DAVID ISRAELITE, 49
President/CEO, National Music Publishers’ Association
CARY SHERMAN, 69
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.”