Business

No. 72: John Josephson, Randy Grimmett | Power 100

72

JOHN JOSEPHSON, 56

Chairman/CEO, SESAC

RANDY GRIMMETT, 49

CEO/partner, Global Music Rights

Last Year's Rank: 68

LEVELING UP: 2017 was a big year for both of these performing rights organizations, with SESAC sold to investment firm The Blackstone Group, for a reported $1 billion, while GMR in its fourth year “went from being deficit-financed by Irving Azoff and [the Madison Square Garden Co.] to being a self-sufficient business,” says Grimmett.

LITTLE BIG SOUND: While GMR is intent on keeping its invitation-only list of 85 writer clients, SESAC -- a boutique among PROs at 40,000 strong -- lured Adele into its fold and set its sights on serious global expansion. “We’re licensing in multiple geographic territories and plan to be a worldwide platform offering an expanded universe of rights,” says Josephson. “The closer you can get to being a one-stop shop, the more valuable you are to rights holders.”

Billboard Power 100 2018