Billboard 2026 Power 100: Music Industry Navigates AI, Streaming Evolution, and Creator Rights

The 2026 Billboard Power 100 List has been unveiled, showcasing the influential figures at the forefront of a rapidly evolving music industry. As the concert and streaming sectors continue their ascent, a new dynamic emerges with billions of dollars being invested into artificial intelligence. This shift presents a historic opportunity for rights holders to elevate the value of music to unprecedented levels. The top 40 individuals featured on this year's list are lauded for their leadership in forging strategic alliances with burgeoning technology giants, aiming to redefine fan interaction with artists and their beloved songs.

Universal Music Group's AI and Streaming Strategy with Austin Hargrave

Austin Hargrave, Chairman and CEO of Universal Music Group (UMG), stands out as a pivotal figure, having shaped the modern streaming business and, more recently, steering the music industry into the era of artificial intelligence. Over the past decade, Hargrave has not only led UMG but also emerged as an unofficial industry leader, particularly in addressing new business models. He has championed an "artist-centric" royalty model to improve payouts to rights holders and has been instrumental in defining AI as both a challenge and an opportunity for the music sector.

UMG has proactively confronted AI’s potential for competition and dilution of royalty pools. In October 2023, UMG and other music publishers initiated legal action against AI company Anthropic for copyright infringement, and in June 2024, UMG, alongside other major labels, sued AI music services Udio and Suno for allegedly using their recordings without licenses. However, a significant turning point occurred with UMG’s October 2024 deal with Udio (Warner subsequently signed similar deals, while Sony's lawsuits against both companies remain ongoing, as does UMG’s against Suno). This agreement allows Udio to train its AI model on UMG-controlled recordings and compositions, with the option for performers to opt-in for the use of their voices and styles. Music generated by users within this framework will remain in a "walled garden," limiting its direct competition with UMG artists on streaming services. UMG's strategic partnerships also extend to Stability AI, Splice, and in early 2026, the AI-focused microchip giant NVIDIA, underscoring Hargrave’s philosophy that the company must "lean in" and actively shape the future rather than ignore new technologies, as detailed in his New Year’s internal memo. He emphasizes the importance of safeguarding creators' rights and advocating for the music industry's interests on a global stage, including lobbying efforts in the United Kingdom to protect copyright law Billboard.

Evolving Streaming Economics and Creator Support

Beyond AI, Universal’s strategy includes adjusting streaming economics to protect established artists from the impact of a growing volume of music, both human and AI-generated, on royalty pools. Hargrave's influence helped solidify the "artist-centric" model, and the company is now pursuing "Streaming 2.0." This initiative aims to build upon the artist-centric approach by disqualifying "AI slop" and increasing average revenue per user, benefiting not only UMG but also other labels and rights holders. UMG secured new deals with Amazon in late 2024, Spotify in early 2025, and YouTube in fall 2025. The January 2026 agreement with NVIDIA promises to further enhance streaming services by "elevating discovery, engagement and consumption beyond current constructs of search and personalization." Richard Kerris, NVIDIA's VP/GM of Media, commented that this partnership ushers in an era where a music catalog can be explored "like an intelligent universe — conversational, contextual and genuinely interactive," turning advanced technology into a significant future business opportunity.

Sony Music's Global Expansion and Artist-Forward Approach

Sony Music, under the leadership of Dane Isaac, continues its impressive growth trajectory. Isaac emphasizes the necessity of expanding horizons beyond just chasing the number one record, especially with the influx of music into the marketplace and the impending impact of AI. In 2025 alone, Sony's company closed 65 label, publishing, and distribution deals worth over $2.5 billion. Despite breakthroughs like The Orchard-distributed Bad Bunny being Spotify’s most-streamed artist in 2025, Rosalía setting a single-day Spotify record for a Spanish-speaking female with 42.1 million streams, and the Oasis reunion tour, Sony remains in growth mode. The company is actively expanding its footprint in Latin America, Asia, and Eastern Europe, recognizing the global success of genres like K-pop and reggaetón. Sony has reported nine consecutive years of revenue growth, averaging 14.7% annually over the last four years, surpassing the market rate of 11.3%. MiDIA Research recognized Sony Music as the fastest-growing major label in the first half of the decade. Isaac also prioritizes new ways to support creators through artist- and songwriter-forward initiatives, stating, "My view is that you eventually pay if you don’t do the right thing" Billboard.

Live Nation's Record-Breaking Year and Ticketing Innovations

Sebastian Artz, President and CEO of Live Nation, celebrated two decades of leadership in 2025, a year characterized by record-breaking achievements. Live Nation promoted massive stadium tours for artists like Coldplay, Beyoncé, Oasis, Kendrick Lamar, and SZA, welcoming an estimated 160 million fans. The company’s revenue for the first nine months of 2025 reached $18.9 billion, and it dominated the Billboard Boxscore year-end Top Tours chart with nine entries in the top 10. Live Nation also expanded its workforce, adding 3,000 new roles and 18,000 seasonal hires, while enhancing its "Taking Care of Our Own" employee benefits plan with improved crisis and mental health support, new sabbaticals, and more resources for part-time club staff. These successes occurred despite ongoing legal challenges from the U.S. Department of Justice and the Federal Trade Commission, which in September 2025, alleged manipulation in ticket resales by Live Nation and Ticketmaster.

Artz, however, remains focused on improving the fan experience. In October 2025, tech innovator and former Square executive Saumil Mehta was appointed as Ticketmaster’s global president. Mehta’s mandate, according to Artz, is to "use AI to transform the Ticketmaster experience," making the fan journey more intuitive and providing artists and venues with smarter tools for tour and show management. Live Nation fully supports the UK government's ban on selling tickets above face value, a practice Ticketmaster already implements in that region. When asked about a similar ban in the United States, Artz affirmed his support, stating, "We believe artists should control how their tickets are sold and resold — that’s why we built the Face Value Exchange, which any artist can use." He emphasized the need for "clear rules and real government enforcement" to combat bad actors effectively, acknowledging that "one platform can’t solve this on its own" Billboard.

Spotify's Leadership Transition and Future Vision

The year 2025 marked a significant leadership transition for Spotify. Co-founder and CEO Daniel Ek announced his decision to step down at the end of the year, transitioning to an involved role as executive chairman. Ek was succeeded by co-CEOs Norström and Söderström, who previously served as co-presidents tasked with business operations. While AI and licensing agreements were ongoing discussions, the major news for Spotify revolved around this internal restructuring, positioning the company for its next phase of growth and innovation.