Benny Blanco Honors Phil Sarna as Business Manager of Year

The crucial role of business managers in navigating the complex financial landscape of the entertainment industry was brought into sharp focus at the recent Variety Business Managers Breakfast, presented by City National Bank. Held on November 13 in West Hollywood, the event celebrated the invaluable contributions of these financial stewards, with a particular highlight being the recognition of Phil Sarna, Senior Managing Director and Founder of PS Business Management, who received the prestigious Business Manager of the Year Award. The award was presented by acclaimed music producer and songwriter Benny Blanco, whose introduction underscored the profound impact Sarna has had on his career, humorously stating, “Thank you for making us not lose all of our money.”

Phil Sarna: A Journey in Financial Stewardship

Phil Sarna’s journey in financial management for creatives is a testament to vision and dedication. He launched PS Business Management, his own firm, in 2002. Since then, it has grown to represent an impressive roster of leading names across music, film, television, sports, and fashion. His clientele includes globally recognized artists such as Billie Eilish, Lizzo, Chappell Roan, Benson Boone, and the iconic band Duran Duran.

Benny Blanco himself shared a personal anecdote that vividly illustrates Sarna’s early belief in him. Blanco recounted meeting Sarna with just $26,000 in his bank account, questioning if he had enough to invest. While initially met with a laugh, Sarna “saw something” in Blanco and took him on as a business manager, a decision that proved pivotal for the producer’s burgeoning career.

The Multifaceted Role of a Business Manager

Accepting his Business Manager of the Year award, Phil Sarna reflected on the unique challenges and rewards of his profession. Addressing a room filled with his peers, he acknowledged the significant time spent alongside artists, serving their diverse needs. “We spend a good chunk of our adult life together in service to great artists. It’s been challenging, but fun. It’s unbelievable that this is our jobs,” Sarna remarked.

Sarna elaborated on the breadth of responsibilities that extend far beyond traditional accounting and finance. His tasks have ranged from assisting clients in launching new businesses to providing support through personal crises, including helping clients navigate rehabilitation programs. He candidly admitted that his formal education in business school, accounting, and finance had not fully prepared him for the “unique experience” that managing the lives of creatives entails, highlighting the deeply personal and often unconventional nature of the role.

Insights from the Variety Business Managers Breakfast

The event also featured other prominent voices from the entertainment industry, underscoring the broader ecosystem in which business managers operate.

SAG-AFTRA Foundation’s Vital Support

Actor Courtney B. Vance, who serves as president and chairman of the board at the SAG-AFTRA Foundation, delivered remarks on the organization’s crucial mission. He emphasized its dedication to providing actors with essential resources for professional development and personal support. Vance highlighted the foundation’s belief in the “duty and obligation to help those in need within our own entertainment industry community,” acknowledging the indispensable role business managers play in enabling artists to flourish.

Vance also debuted a new PSA video for the SAG-AFTRA Foundation, featuring the cast of Apple TV’s “The Studio,” including Kathryn Hahn, Chase Sui Wonders, Ike Barinholtz, Seth Rogen, and a special cameo by Bryan Cranston, humorously illustrating the foundation’s services.

Focus Features’ Creative and Business Perspectives

The breakfast commenced with a keynote conversation between Variety co-editor-in-chief Cynthia Littleton and Peter Kujawski, chairman of Focus Features. Their discussion delved into the distributor’s current and upcoming releases, such as “Bugonia,” “Hamnet,” and “Song Sung Blue,” examined from both business and creative angles. Kujawski shared insights into the delicate balance between commercial viability and artistic integrity, noting that while some films are made for profit, “There are some stories that just have to be told. And even if it is like a completely unsustainable business model, sometimes you have to figure out a way to tell those stories.”

Benny Blanco’s Heartfelt Gratitude

The overarching sentiment of the event was one of profound appreciation for the often-unsung heroes of the entertainment world. Benny Blanco’s initial humorous yet heartfelt acknowledgment of Phil Sarna’s impact resonated deeply, encapsulating the sentiment many artists feel towards their financial advisors. Business managers are entrusted not only with fiscal security but also with guiding complex careers and personal lives, often acting as a stabilizing force in an unpredictable industry.

As Benny Blanco eloquently summarized on behalf of the creative community, their work goes beyond mere numbers: “On behalf of every artist who asked all you guys the stupidest questions in the world, thank you for making us not lose all of our money.” This statement perfectly encapsulates the vital partnership between artists and their business managers, ensuring that creative visions can thrive without being derailed by financial pitfalls.