Beyonce and Jay Z share the top spot on Billboard’s Power 100 list.
Universal Music Group CEO Lucian Grainge and Red Light Management founder Coran Capshaw follow the performers on the annual list of most influential people in the music industry.
Grainge and Capshaw placed first and second last year, respectively.
Billboard editors compiled the list after analyzing market share, revenue and other data.
Jay Z and Beyonce each founded their own companies, Roc Nation and Parkwood Entertainment.
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