UK Music Managers Add £714 Million in Value to the Nation’s Music Industry

The Music Managers Forum (MMF) has unveiled independent research quantifying the economic value music managers bring to the UK music industry.

The research:

• Was conducted by RMR Research, Jem Associates and The Hub.

• It demonstrated that managers contribute £714m in value to the wider UK industry.

• For every £1 invested in managers, £8 is generated for the wider sector.

• 88% (£637m) of that overall value is related to the livelihoods of artists, songwriters and producers, and the impact managers have in increasing their clients’ earnings, productivity, connectivity and well-being.

• The report is available here.

Membership changes:

• The MMF has announced a change to its fee structure to reflect the different career stages of its members.

• A new tiered system of membership will come into effect next week, encompassing Emerging, Standard, Professional and Company memberships.

• As per its press release, the system is to ensure the MMF can provide a more tailored range of services based around the career stage and experience of individual members.

• The MMF will also introduce a Manager Certification Program for “Pro” members, which aims to encourage professional development and create a recognized validation of their skills and knowledge.

What they said:

• Annabella Coldrick, Chief Executive, Music Managers Forum: “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 instil 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.”