tank in a home.”

Tyson Beem
CEO, Gelfand Rennert & Feldman
Chris Fazzolari
Todd Kamelhar
John Menneci
Melissa Morton
Rick Mozenter
Anton Pamer
Mike Skeet
Managing administrators, Gelfand Rennert & Feldman

Gelfand Rennert & Feldman stays a pacesetter in home and worldwide touring and enterprise administration in addition to royalty and valuation companies. “The depth of information essential to finest service world entertainers can solely be achieved with the assets and expertise we’re lucky to share, with our U.S. and U.Ok. colleagues having experience in touring, taxes, enterprise administration, royalty companies, publishing and music label companies,” Beem says. As music trade income fashions evolve, “an understanding of tips on how to register for, advocate for and acquire on the varied income streams accessible to musicians requires experience and diligence,” he provides. “Due to this experience — together with an experience within the valuation of music catalog gross sales and purchases — we now have a singular perspective to advise our shoppers on tips on how to finest function within the present atmosphere and plan for the long run.”

Urgent situation: “Rate of interest will increase have an effect on quite a lot of consumer selections, from shopping for a house to funding alternatives,” Beem says, “in addition to the price of enterprise acquisitions and gross sales.”

Marius Bercovici
Justin Kobay
Venicia Mestey
Bruce Seckendorf
Companions, LL Enterprise Administration

The agency, which Seckendorf based in 1994, has had substantial development within the Latin American music market with “our worldwide tax experience [allowing] our shoppers to successfully navigate the complicated tax points encountered by U.S. artists touring overseas and international artists touring within the U.S.,” Mestey says. Moreover, as catalog gross sales stay sturdy, LL Enterprise Administration continues to information shoppers by means of the method. “When completed on the proper time,” Mestey says, a catalog sale “can present monetary safety for them [and] might help set them up for the following 10 years, if no more, of their profession if the cash is managed correctly.”

Most uncommon consumer funding: “A roller-skating rink.”

Charles Bradbrook
Janice Lloyd
Steven Wren
Companions, SRLV

With 35 years in enterprise and a attain throughout greater than 50 international locations, the U.Ok.-based SRLV has just lately expanded by 30% to 180 companions and workers. “A lot of this has been pushed by our shoppers who’ve been busier than ever with main worldwide excursions, album releases and different tasks,” Lloyd says, “whereas our royalties group has seen a marked enhance within the variety of catalog valuations over this era.” With an experience in worldwide tax and U.Ok./U.S. tax issues, the corporate takes delight in “all the time” supporting new expertise and early startups through the years.

Urgent situation: “Purchasers are seeing their identify and likeness getting used by way of synthetic intelligence with out their consent in numerous types of media,” Lloyd says. “With out taking the required steps to guard their rights and supply these below license, AI has the potential to erode a consumer’s manufacturers and earnings streams.”

Joseph Callaghan
Mark Carter
Thomas F. Smith
Simon Winters
Companions, Prager Metis

Prager Metis, a 10-year-old agency with 600 workers that represents what Smith describes as “musicians, music publishers, report labels, trend designers, TV and movie stars, influencers, sports activities figures and creatives,” has spent the final couple of years specializing in concert events. “It has been a busy touring season,” Smith says. “We take a look at protecting prices down, location of excursions home versus international, central tax withholdings and forecasting the rising vendor prices.”

Urgent situation: “The rising rate of interest atmosphere,” Smith says.

Adam Caswell
Director of enterprise administration, Fineman West and Co.

Caswell’s agency added a royalty division over the previous yr that “resulted in efficiently capturing sometimes missed income alternatives,” he says. What are Fineman West’s “ultra-high-net-worth” pop star shoppers shopping for as of late? Personal planes, in accordance with Caswell: “The tax regulation at present permits for a full write-off of the price. We’ve in depth information in serving to our shoppers maximize a broad vary of tax-saving alternatives accessible to them.”

Notable shoppers: Kim Petras, Tyga, Steven Tyler, producers Tank God and J.R. Rotem

Duane Clark
Proprietor/chairman/president/enterprise supervisor, FBMM
Julie Boos
Proprietor/vice chairman/vp/enterprise supervisor, FBMM
David Boyer
Jamie Cheek
Carmen Romano
Erica Rosa
House owners/vps/enterprise managers, FBMM
Jen Conger
Proprietor/enterprise supervisor, FBMM
Paul Barnabee
Director of West Coast operations, FBMM
Chris Hughes
Dan Killian
Betsy Lee
Enterprise managers, FBMM

Three years after the peak of the pandemic, touring artists are nonetheless going through difficult headwinds in terms of touring logistics, together with rising transportation prices. In the meantime, Clark notes that for a lot of artists, “ticket costs, ensures and walkouts should not rising on the identical degree. There are storm clouds on the horizon if one or the opposite doesn’t change.” He additionally says that ongoing good points in consumption of music by means of streaming and social platforms is providing “materials transformation in each present earnings and asset values into the long run.”

Most uncommon consumer funding: “Our shoppers have turn into vastly extra refined in investing,” Clark says, “so the weird is now being changed, fortunately with our help, with dialogue of payment buildings, allocations and long-term targets — investing in high quality companies, not the most recent unconventional scheme.”

