Stocks have risen, interest rates have fallen, inflation has cooled, music catalog sales continue apace — and concert ticket prices have gone sky-high.
The rise of artificial intelligence platforms has also drawn the attention of business managers. “The use of AI music generator tools, in particular, has driven heightened concerns around copyright protection and the potential negative impact to royalty streams,” says Thomas St. John, CEO of Thomas St. John Group.
This year, we also acknowledge that one of the most important money moves can be giving it away. Business managers were invited to name the charities they personally support, often in response to dramatic needs. Kim Petras, who teamed with The Chainsmokers for the September release of the track “Don’t Lie,” is among the business management clients of Fineman West & Co.As new technology and business models shape the music business, Cruz says his firm has adjusted its services to respond to the needs of its clients. Among those the company works with is Ozuna, the Latin star whose music video for “El Farsante” surpassed 1 billion YouTube views in May.
Chris Stapleton, who won male artist of the year at the 2024 Academy of Country Music Awards, draws on the business management expertise of Kris Wiatr of Wiatr & Associates in Nashville.Throughout 2024, Eggart says he has noticed an increasing desire among artists on his firm’s client roster to remain professionally independent of major music companies — and that they’ve been “having incredible success” as a result.
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