Business

No. 93: David Israelite & Cary Sherman | Power 100

93

DAVID ISRAELITE, 49

President/CEO, National Music Publishers' Association

CARY SHERMAN, 69

Chairman/CEO, RIAA

Last Year's Rank:  95

MUSIC'S KEY MEN IN WASHINGTON: As the music business continues its streaming-fueled turnaround -- U.S. revenue in the first half of 2017 was up 17 percent compared with the same period in 2016 -- Israelite and Sherman's litigation and regulatory work has become more important than ever.

NAVIGATING THE FINE PRINT: Both men spent 2017 involved in negotiating rate-setting procedures, including one that mandated SiriusXM pay almost 41 percent more for recorded music. And the NMPA spent several months, and over $10 million, litigating the royalty rates that will be paid by on-demand digital streaming services during the next five years.

BIGGEST ISSUE THE INDUSTRY FACES: Sherman "Stream ripping. It's trending up, and we want it to trend down because it hurts download sales and streaming revenue, which is the new business model."

Billboard Power 100 2018