Lauren Cooper
Maria del Pilar Lopez
Wayne Kamemoto
Sharon Sullivan
Errol Wander
Companions, Citrin Cooperman

Citrin Cooperman was based in 1979 with seed cash from two iconic rock bands, and the agency “continues to focus vital assets to our music follow,” says Kamemoto, who was just lately named the music subindustry chief of the corporate’s leisure, music and sports activities follow. “We proceed to increase our follow by signing world-class royalty guru Jon Payne to our royalty inspection, contract compliance and consulting follow and establishing the preeminent music economics and valuation companies follow with the addition of Barry Massarsky and Nari Matsuura final yr,” Kamemoto says. “To have these assets inside our music follow and to have the higher agency’s experience in different areas our shoppers are concerned with — hashish, digital property, worldwide taxation, not-for-profits, actual property, eating places — has been extraordinarily useful.”

Notable shoppers: The Black Eyed Peas, Jack Antonoff, Bleachers, Alejandra Guzmán, Redfoo, The Strokes

Lester Dales
Founding director, Dales Evans & Co.

“The enterprise atmosphere shoppers function in strikes a lot quicker,” Dales says. “Offering a supportive and proactive enterprise administration group service is prime.” Regardless of growing touring prices and “lowered capability in insurance coverage markets for nonappearance insurance coverage,” over the previous 18 months, Dales and his group “have labored on quite a lot of profitable excursions with home shoppers.” He has additionally suggested quite a lot of U.S. artists on their withholding taxes in Europe and South America. Going ahead, Dales provides, “the impact of synthetic intelligence and different new applied sciences need to be rigorously thought of as new streams of earnings develop.”

Notable shoppers: Dua Lipa, Queen, Coldplay

Kella Farris
Stephanie Self
Catherine Moore
Stephanie Alderman
Companions, Farris Self & Moore

This yr has been stuffed with steps ahead for the agency’s leaders as Farris assumed the position of Nation Music Affiliation board president, Self was named the 2022 CMA Touring Awards enterprise supervisor of the yr and Alderman was named companion. Plus, the corporate moved to a brand new, 10,000-square-foot workplace in Nashville. But it surely has additionally been a yr of navigating challenges for shoppers, significantly in touring, which has grown economically more durable “because of greater borrowing prices, escalating touring bills and chronic inflation,” Alderman says. “The silver lining is new artists with any diploma of bargaining energy at the moment are receiving label presents that allow them to maintain possession of their masters and exclude the 360 part. This transforms the artist-label relationship into extra of a partnership than we’ve seen up to now.”

Most uncommon consumer funding: “Unconventional or high-risk investments ought to solely represent a small portion of a consumer’s portfolio,” Alderman says. “Our shoppers have been introduced with a broad array of funding alternatives, together with hashish shares, med spas, automobile dealerships, drinks, utilities, the metaverse and licensing offers that now usually incorporate fairness participation.”

Tina Fasbender
Founder/president, Fasbender Monetary Administration

After greater than 36 years within the trade, Fasbender says probably the most urgent situation now going through enterprise managers as they information the funds of their shoppers is psychological well being. “Cash versus long-term well being and emotional stability is an extremely underrated and underdiscussed aspect of the trade,” she says. “If we would like the shoppers to outlive and succeed for the long term, this must be a precedence.” Fasbender says a few of her most “gratifying” current work has been managing the property of late songwriter Allee Willis, who co-wrote legendary songs like “September” by Earth, Wind & Hearth: “She was a consumer, pal and larger-than-life character who knew no boundaries in life or the humanities.”

Most uncommon consumer funding: “A minor league baseball group.”

W. Shane Glass
President, Colony Enterprise Administration, The Colony Group

“The music trade is in a continuing state of transformation, and we proceed to adapt together with it,” Glass says. “Music catalog gross sales have created alternatives for our shoppers to diversify their earnings streams and portfolios. The prominence of the newer streaming fashions and faster funds has helped our shoppers put cash of their pockets faster.” Defending his shoppers, Glass says, “includes not solely managing their earnings and bills but additionally assessing potential dangers in contracts, investments and their general monetary portfolio,” in addition to guiding shoppers to make “prudent selections in an ever-changing trade.”

Most uncommon consumer funding: “Ice cream vehicles, or cryptocurrency that I’ve by no means heard of.”

Reggie Gooden
Co-founder/managing companion, 360 Enterprise Administration

The problem for a contemporary enterprise supervisor, Gooden says, is to “not solely have the ability to successfully talk to a youthful consumer base however add worth past fundamental accounting and tax companies. Additionally they want to remain properly knowledgeable of fast adjustments in tech in addition to tradition in order that they are often trusted advisers and companions with their shoppers.” Simply over a yr since opening, 360 Enterprise Administration has expanded from 4 workers to a workers of almost 25 and added funding and wealth advisory companies to its enterprise administration mannequin. The agency represents creators like Cedric the Entertainer, Grammy Award-nominated producer HARV and Grammy-winning songwriter Cory Henry, in addition to media executives.

Most uncommon consumer funding: “Digital actual property investing has been a dialog that has raised my eyebrow and blood stress within the final 12 months.”

