The Music Managers Forum (MMF) has unveiled new independent research that, for the first time, calculates the economic value music managers bring to the UK music industry.
The report has been published as the MMF rolls out a new training and development programme for managers.
Undertaken by RMR Research, Jem Associates and The Hub and unveiled at the MMF Manager Summit & AGM (September 16), the findings demonstrate that managers contribute £714 million in value to the wider UK music industry. For every £1 invested in managers, £8 is generated for the wider sector.
This value is particularly pronounced for the livelihoods of artists, songwriters and producers, representing 88% (£627m) of the overall total, related to the impact of managers through increases in their clients’ earnings, productivity, connectivity and wellbeing.
The report – which can be downloaded here – also details how managers trigger a ripple effect of value across the entire industry, with positive impacts on major and independent labels, music publishers, booking agents, lawyers and brand and marketing professionals.
Annabella Coldrick, chief executive, Music Managers Forum, said: “For the MMF, this is an incredibly important piece of research that, for the first time, places a tangible value on the roles that managers perform – both directly for their clients and as a ripple effect across the wider music industry. We hope the findings will instill greater acknowledgement and appreciation of the increased demands on managers, and acceptance of those who are breaking free of industry conventions and pursuing new commercial models.
“As the researchers themselves highlight, if music managers disappeared overnight, then the impact on the rest of the industry would be unthinkable!”
We hope the findings will instill greater acknowledgement and appreciation of the increased demands on managers
Annabella Coldrick
To support professional development within the UK’s music manager community, the MMF have also announced a major change to its membership structure. The new tiered system of membership will encompass Emerging, Standard, Professional and Company memberships, alongside an accompanying certification programme.
“These new structures will ensure that, rather than a one-size-fits-all model, the MMF can provide a more tailored range of services based around the career stage and experience of individual members,” said a statement.
Among the benefits for “Pro” members will be gaining access to the MMF’s new Manager Certification programme, which aims to encourage continued professional development among managers.
Built around a two-hour exam that covers the key aspects of a manager’s work and role, the first 30 “certified” managers are expected to be announced by mid-November.
Paul Bonham, professional development manager, MMF, said: “While there is no one single approach to music management, the MMF believes there should be shared and unified expectations of the standards and skills needed to operate professionally. The aim of our Certification Programme is to set these standards, and to engender greater recognition and understanding of the role played by members of our community.”
The Manager Certification programme was developed in partnership with experts including Prager Metis, SRLV, BAND Advisory Group and Simkins LLP. It also embeds the Creative Industries Independent Standards Authority (CIISA) guidelines on ethical and professional standards.
The move has already won backing from influential figures across the UK music business.
Dickon Stainer, chairman & CEO, Universal Music UK, said: “Music managers play a crucial role for artists, whether they’re just starting out or an established name. It is incredibly encouraging to see the launch of this tailored programme by the MMF, which will help managers hone their skills and in turn better support artists, wherever they are signed.
“As the industry continues to evolve, and the demands get ever greater, it is right that those tasked with building and protecting artists’ careers are also supported in their own career development."
It is incredibly encouraging to see the launch of this tailored programme by the MMF, which will help managers hone their skills and in turn better support artists
Dickon Stainer
David Martin, CEO, Featured Artists Coalition, said: “The professional relationship between artists and managers is often the closest and most important business relationship within the music industry. It’s a partnership built on trust, communication, and strategic alignment. Knowing that a manager is professionally certified can help to assure artists that their partner not only understands the creative vision but is equally equipped to navigate the complex business landscape that surrounds it.”
Gee Davey, CEO, AIM, said: “In our industry, many professionals step into roles without a clear framework to support the demands of their work, validate their expertise, or fill critical knowledge gaps. The MMF’s new Manager Certification programme offers a much-needed pathway to build on their real-world experience, boost their confidence, and formally recognise the essential skills required to be an effective music manager. Skilled Managers can play a crucial role in an Artist’s success and be valuable partners to independent labels and distributors.”
The programme was also welcomed by Sony Music UK and Beggars Group.
“Sony Music UK welcomes the MMF’s new manager certification programme,” said a statement. “With its aim to benefit artists and make the industry stronger, this complements the ongoing work record labels are also doing to improve education and build an infrastructure to support long, prosperous careers.”
“Great managers come in many shapes and sizes, and at Beggars we’ve always valued the knowledge and commitment they bring to artist careers,” said a statement from the indie giant. “We welcome the MMF’s certification as a useful way of supporting professional development and providing recognition for managers at different stages of their careers.”
The Manager Summit at London’s Amazing Grace also saw the publication of an all-new MMF Guide to Alternative Investment.
Sponsored by Sound Royalties, the guide aims to help managers navigate the current investment landcase, while exploring how management businesses and their clients can make themselves more “investible”. MMF members can access the guide for free.
Following a keynote from Alex Heiche, CEO & founder, Sound Royalties, the subjects of management value and investment were discussed in detail on a series of three panels, featuring contributions from experts including Kim Frankiewicz (Concord Music Publishing), Rob Challice (Wasserman), Cam Blackwood (Rezonate Music), Jennifer Horton (Matrix Equity Partners), Allesia Avallone (Language of Sound), Maarten Puddy (VOWTA), Ric Salmon (ATC Group), Daniel Ross (Ross Bennet Smith) and Chloë Roberts (Young).
The MMF also announced the election of two new board members – Elise Brown, founder of Revere Arts and Sarah Abbott, finance director at Wildlife Entertainment.
MMF vice-chair Jill Hollywood (Echo Beach Management) and Hide Whone (Theory Management) were both re-elected to the board.
PHOTO: (L-R) Hide Whone (Theory Management & MMF board), Alex Heiche (Sound Royalties), Niamh Byrne (Eleven Management & MMF Chair), Sumit Bothra (SB3 Artist Management & MMF board) and Annabella Coldrick (MMF Chief Executive) Credit: Jeremy Banks Photography
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