The veteran attorney on streaming royalties, revenue models and industry prospects under President Trump.
ON THE FRIDAY OF GRAMMY week, when Elliot Groffman received the Entertainment Law Initiative Service Award, he used his speech as an opportunity to reflect on just how much the music business has changed. “The economic model that I grew up with in the ’80s and ’90s has blown sky high,” says Groffman, a partner at Carroll, Guido & Groffman LLP who represents the Dave Matthews Band and Pearl Jam, among others. At the same time, Groffman’s advice for acts wouldn’t have sounded out of place 20 years ago: “If you have any leverage at all in a deal, keep [the term] as short as possible.”
Transactional lawyers like Groffman now find themselves representing bands in the brave new world of streaming, with its opaque royalties and unsettled economics. Streaming revenue is spurring the kind of growth in the recorded-music business that hasn’t existed for more than a decade. But it remains to be seen how much that growth will benefit artists — especially those without pop hits. “The question is, Is streaming a sustainable business model where labels and everyone are sharing in an equitable way with the artists?” asks Groffman. “This has always been an issue, from vinyl to CDs.”
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The Three Amigos
A rowdy trio raised together in North Atlanta, Migos cut a singularly now path to pop stardom: STEP 1 Launch a dance craze. STEP 2 Score a No. 1 with the help of a meme. STEP 3 Spend Grammy night partying with superfans Chance the Rapper and Chris Brown — as Billboard tags along. “I try not to be cocky,” says Takeoff, “but hey, we the shit, man”
California's Hero Of Cannabis Legalization
Lieutenant governor Gavin Newsom has rock star friends, his own clubs and a progressive agenda that got his state’s landmark Proposition 64 legislation passed — and the music industry rallying behind him
The Green Album
As vinyl sales hit a nearly 30-year high, Slightly Stoopid’s managers create a novelty that music-loving potheads could only dream of: an LP made entirely of hash
Simon Cowell, the Svengali's Second Act
From 1D to Fifth Harmony, the TV and music mogul owns pop culture. Now 56, he’s going in front of the camera again as he heads to America’s Got Talent, talks Harry Styles solo, plays with his 2-year-old son and reveals a certain sentimentality about American Idol: ‘I like to torture myself’
Twenty One Pilots on Their Musical Bromance and Fleeting Fame
Twenty One Pilots have blown up at top 40 radio, sold out massive arenas and even drawn the ire of millennial-bashing columnists with an unapologetic mashup of suburban angst, rap and reggae. But to Tyler Joseph and Josh Dun, all that matters is their bond - with each other and their (millennial) fans. “It probably seems like two good-looking guys making pop music. But really it’s just the opposite.”
Gone Girl
Camila Cabello Kicked Off Her Solo Career and Her Band Sisters in Fifth Harmony Unexpectedly Denounced Her for It. Now She’s Got a Top Five Single, a Much-anticipated Album Coming and Zero Second Thoughts: “you Have to Honor That Inner Voice”
The Rise And Fall And Rise Of Nicky Jam
Born in the USA, catapulted to teen fame in Puerto Rico and practically washed up by his 20s, Nicky Jam went to Medellín, Colombia — a city haunted by its drug kingpin past — to find sobriety, love and greater-than-ever success. Billboard spends 48 hours with the reggaetón superstar in his adopted home as he prepares for his wedding — and, oh yeah, scores a No. 1 Latin album
Fifth Harmony: Pretty Little Fighters
Girl groups were supposed to have been kaput when The X Factor threw together five ambitious teens with hard-knock childhoods. But as Fifth Harmony finally attains the upper reaches of the Hot 100, the tight-knit group finds itself “traumatized” by the strain of prepackaged fame, isolated from family and struggling to stay balanced. Now, they’re eager to assert their opinions on the industry, politics and Kanye West: “We finally have a damn voice.”
Jennifer Nettles: A Star Goes Back To Her Roots
Four years after Sugarland’s split, Jennifer Nettles is supporting Hillary and advocating for female artists (bro country be damned): “It’s in my blood”
Life's Been Good To Niall (So Far)
A year-and-a-half ago, Niall Horan was basking in the shrieks of One Direction superfans. Now, with the group in limbo and his mates making moves in everything from R&B to acting, “the cute one” is painstakingly crafting an album as a California rocker — and hanging with astronauts, Selena Gomez and (yes) the Eagles. All while staying truly hashtag-humble: “I’m a simple old soul, me”