Sean Granat
Companion, CohnReznik

Through the previous 18 months, CohnReznik has “considerably expanded its presence in South Florida, just lately opened an workplace in Denver and has broadened its group and capabilities in Asia,” Granat says. “As extra of our music and leisure shoppers look to generate income by licensing their names and pictures for client merchandise, our leisure follow has begun collaborating with our client trade follow to assist their efforts from tax planning and monetary advisory views.” Touring stays the first supply of earnings for CohnReznik shoppers and, as prices and inflation have stabilized, the corporate can higher assess the profitability of a tour when advising shoppers. Catalog gross sales proceed to be an earnings stream for artists, Granat says, however the period of huge premiums has declined.

Most uncommon consumer funding: “Whereas I’ve been requested to opine on quite a few concepts — from shopping for soccer groups and unique actual property to buying foreign currency — I are likely to steer them towards the tried and true except the weird funding presents superior tax or enterprise benefits.”

Becky Harris
President, Huskins-Harris Enterprise Administration

Huskins-Harris is consistently looking for methods to “save our shoppers cash” on the one hand and assist “them to develop their monetary portfolio” on the opposite, in accordance with Harris. On the identical time, she provides, it’s essential to maintain up with “the fixed inflow of latest social media platforms and methods to monetize them” whereas defending her shoppers’ privateness. Harris can also be watching new streaming fee fashions, which “will proceed to have an effect on earnings because the royalty charges change and insurance policies evolve.” She provides: “Maintaining with this side of the enterprise could be a full-time focus of its personal.”

Most uncommon consumer funding: “A longhorn bucking bull.”

Nicholas Judd
Co-founder/CEO, Leftbrain
Nicholas Brema
Enterprise supervisor, Leftbrain

Leftbrain just lately launched a vendor monitoring database that permits its enterprise managers “to watch market developments [and] examine vendor and impartial contractor charges,” Brema says. “Our shoppers sleep simpler understanding that their enterprise administration group is monitoring all their vendor relationships to make sure acceptable and honest compensation.”

Urgent situation: “Agency tradition. Given the behind-the-scenes, and infrequently thankless, nature of our roles, it’s straightforward for a agency to develop an apathetic tradition,” Brema says. “At Leftbrain, we discuss tradition — so much. We encourage members of our group to develop a powerful rapport with their shoppers, and we spotlight these workers who exemplify our tradition by means of their actions. Whereas our know-how might assist differentiate us from the competitors, it’s our tradition that our shoppers fall in love with.”

Kevin Kanegai
Companion, NKSFBGO, a division of NKSFB

Kanegai says that his agency has performed “a crucial position in serving to our clientele surpass $1 billion-plus in strategic asset gross sales and profitable enterprise exits.” Whereas serving to to determine and vet potential consumers for these property or companions for enterprise ventures, the agency has “assisted with valuations and aided in negotiating finest phrases,” he says. Though catalog offers might usually lead to “rapid generational wealth, it isn’t all the time the correct determination to promote,” Kanegai says. “Our final recommendation is predicated on many elements not restricted to excessive multiples, tax advantages and subsequent funding alternatives. Each consumer has a singular life expertise and expectation. Our recommendation is personally curated to handle every particular story.” His agency’s shoppers embody Steve Aoki, Slipknot, Becky G, Lil Tjay and Julia Michaels.

Most uncommon consumer funding: “From the extremely ingenious to absolutely the ridiculous, we now have seen all of it. Mining asteroids?”

Michael Kaplan
Managing companion, Miller Kaplan
Michael Kane
Companion, Miller Kaplan

In accordance with Kaplan and Kane, who depend Mariah Carey, Britney Spears and the Michael Jackson property amongst their star-studded roster of shoppers, a priority for a lot of enterprise managers in 2023 is the “unlucky short-term selections” some artists made throughout the pandemic. “They bought property or requested advances because of money stream points that resulted in compromising sure rights — usually solely to service their life-style throughout the COVID-19 years,” Kane says. The duo predicts higher days forward for a lot of of its shoppers: “With COVID largely within the rearview mirror, we’ve skilled a return to the touring side of our musical artists,” Kane says. “We at present have artists on world excursions, Broadway and performing in Las Vegas.”

Most uncommon consumer funding: “One consumer wished to pursue shopping for a bison farm,” Kane says. “Nevertheless, as soon as she realized the bison on these farms are slaughtered, she not had an curiosity in bison farming.”

Michael Karlin
Founding companion, NKSFB
Wallace Fortune
Matt Segal
Larry Tyler
Companions, NKSFB

The achievement by NKSFB up to now yr that Karlin highlights has been “navigating our movie and tv shoppers by means of the strikes” by writers and actors. “This implies managing spending and offering common enter. Streaming is the game-changer for theatrical, tv and music,” he says. “The sheer variety of streams continues to extend. The objective is to aim to monetize that enhance for our shoppers.”

Urgent situation: “Unsure financial circumstances, rising rates of interest, political instability,” Karlin says. “We’d like to pay attention to macro points and capable of pivot as mandatory. Being conservative with recommendation all the time pays off in the long term.”

Matt Klarberg
Managing director, MAI Capital Administration

MAI has “strategically expanded each division of our sports activities and leisure group,” Klarberg says, noting that he can present shoppers entry to an “whole suite of companies” together with monetary and retirement planning and funding administration. He has seen music catalog gross sales have an effect on the lattermost sector, noting that “it may be a useful software to drag money out after which reinvest it in different ventures.” Some shoppers have additionally invested in new AI know-how because it pertains to the music trade, which Klarberg says “has the potential … to form the best way the following era operates creatively.”

