Connecting the live music industry

EMMA: Music Managers Are Personally Financing Artist Development

February
9

The European Music Managers Alliance (EMMA) has published the results of a new pan-European survey indicating that a majority of music managers are investing directly in their artists’ careers, often using personal income and savings.

The findings, released on 6 February 2026, are based on responses from 330 music managers across more than 30 countries. EMMA represents 18 national music manager organisations across Europe.

According to the survey, 56.3% of respondents said personal income or savings represented the dominant source of investment in their clients’ careers. A further 26.2% reported that their artists received no external investment at all, while just 10% had access to public or private grants. Nearly half of managers (49.2%) said total investment levels were below €10,000.

When funding is available, it is primarily directed towards artistic creation and live activity. Respondents reported that 32.5% of investment is allocated to recording and songwriting, followed by touring at 18.2%. Additional spend includes PR and marketing (12.9%) and video and branding (10.9%).

Live touring continues to be the main revenue driver for artists, the survey found. Across Europe, 51.9% of managers described touring and ticket sales as a “very” or “significant” source of client income, compared with 17% for streaming, 14.4% for merchandise and direct-to-consumer sales, and 5.6% for sync. While 60.9% of tours were typically profitable, respondents highlighted regional disparities. In the UK, less than half of tours (45.9%) were reported as profitable.

The data also highlights the structural fragility of music management as a profession. Almost half of respondents (49.1%) earned less than €20,000 annually from management, while 24.8% reported earnings above €50,000. The majority of managers (56%) rely on commission-based income, with a further 22% charging consultancy fees. Many operate as micro-enterprises, relying on freelancers and external service providers, and a quarter (24.7%) reported working more than 49 hours per week.

Despite these pressures, respondents described an increasingly broad skill set as central to the role. Live events and tour management, negotiation, wellbeing management, marketing, and financial planning were all cited as critical competencies.

However, managers also identified significant gaps, particularly in early-career finance for artists (79%), early-career finance for managers (74.9%), and access to growth investment (74.6%). Nearly three-quarters (72.9%) pointed to a lack of transparency across the industry as a key structural barrier.

EMMA Executive Director Jess Partridge said "Managers are at the forefront of an emerging artist-centric music business, and they play a crucial role in developing and sustaining new talent. However, as the results of our pan-European survey demonstrate, they are often holding the fort in the most challenging of circumstances - working long hours, investing their own money and at significant personal risk. Managers are not service providers, they are creative and entrepreneurial business builders, and they need greater support if the European music market wishes to compete at the highest level."

The report concludes with eight recommendations, including improved access to low-bureaucracy finance, touring risk guarantees, and business training, as well as longer-term reforms to address administrative and financial pressures associated with live touring.

The full report is available here

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