Partners, Entertainment & Business Management, Citrin Cooperman
Erk sees income for music talent snowballing from touring, which offsets weak recording revenue that is slowly rebounding, while income for songwriters and music publishers remains robust. For concert work, “our goal as a business manager is to get touring costs incurred by our clients under control so this way they can put money in their pockets,” Erk says. He handles music clientele for traditional business management, and is in charge of the royalty compliance group, working audits for the late Michael Jackson, KISS, Meat Loaf and Bruce Springsteen. Herrmann leads the firm’s entertainment management group with clients who are actors, writers and directors. Wander covers musicians, songwriters, producers, Hollywood talent, production companies, talent agencies, and stylists, including singer-songwriter Gavin DeGraw and stylist Micaela Erlanger. Wlodinguer leads the firm’s music business management and touring practice. Clients include Ben Folds, Interpol, Q Prime (personal managers), Snow Patrol, the Strokes and Thievery Corporation.
Trump Tax Cut: The lifetime exclusion for gift and estate as tax-free grants was doubled to nearly $11 million, so Herrmann advises making such next-generation gifts “sooner rather than later.”