UK management body the MMF has published a new report: ‘Managing Expectations: Management Deals Guide’. The free report explores the “growing diversity of deal structures” used by managers with their artists, particularly those beyond the traditional model of taking a commission (e.g. 20%) from earnings.
Extended sunset clauses; gross commissions on live income; fixed minimum fees; co-management agreements; consultancies and retainers for service provision; joint ventures and development deals; and hybrid management / booking agency models are among those considered.
“It feels like there is a disconnect between how the rest of the industry believes managers are paid, and how our members operate in practice,” said CEO Annabella Coldrick. The new, alternative models will certainly spark debate. “Our aim is not to champion or undermine any of these different approaches, all can be valid, but rather to create greater transparency and dialogue with artists and artist lawyers about how managers can build secure long-term partnerships that deliver appropriate levels of remuneration and reward,” she said.
