A new report form the Music Managers Forum (MMF), entitled Managing Expectations, explores the changing face of music management.
The report also identifies potential barriers to business growth that may impact support for UK artists, songwriters and producers.
The report is supported by a survey of more than 180 music managers, plus in-depth interviews conducted by Music Ally’s Eamonn Forde with managers who represent acts like The 1975, Gorillaz, Mumford & Sons, Robbie Williams, Little Simz and Nick Cave.
The report investigates how managers support talent development, relationships with record labels, required skill sets, mental health challenges and the evolving commercial models between music managers and their clients and industry partners.
The report was previewed on Thursday 31 October at BBC Introducing LIVE, and can be downloaded here.
Key survey findings include:
From these findings the MMF have identified five potential barriers, which are access to finance, support for mental health provision, diversification of skills, transparency on income streams and revenues and commercial models.
Paul Craig, MMF chair and manager of Biffy Clyro at Nostromo Management says: ‘Managing Expectations’ highlights how music managers are taking up an ever-increasing portfolio of work as the industry becomes more open and also more complex. In reaction to that, management businesses are evolving and taking alternate paths as well as demanding more equitable treatment for those they represent. We’re increasingly investors too. And as we’re putting more in, it’s no surprise that management deals are changing to reflect this. It’s an incredibly exciting time, there is always more to learn, and it feels at times like an entirely new industry is being forged.’
Ellie Giles, Step Music Management, comments: ‘The music industry has changed enormously this century, and so has the role and purpose of the music manager. Each manager and management company may take a very different approach, but they are all ultimately doing the same thing: building careers and businesses for their artists.’
Brian Message, ATC Management, says: 'Managers are multi-faceted, multi-talented rainmakers. They are the people who get things done. The great beauty and great curse of management is that you’re across absolutely everything.'
Annabella Coldrick, chief executive, MMF, adds: 'The goal of this report is to better explain what a modern day music manager actually does and enhance understanding of how this has changed in the digital age. We will use the findings to better advocate for our members' interests and expand our activity on the critical areas identified such as access to finance, acquiring new skills and mental health, and to initiate discussions with our clients and partners on new business models in management.'
Kwame Kwaten, vice chair, MMF and Ferocious Talent, says: 'This is an important report, and it raises some big questions. For all the opportunities and responsibilities opened up through digital innovation, it’s clear that the majority of managers are still paid on commission-based business models. I'm not convinced that's sustainable, and think we need a wider industry discussion around how managers are compensated in order to ensure artist and songwriter businesses can thrive in the future. Many of us have already started cutting deals that reflect our current environment.'
The report also identifies potential barriers to business growth that may impact support for UK artists, songwriters and producers.
The report is supported by a survey of more than 180 music managers, plus in-depth interviews conducted by Music Ally’s Eamonn Forde with managers who represent acts like The 1975, Gorillaz, Mumford & Sons, Robbie Williams, Little Simz and Nick Cave.
The report investigates how managers support talent development, relationships with record labels, required skill sets, mental health challenges and the evolving commercial models between music managers and their clients and industry partners.
The report was previewed on Thursday 31 October at BBC Introducing LIVE, and can be downloaded here.
Key survey findings include:
- The improving diversity of music management: Reflecting wider changes in the MMF’s membership, 42 percent of survey respondents identified as female, while 20 percent were non-white. Their client base is also increasingly diverse with 73 percent representing artists, 42 percent representing songwriters, 33 percent representing producers, and 17 percent representing DJs.
- Managers do not operate in a silo: While the majority of music managers assume responsibility for their clients’ recorded and publishing-related businesses, a significant number also oversee social media (76 percent), PR and promotion (65 percent), tour management (57 percent), bookkeeping (48 percent) and legal services (23 percent).
- Managers are established first-stage investors: Artists, songwriters and producers are increasingly reliant on direct financial backing from their management, particularly in early stage development. 74% of respondents claimed to have invested their own money into current client’s careers. 35 percent used personal savings, while 40 percent have received no outside investment.
- Live music represents the most significant revenue stream: Followed by recorded/publishing advances, PRS royalties, streaming payments and PPL royalties.
- Concerns remain over the commercial sustainability of music management businesses: 26 percent of respondents work full-time of part-time in another part of the music business - and while 25 percent earn more than the national average, 56 percent earn less than £10k per annum from music management, and 21 percent earn nothing at all.
From these findings the MMF have identified five potential barriers, which are access to finance, support for mental health provision, diversification of skills, transparency on income streams and revenues and commercial models.
Paul Craig, MMF chair and manager of Biffy Clyro at Nostromo Management says: ‘Managing Expectations’ highlights how music managers are taking up an ever-increasing portfolio of work as the industry becomes more open and also more complex. In reaction to that, management businesses are evolving and taking alternate paths as well as demanding more equitable treatment for those they represent. We’re increasingly investors too. And as we’re putting more in, it’s no surprise that management deals are changing to reflect this. It’s an incredibly exciting time, there is always more to learn, and it feels at times like an entirely new industry is being forged.’
Ellie Giles, Step Music Management, comments: ‘The music industry has changed enormously this century, and so has the role and purpose of the music manager. Each manager and management company may take a very different approach, but they are all ultimately doing the same thing: building careers and businesses for their artists.’
Brian Message, ATC Management, says: 'Managers are multi-faceted, multi-talented rainmakers. They are the people who get things done. The great beauty and great curse of management is that you’re across absolutely everything.'
Annabella Coldrick, chief executive, MMF, adds: 'The goal of this report is to better explain what a modern day music manager actually does and enhance understanding of how this has changed in the digital age. We will use the findings to better advocate for our members' interests and expand our activity on the critical areas identified such as access to finance, acquiring new skills and mental health, and to initiate discussions with our clients and partners on new business models in management.'
Kwame Kwaten, vice chair, MMF and Ferocious Talent, says: 'This is an important report, and it raises some big questions. For all the opportunities and responsibilities opened up through digital innovation, it’s clear that the majority of managers are still paid on commission-based business models. I'm not convinced that's sustainable, and think we need a wider industry discussion around how managers are compensated in order to ensure artist and songwriter businesses can thrive in the future. Many of us have already started cutting deals that reflect our current environment.'