Notable shoppers: Kaskade, Tokischa, John Summit

Josh Klein
Managing companion/CEO, TKG Enterprise Administration

Since its founding in 2020, TKG has supplied its companies to shoppers reminiscent of The Chainsmokers, Anitta, Huge Sean and Charlie Puth. Klein stories that TKG has doubled in measurement within the final yr, bringing in additional shoppers and workers to assist handle its rising aspirations as an organization. Such aspirations embody the creation of a brand new royalty group inside the agency to deal with serving to shoppers acquire “their honest and equitable share of the earnings they’re due from the creation of their artwork,” Klein says.

Most uncommon consumer funding: “Skilled pickleball groups have been a scorching matter currently.”

Kristin Lee
Founder/managing director, KLBM

Lee has been increasing the enterprise administration agency she launched in 2014, with development in its Nashville workplace — which opened in 2021 — that “has spawned main alternatives which have modified the face of this agency,” she says. The highest situation her group has been managing for shoppers in 2023 has been the economics of touring. “Even top-­incomes excursions should not essentially ending as worthwhile as they might have been pre-­pandemic,” Lee says. “Rising prices coupled with unchanged ensures are hitting a few of our shoppers fairly arduous.”

Urgent situation: “The urgency to guard our shoppers’ artistry and likeness are at an all-time excessive. It’s crucial that we’re working intently with our shoppers’ authorized groups and trade guilds to make sure such safeguards. Whereas there could also be sensible use of latest applied sciences, with none assurance, all of our livelihoods are at stake.

David Levin
Managing director, DLBM, a division of Adeptus Companions

Levin — whose shoppers embody John Legend, Chrissy Teigen, Wyclef Jean, ­Estelle and Madison Beer — was promoted to managing director of Adeptus Companions’ DLBM enterprise administration division in a yr when the corporate added 4 new enterprise administration music and leisure corporations to its portfolio, representing quite a lot of musicians, producers, movie/TV/theatrical shoppers and influencers. He oversaw the roster additions of Journey, producer-performer Raphael Saadiq and, with associates Mike Nelson and Ellis Beber, Indigo Ladies and BoyWithUke, whereas serving to to construction and convey to market Hailey Bieber’s Rhode skincare line. Levin additionally notes his position in serving to to “orchestrate the resurgence and re-formation” of the multiplatinum band Dwell fronted by Ed Kowalczyk.

Urgent situation: “Similar because it ever was: Dwell inside your relative means, save since you by no means know what tomorrow brings, and pay your payments and taxes well timed.”

Matt Lichtenberg
Companion/enterprise supervisor, Degree 4 Enterprise Administration
Paul Ta
Enterprise supervisor, Degree 4 Enterprise Administration

Whereas the pandemic and strikes by Hollywood’s writers and actors have affected entertainers’ earnings streams, Degree 4 Enterprise Administration has been serving to shoppers navigate “these difficult instances and aiding with assessing their wants versus ‘needs’ to allow them to make knowledgeable monetary selections,” says Ta, who provides that the agency’s recommendation to shoppers is all the time, “Dwell inside your means.” However with touring resuming after the pandemic and customers “spending extra on VIP experiences and new pricing fashions,” he provides, touring has turn into “extra worthwhile for the acts than ever.”

Most uncommon consumer funding: “Photo voltaic farms, a laundromat, individually owned ATM machines, to call a number of,” Ta says.

Mike Merriman
President, PARR3
Bryan Gott
Director of enterprise improvement, PARR3

“We’ve spent a number of time engaged on ourselves this previous yr,” Merriman says. “Our job is busy and demanding, however we’ve intentionally made time for management coaching, off-site retreats, volunteer days and frequent worker critiques. Our large focus over the previous yr has been on empathy, which accountants usually neglect. If we’re all the time excited about the standard of our reporting and in addition the way it feels to be on the receiving finish of economic info, then we will actually serve our shoppers on the highest degree.”

Urgent situation: “We’re nonetheless pushing for extra transparency and accuracy in the best way royalties are accounted to artists, producers and songwriters,” Merriman says. “We’re inspired by the potential for AI to fix the hole, however the trade nonetheless wants the most important gamers to take motion. In the meantime, we’ll proceed our royalty looking each quarter and preserve discovering extra money for our shoppers.”

Enrique Narciso
President, ERN Advisors

Through the previous yr, ERN has labored intently with its shoppers and their attorneys to “outline the correct valuation for mental property rights as an intrinsic a part of their internet value, primarily based on the monetizing of stated property,” Narciso says. That monetization can occur “both by promoting their catalogs or figuring out the correct worth of future advances.” As catalog gross sales for artists and songwriters turn into extra widespread, “reinvesting the proceeds,” he says, is “now an important half” in an artist’s “general monetary planning.” On prime of that, he provides, “some endorsement offers are reworking into personal fairness and enterprise capital alternatives.”

Notable shoppers: Shakira, Maluma, WK Leisure’s Walter Kolm

Harley Neuman
Founding companion, Neuman & Associates, a division of NKSFB

“As we proceed so as to add music shoppers, we now have built-in our Neuman & Associates division with our guardian agency [NKSFB] greater than ever earlier than,” Neuman says. “Working with different companions and workers, with touring specialists, with royalty specialists and with tax specialists, all of whom have added worth to our follow.” The agency’s shoppers embody Melissa Etheridge, Alicia Keys, Pete Yorn, Cee Lo Inexperienced, Dave Koz, Brian Culbertson, A Nice Huge World and Good Charlotte’s Joel Madden.

