How much do Music Managers make? A new survey says… not much

It’s not just musicians who are struggling. A new report by the Music Managers Forum breaks down the earnings of artist managers, revealing significant insights into their income and the industry’s financial landscape.

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The Music Managers Forum (MMF) has released a new report advocating for targeted cross-sector support to help UK music management companies develop their future workforce.

This third edition in the MMF’s Managing Expectations series highlights the challenges and opportunities UK music managers face.
The report reveals a mixed outlook for music managers. Survey results from 176 MMF members highlight significant hurdles in building long-term sustainable businesses.

Notably, 90% of respondents are self-employed or freelance, and 60% earn less than the minimum full-time wage. Furthermore, only 26% of respondents contribute to a pension, underscoring their precarious financial security. There has also been a decline in the number of managers remaining in the field beyond five years, and apprenticeship and internship opportunities have halved since 2019.

Despite these challenges, the report indicates positive trends. There has been a 30% increase in management companies investing between £2,500 and £5,000 (approximately USD 3,195 and USD 6,380) in skills development and training. Additionally, more MMF members are accessing business funding and grants, such as those from the Accelerator Programme. Employment levels in the sector are nearing pre-pandemic figures, with 17% of respondents earning above £50,000 (approximately USD 63,860) annually.

22% of women in management earn over £30,000 (approximately USD 38,320), compared to 29.6% of men.

11.1% of female respondents earned between £50,000 and £100,000 (approximately USD 63,860 and USD 127,735), compared to 9.9% of male managers.

At the highest earnings level, 2.2% of female and 7% of male managers reported incomes exceeding £100,000 (approximately USD 127,735).

MMF’s Chief Executive, Annabella Coldrick, said: “It’s vitally important that the MMF continues to listen to the needs and demands of our members, however big or small, and that we can build upon our existing range of services and training. The Managing Expectations reports are an important component of this process, allowing us to understand the views of music managers around the UK and providing them with a practical toolkit of advice, tips and recommendations – in this instance, on how to expand their workforce.  

“Such an approach to knowledge sharing is at the heart of all we do, whether that’s with our Essentials of Music Management training courses, our groundbreaking Accelerator Programme supported by YouTube Music, our partnerships with Arts Council England, Creative Wales and Generator or the Advanced Managers Retreat we are planning with PPL for January 2025.”

The MMF has drawn four cross-sector recommendations from the research:

• The MMF  – The organization must continue to provide support to members, helping them build skills and knowledge through education and professional development programs.
• MMF Members should invest in staff training and development, consider part-time work options, and explore innovative financing models.
• Industry Bodies – They should advocate for better industry practices, including timely payments, standard contracts, and more substantial support for parents, carers, and those on maternity leave, particularly freelancers.
• Goverment – It should increase support for practical apprenticeships and training programs in music management skills.

To access the full report, visit the MMF website.