Last September the Association of Artist Managers in Australia (AAM)* conducted a survey on a sample of 68 Working Artist Managers. The results indicate the expertise, skill, labour force and contribution the music industry’s artist management sector make to the music industry and the impact their work has on developing creative, successful and economically sustainable artists. The role of the manager intersects the creative development, marketing and promotion, business affairs, touring activities and human resources management. Hence, according to AAM it is critically important to recognize that artist managers are the 21st Century CEOs of the Music Industry.
This recent survey found that although artist managers are a highly educated, experienced and skilled workforce, they are underpaid and suffer a 48% wage gap compared to other professionals. They are business owners that spend 84% of their time working on the artists business, managing Australian cultural production valued >$390 million annually. Additionally, they are generous contributors of unpaid time, expertise and cash to the music industry. Survey identified economic sustainability and mental health & wellbeing as the most important issues impeding the growth and sustainability of their management business, and in turn their artists.
The AAM has identified 5 key opportunities for growth and sustainability in the next 5 years: 1) access to international markets 2) access to data, new technologies & income streams 3) access to funding, education & professional development activities 4) access to next generation management business model development 5) human resources support services.
*The Association of Artist Managers (AAM) unites the Australian music industry’s managers providing a peak body that develops, protects and promotes the reputation and interests of music managers, and their artists. With 250+ active managers, many working globally, the AAM is the only peak body for managers of contemporary music.