Urgent situation: “Safety within the face of more and more refined events who’re continually arising with new methods to aim to entry folks’s accounts and property.”

Glenn Nordlinger
Enterprise supervisor, The Nordlinger Group

A longtime member of the Jonas Brothers’ group, Nordlinger leads one of many prime enterprise administration corporations within the music trade and says he’s continually on the lookout for ache factors his shoppers may face and areas of latest alternatives. One ongoing concern, he says, is “the price for artists to tour,” citing will increase of 1.5 to 2.5 instances over the previous few years for numerous manufacturing prices, buses, trucking, accommodations, flights and different bills. “As that is the first earnings supply for many artists,” he says, “sustaining excessive revenue margins with out sacrificing the standard of a efficiency has been extraordinarily difficult.”

Kerry O’Neil
Alvin Hagaman Jr.
Legina Chaudoin
Cheryl Harris
Sam Powers
Lynda Ragsdale
Lillian Williams
Companions, O’Neil Hagaman

The elevated consideration to catalog gross sales “has prompted significant conversations amongst our artist and songwriter shoppers,” Powers says. “These shoppers belief us to assist them perceive the catalog sale course of and uncover their work’s potential worth.” The agency’s mental property group works with each catalog consumers and sellers, Powers says, “so we deliver complete expertise to the negotiating desk. It’s very rewarding to place that experience to work for our shoppers.”

Urgent situation: “On the touring entrance, we proceed to face challenges with market saturation, provide chain and employment points,” Williams says. “Our touring artists have all the time been delicate to the followers’ skill to afford attending concert events and thus, the growing prices current a problem between the present folks can afford versus the present that artists wish to give their followers.”

Mark Pariser
Tony Peyrot
Companions, Dunn Pariser & Peyrot

Pariser highlights the agency’s work submitting claims for shoppers below the Worker Retention Credit score — a payroll tax credit score that was created as a part of the 2020 CARES Act — within the six- and seven-figure vary, in addition to making certain shoppers complied with Small Enterprise Administration spending necessities for the pandemic-era Shuttered Venue Operators Grant program. Although Pariser has not but seen a huge effect from AI, he says that low streaming charges have positively hit his nonperformer songwriting shoppers “dramatically,” with some discovering new earnings streams by engaged on TV tasks.

Most uncommon consumer funding: “Considered one of my shoppers has a son who can be taking part in lacrosse at a Division 1 school,” Pariser says. “He invested in an organization referred to as Q Collar, which is a tool worn across the neck of an athlete whereas taking part in contact sports activities.”

Murray Richman
Nathan Richman
Companions, Richman Enterprise Administration

As artists return to worldwide touring in a post-pandemic world, Nathan says his agency is making certain “we decrease the worldwide tax legal responsibility the artist has to pay in numerous international locations.” A part of sustaining that’s the royalty monitoring system that Richman Enterprise Administration has instituted, which he says ensures “each greenback is being collected precisely and well timed.” RBM can also be working to create an interactive, real-time reporting and budgeting system to “permit the artist to see the profitability of a tour and make changes as required.”

Urgent situation: “The rise of fraudulent exercise is prevalent and a significant concern,” Nathan says. “That is within the type of unauthorized bank card transactions, fraudulent examine writing and electronic mail and cellphone hacking, to call a number of.”

Phil Sarna
Founder/senior managing director, PS Enterprise Administration
Amy Gittleman Blom
Tara Moore
Patrick Templeman
Managing administrators/companions, PS Enterprise Administration
Andrew Britton
Managing director, PS Enterprise Administration
Abner Monegro
Director, PS Enterprise Administration
Amy Hertz
Senior supervisor, PS Enterprise Administration

Sarna, who based PS Enterprise Administration in 2002, has since expanded the corporate’s experience to incorporate enterprise administration, accounting, monetary advisory, monetary planning, and royalty and licensing companies and broadened its attain to Los Angeles, Nashville and New Orleans. And for the entire difficulties surrounding the pandemic, Sarna says the agency has encountered a development since “many artists discovered the teachings that enterprise managers have all the time preached: Be good along with your cash.” In consequence, he provides, artists are asking for extra info and are extra snug having greater conversations about their funds.

John Shaheen
Companion, Enterprise Wealth & Tax Administration

“For us, this yr has been about maximizing income by means of earned and unearned earnings alternatives and concurrently serving to to attenuate taxes and bills by way of short-term and long-term planning,” says Shaheen, whose agency works with Afrofusion celebrity Burna Boy, rapper Rico Nasty, director Gibson Hazard and administration agency The Revels Group. Within the final yr, Burna Boy grew to become the primary Nigerian artist to headline New York’s Madison Sq. Backyard and Citi Area, whereas Hazard directed the music video for Lil Uzi Vert’s Billboard Hot 100 prime 10 hit, “Simply Wanna Rock,” and the brief movie for Metro Boomin’s Billboard 200-topping album, Heroes & Villains. “We’ve been working extra intently with funding advisers,” Shaheen says, “and proceed to assist the neighborhood by means of our affiliations with numerous charitable organizations and foundations.”

Most uncommon consumer funding: “A Dolce & Gabbana two-slice toaster.”

