Beyoncé 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 analysing market share, revenue and other data.
Jay Z and Beyoncé each founded their own companies, Roc Nation and Parkwood Entertainment.
Justin Bieber’s manager, Scooter Braun; music producer Dr Luke; Spotify CEO Daniel Ek; recording executive Jimmy Iovine; and Ryan Seacrest also made the list.
