WASHINGTON – Recording Industry Association of America (RIAA) Chairman and CEO Cary Sherman today announced the promotion of Steven M. Marks to the newly created position of Chief, Digital Business & General Counsel. Previously Marks served as Executive Vice President & General Counsel. Marks will continue to report to Sherman.
As Chief, Digital Business for RIAA, Marks will oversee industry-wide initiatives to help grow the digital music marketplace and the new revenue streams that are increasingly critical to the music business. Marks will continue to serve as lead negotiator to establish streamlined, industry-wide licenses, as well as to represent the major music labels in many legislative and regulatory proceedings. Marks led the creation of the license for Internet radio and other services now administered by SoundExchange, and serves as Chair of SoundExchange’s Licensing Committee and on its Board of Directors. Recently, Marks was instrumental in establishing a historic industry-wide licensing agreement between music labels, songwriters, digital music services, and mobile phone companies that set new royalty rates for several cutting-edge new digital music models. He will also continue to oversee the organization’s legal, litigation, business affairs, and technology departments.
“The music business has transformed itself from a predominantly physical industry a decade ago to one in which 60 percent of our revenues are now derived from digital platforms,” said Sherman. “And as we increasingly become a predominantly digital business, we need a leader like Steve who can navigate the complex web of licensing issues with knowledge and ease so that innovation and music creativity can continue to flourish.
“Steve has been at the forefront of these issues for more than a decade,” continued Sherman. “Few understand the complexity of the business like he does, and I’m delighted to announce his promotion and new title.”
Marks was chosen by Inside Counsel magazine as one of the Top 50 General Counsels in the United States. Before joining RIAA, Marks was in private practice at Arnold & Porter in Washington, D.C. and Steel Hector & Davis in West Palm Beach, Florida. Marks represented commercial, technology, and media and entertainment clients on First Amendment, intellectual property, employment and commercial matters.
Marks graduated from Duke Law School where he was Articles Editor of the Duke Law Journal. Upon graduation, he served as a law clerk to the Honorable Mary M. Schroeder of the U.S. Court of Appeal for the Ninth Circuit. He received his B.A. from Duke University.
The Recording Industry Association of America (RIAA) is the trade organization that supports and promotes the creative and financial vitality of the major music companies. Its members comprise the most vibrant record industry in the world. RIAA® members create, manufacture and/or distribute approximately 85% of all legitimate recorded music produced and sold in the United States.
In support of this mission, the RIAA works to protect the intellectual property and First Amendment rights of artists and music labels; conduct consumer, industry and technical research; and monitor and review state and federal laws, regulations and policies. The RIAA® also certifies Gold®, Platinum®, Multi-Platinum™ and Diamond sales awards as well as Los Premios De Oro y Platino™, an award celebrating Latin music sales.
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