José A. Silva
Managing companion, Grupo Silva

For Rauw Alejandro’s 2023 Saturno world tour — which grossed over $50 million in income throughout the US, Canada, Mexico and Europe, in accordance with Silva — his agency structured the monetary course of, bookkeeping, vendor relationships, venue settlements and taxes. Moreover, Silva says the agency “has been engaged on serving to impartial labels together with label administration to offer them with the preparation and reporting of royalty statements, mechanical licenses and evaluation of earnings ledgers.”

Notable shoppers: Wisin, ­Cosculluela, Zion, Paco López, La Base, Duars Leisure

Alex Smith
Companion-in-charge of enterprise administration, Mann Gelon Glodney Gumerove Yee
Justin Sroka
Companion, Mann Gelon Glodney Gumerove Yee

The addition of latest workers specializing in royalties, touring and insurance coverage has helped Mann Gelon Glodney Gumerove Yee higher serve its music shoppers. At present’s tempestuous monetary panorama — specifically hovering prices and rising rates of interest — places a premium on sound steering. “The overall well being of the financial system is requiring enterprise managers to plan additional forward and handle consumer expectations about their funds,” Sroka says. He provides that one present problem is rising rates of interest, which have affected once-soaring catalog valuations and shoppers’ skill to entry liquidity from their music property.

Most uncommon consumer funding: “Single-edition musical recordings from iconic artists,” Smith says.

Thomas St. John
CEO, Thomas St. John
Krister Axner
Head of authorized, Thomas St. John
Pieter Dunselman
Director, Thomas St. John
Luke Henning
Nina Nguyen
Enterprise managers, Thomas St. John

The managers at Thomas St. John are pleased with their newly revamped procedures that present shoppers with best-in-class accounting, which incorporates the event of a platform for real-time monetary reporting for performers and their groups far past present trade requirements, in accordance with St. John. They’ve additionally added AI auditing and course of automation, which has resulted in music shoppers coming in “below finances with a typical 20% enchancment in internet earnings,” he says. He provides that the cutting-edge know-how is “unshackling our folks from keypads and permitting us to deal with what shoppers actually need: deep perception, objectivity and frictionless service.”

Urgent situation: “The exodus of certified [certified public accountants] not simply from enterprise administration however the accounting trade typically,” St. John says. “Lengthy hours, lackluster wages and growing consumer calls for have pushed prospects into different fields and industries.”

Charles Sussman
President, Sussman & Associates

Sussman is watching the “escalation within the mechanical and streaming charges, which is able to influence the long-term worth of catalogs,” he says. Sussman notes that inflation is a very urgent situation for touring along with securing each tools and personnel to placed on reveals. The inventory market’s instability is regarding as properly, as it might probably doubtlessly have a detrimental impact on his shoppers’ retirement plans, he provides.

Notable shoppers: Bon Jovi, Jessica Simpson, Bette Midler, Megadeth, Miley Cyrus, Noah Cyrus, Low-cost Trick

Lou Taylor
Founder/CEO, Tri Star Sports activities & Leisure Group

Tri Star just lately took a technological leap with the creation of its personal laptop working system, Star Lynx, to serve enterprise administration corporations and monetary advisers for high-net-worth households. “We additionally developed our personal app, which permits shoppers to see their account balances, transactions and monetary info in actual time,” Taylor says. “We’re actually pleased with what we now have achieved by creating our personal tech as a way to serve our shoppers higher.” One development that considerations Taylor is the current drop in enterprise capital investments. “That’s necessary as a result of the artistic neighborhood are true entrepreneurs with no lack of concepts, so the tightening and accessibility to capital has actually precipitated everybody to work more durable.” As well as, she notes, “the final influence of inflation, rising rates of interest and market volatility requires a continuing realignment of targets, needs and requirements.”

Notable shoppers: Whereas Tri Star retains its roster confidential, present music shoppers who’ve been linked to the agency embody Justin Bieber, Reba McEntire, Cardi B, Mary J. Blige, Sean “Diddy” Combs and Meghan Trainor.

José Juan Torres
Founder, Torres

With a consumer roster that features Unhealthy Bunny, Residente, Camilo, Villano Antillano and report label La Buena Fortuna, Torres is concentrated on reshifting priorities to keep up monetary well being. “It has been a shift of economic property into cash-related merchandise. We’ve seen loads of funding alternatives for these shoppers with wholesome money flows because of rising rates of interest,” says Torres, who has additionally had development in actual property property. It’s all a part of a “take possession of your corporation” strategy that Torres espouses for artists, given the “considerably low royalty charges supplied by streaming companies.”

Urgent situation: “Retaining monitor of all content material monetization. There are various income streams and with the ability to preserve visibility throughout all of them is extraordinarily difficult.”

Sally Velazquez
Founder/president, Empower Enterprise Administration

As marquee shoppers at Empower, 21 Savage is planning his first European tour (after getting his inexperienced card) and Tinashe has secured a brand new label cope with Good Life Recording Firm, the place she “maintained artistic management over her model and music,” says Velazquez, who additionally counts iann dior, jxdn, Dinah Jane and Amber Rose amongst her shoppers. Inventive management and her shoppers’ earnings are prime of thoughts for the manager, particularly with the rise of AI. “Whereas AI can help with including worth to the manufacturing processes,” she says, “our artists might discover competitors in AI-generated content material, doubtlessly influencing their earnings streams.”

