John Atterberry, who had worked with the Spice Girls, Jessica Simpson and others, died at Cedars-Sinai Medical Center shortly before 5 p.m. Monday, spokeswoman Simi Singer said.
The 40-year-old executive was shot in the face and upper body as he drove his Mercedes-Benz during Friday's random attack.
Atterberry was the only seriously injured victim of 26-year-old Tyler Brehm, who police say fired nearly 20 bullets in the air and at cars as he screamed that he wanted to die. He was killed by police minutes later.
Brehm's ex-girlfriend has said she and Brehm had recently broken up. But police said they're still looking for a motive for the attack.
Brehm walked down the middle of Sunset Boulevard, firing on motorists with no clear target and injuring three of them before two police officers who just happened to be in the area - an off-duty motorcycle officer working movie set security and a detective - shot and killed him, authorities said.
In amateur video taken at the shooting scene, the gunman appeared to have short hair and wore jeans and a white tank top. He paced back and forth near the busy intersection of Sunset Boulevard and Vine Street, firing from a .40-caliber handgun, police said.
The officers ordered the suspect to stop and drop his weapon. He was shot when he pointed his weapon at the officers, police said.
Atterberry had been a vice president of Death Row Records, the label that produced albums for many of the most prominent names in West Coast hip hop, including Snoop Dogg, Dr. Dre and Tupac Shakur.
Courtney Barnes, a publicist for Smokey Robinson and Ron Artest, told Billboard magazine that she was shocked to hear the news, saying Atterberry was "a really nice guy."