Most uncommon consumer funding: “Pokémon playing cards. Oh, the conversations that have been had about this one.”

Rit Venerus
Founder/senior managing director, Cal Monetary Group
Butch Gage
Dan Goscombe
Managing administrators, Cal Monetary Group
Sarah Dellimore
Amy Self
Administrators, Cal Monetary Group

Cal Monetary’s shoppers, which embody Dave Matthews Band, The Lumineers, ODESZA, Goose, Grupo Frontera, John Mayer and Useless & Firm (which concluded its ultimate tour in July), all efficiently returned to the street following the pandemic. However now the agency is grappling with how unstable climate circumstances are affecting outings. “We’ve continued to see local weather change impacting the enterprise increasingly,” Venerus says. “From when and the way shoppers tour to the predictability of journey, climate round stay occasions or insurance coverage firms pulling out of sure markets, local weather change will proceed to be an evolving problem for our enterprise.”

Most uncommon consumer funding: “If I needed to say, possibly U.S. Treasury payments? Whereas that doesn’t sound uncommon, we haven’t seen charges [of return] this excessive in 20 years. So the quantity of exercise round Treasurys within the final yr has at the least felt very uncommon.”

Invoice Vuylsteke
Scott Adair
Managing companions, Provident Monetary Administration

Vuylsteke and Adair are significantly pleased with merging their respective Provident Monetary Administration and London & Co. firms to create “the perfect-size agency… sufficiently big to matter and sufficiently small to care,” Vuylsteke says. Trying forward, he cites the touring trade as a renewed supply of earnings for shoppers, however he warns of “tight assets and rising prices” affecting transportation and personnel. He says, “Our shared experience and synergy are a fantastic profit for current and new shoppers as properly.”

Urgent situation: “Taxes — home and international,” Vuylsteke says. “Elevated charges, complexity, lowered deductions and inconsistency in international territories.”

David Weise
Founding companion, David Weise & Associates, a division of NKSFB
Jaime Masuda
Beth Sabbagh
Rob Salzman
Companions, David Weise & Associates, a division of NKSFB

Weise has been providing monetary steering to 3 main worldwide excursions by shoppers whose identities he has saved confidential. He has additionally closed catalog offers for shoppers together with “an iconic producer,” in accordance with the corporate. Masuda notes the significance of specializing in retention and improvement of workers “that actually care about their shoppers’ monetary well-being.” Sabbagh says that the “safety of our shoppers’ property has all the time been a major focus, however by no means extra so than with the current points within the banking trade.” Provides Salzman: “It’s a race combating inflationary pressures, and being curiosity rate-conscious every time aiding shoppers with monetary selections or managing liquidity is past necessary.”

Dan Weisman
Principal, Bernstein’s Sports activities and Leisure Group
Adam Sansiveri
Senior managing director of Nashville/co-head, Bernstein’s Sports activities and Leisure Group
Stacie Jacobsen
Nationwide director/co-head, Bernstein’s Sports activities and Leisure Group

Bernstein’s Sports activities and Leisure Group oversees greater than $4 billion in property below administration for its U.S. artist and athlete shoppers. Its funding platform and proprietary analytics additionally provide shoppers unique various investments and assist them predict the outcomes of main monetary selections. “We’ve a seat on the desk to advise round complicated monetary selections and work with every artist to customise a street map to achieve their definition of success,” Sansiveri says. “There’s a huge shift in artists eager to spend money on extra options, like personal fairness, however getting them entry to the alternatives the place probably the most refined establishments are additionally investing is one thing that has set Bernstein aside lately.”

Urgent situation: “Plenty of artists are making extra money now than they might have a decade in the past, however for probably the most half, there’s a smaller ‘center class’ left within the music enterprise,” Sansiveri says. “Macroeconomic elements reminiscent of excessive rates of interest and inflation are impacting the music trade in a method they by no means have earlier than.”

Kris Wiatr
President, Wiatr & Associates
Sarah Hamner
Kim Olson
Valerie Shelton
Companions/senior vps, Wiatr & Associates

“The psychological well being of the leisure trade as a complete post-pandemic” is among the large points enterprise managers are going through proper now, in accordance with Hamner. “The pandemic and stop of labor and earnings not solely created an uptick of people’ anxiousness and concern of economic instability, nevertheless it additionally delivered to mild different psychological well being points that beforehand might have been ignored.” To assist fight monetary instability, says Wiatr — whose shoppers embody Mick Fleetwood and HARDY — it’s necessary to emphasize “educating shoppers to be the CEOs of their companies” and being “intentional with their spending in order that the cash lasts.”

Urgent situation: “One of many issues our agency makes a precedence is establishing worker profit packages for band and crew when the artist’s firm is in a spot to supply them,” Hamner says. “When our artists can provide their workers medical insurance and/or a 401(okay) plan, it not solely advantages the workers but additionally provides the consumer a tangible strategy to maintain their workers, which advantages them as a boss and chief.”

Dwight Wiles
President, Wiles + Taylor & Co.
Robert Taylor
Vp, Wiles + Taylor & Co.
Kevin Dalton
Steve Eggart
Enterprise managers, Wiles + Taylor & Co.

In a yr largely outlined by getting again to enterprise post-pandemic, the group at Wiles + Taylor & Co. seemed towards the long run greater than the previous. Whether or not analyzing the rise of profitable impartial artists or questioning the enterprise technique of promoting an act’s catalog, Eggart says the corporate has targeted in current months on discovering new sources of economic success for its roster. “We’re bullish on streaming charges and different income sources growing,” he says. “[We] imagine the worth of our shoppers’ property will proceed to develop as properly.”

Urgent situation: “The rising prices of touring in all manufacturing/transportation areas may be very difficult,” Eggart says. “Although ticket revenues are on the rise, attaining pre-pandemic revenue margins is troublesome with out vital adjustments in an artist’s touring configuration.”

Colin Younger
Founder, C.C. Younger

Younger has saved rising his agency — which now counts a workers of 38, up from 25 final yr — as touring has continued to awake from “its COVID slumber,” with C.C. Younger offering “enterprise administration, tax mitigation and tax utilization for the very largest excursions on the earth,” he says. However the agency has additionally been devoted to offering its shoppers with probably the most clear royalty accounts within the enterprise, significantly within the digital realm as YouTube, TikTok and digital service suppliers proceed to develop. “We have to supply DSP information and never be pushed again with the generic, ‘Sorry, not accessible below our [nondisclosure agreement],’ ” he says. “We audited $53 million of royalty earnings and carried out our first audit that reached 100% pattern measurement — the trade commonplace is 7%.”

Most uncommon consumer funding: “Gold bullion — buried within the backyard.”

Invoice Zysblat
Co-founder/managing companion, RZO
Tom Cyrana
Lila Candy
Companions/managing administrators, RZO

RZO has distinguished itself among the many prime tier of enterprise administration corporations with its sole deal with the monetary wants of artists — “no managers, brokers, executives, labels, merchandisers or publishers,” Zysblat says — and it stands aside, given the stature of these artists.

Shopper U2 helped launch a state-of-the-art venue with its residency at Sphere in Las Vegas that started in September. One other consumer, The Rolling Stones, launched its first album of latest songs in 18 years with the arrival of Hackney ­Diamonds in October. A 3rd consumer, Girl Gaga, guested onstage with each bands.

Steely Dan, David Byrne, Luis Miguel, Shania Twain, Sting, Yoko Ono and the estates of John Lennon and David Bowie, amongst others, additionally work with RZO. And the agency just lately added the property of Tom Petty to its roster.

“Anytime you’ve obtained an artist that defines a specific lane in music, it’s great to be part of it — to get the following era to know what the music is,” says Zysblat, who notes he has been a Petty fan since seeing him at The Backside Line in New York in 1977.

Two years earlier, in 1975, Zysblat and his late enterprise companion, Joe Rascoff, started advising the Stones — on what was then stated to be the group’s final tour — and so they shaped RZO in 1988. Zysblat is acknowledged amongst Billboard’s prime enterprise managers this yr together with RZO companions/managing administrators Cyrana and Candy. (Former companion and fellow honoree John Gula has retired since final yr’s checklist.)

With 4 a long time of experience within the economics of touring, Zysblat says: “The final yr might be outlined by two phrases — dynamic pricing.” Adjusting live performance ticket costs primarily based on demand has resulted in performers, not scalpers, incomes prime {dollars}, and “I feel it’s completely acceptable now to cost market worth on a restricted variety of tickets,” he says.

And the demand for stay music? “By no means greater,” he says. “Everybody’s on the street. Our shoppers are doing the perfect enterprise they’ve completed of their careers.” That’s regardless of touring prices which are greater than ever.

Whereas RZO’s shoppers embody a few of the most enduring acts in standard music, Zysblat acknowledges not all artists may have such lengthy careers.

“My message is all the time the identical,” he says. “Aside from a handful of artists, it doesn’t go on endlessly. So avoid wasting cash. Critically, put some cash away in order that when it doesn’t go on endlessly, you may have an honest life. Save sufficient cash in order that it throws off sufficient [investment] earnings you could stay. After which if you wish to piss away the remainder, knock your self out.”

Contributors: Nefertiti Austin, Starr Bowenbank, Anna Chan, Leila Cobo, Stephen Daw, Elizabeth Dilts Marshall, Invoice Donahue, Thom Duffy, Griselda Flores, Lyndsey Havens, Gil Kaufman, Steve Knopper, Elias Leight, Heran Mamo, Taylor Mims, Melinda Newman, Jessica Nicholson, Glenn Peoples, Ronda Racha Penrice, Sigal Ratner-Arias, Isabela Raygoza, Kristin Robinson, Jessica Roiz, Dan Rys, Crystal Shepeard

Methodology: Nominations for Billboard’s government lists open a minimum of 150 days prematurely of publication, and a hyperlink is shipped to press representatives by request earlier than the nomination interval. (Please electronic mail thom.duffy@billboard.com for inclusion on the e-mail checklist for nomination hyperlinks and for tips on how to acquire an editorial calendar.) Billboard’s Prime Enterprise Managers for 2023 have been chosen by editors primarily based on elements together with, however not restricted to, nominations by friends, colleagues and superiors, in addition to music trade influence of cited shoppers. That influence is measured by metrics together with, however not restricted to, chart, gross sales and streaming efficiency as measured by Luminate and social media impressions utilizing information accessible as of Oct. 3.

This story originally appeared in the Nov. 18, 2023, issue of Billboard.