As we kick off the new year, it’s important to set some goals and resolutions for ourselves. Here are 10 things to keep in mind as you navigate the world of music management:
- Check your data
Are you making sure your clients performance and songwriting data is accurate on PPL & PRS? This is crucial in ensuring that your music makers money earned from public performance on radio, live and streaming doesn’t disappear into the “black box”. Make sure your clients are getting their due compensation by ensuring the right ISRC (recording) and ISWC (song) codes are allocated across their work.
- Prioritise wellbeing and health
It’s important to prioritise your own mental health as well as your artist’s. With the fast-paced and often overwhelming nature of the music industry, it’s easy to fall victim to burnout. Remember to set boundaries and take breaks to recharge. It might be difficult at times, but it’s crucial for maintaining a healthy work-life balance. Putting time aside for planning can allow for breaks especially for avoiding digital burnout.
- Have you done your tax return?
It’s that time of year again – tax season. The deadline for the 2021 to 2022 tax year is fast approaching on January 31st, 2023. If you are self-employed, make sure you get your tax return completed and submitted on time to avoid any penalties. Don’t let the stress of tax season get to you – get organised and stay on top of your finances. Try setting a budget pot for an amount for tax each month or time when an invoice is paid.
- Keep an eye for for new trends
It’s important to stay up to date on industry trends and always be on the lookout for new opportunities for your artist. At MMF, we have over 30 associates carefully chosen that we believe will be valuable resources to managers. If you’re looking to connect with professionals who can help take your artist’s career to the next level, we can help. As well as reading your weekly MMF newsletter sign up to at least one regular music business news – CMU/MusicWeek/MusicAlly/RecordoftheDay/MBW
- Submit your setlist on PRS
Don’t miss out on the royalties your clients are owed from live performances! Make sure to report all your setlists to PRS in a timely manner and before the time runs out! The deadlines for different venues are: Small venues – report within 1 year. International/UK concert venues – report within 3 years. Performances in the US – choose ASCAP, BMI, or SESAC to represent your rights and ensure you get paid. Stay on top of your live performance income and get paid what you’re owed.
- Get Organised
Make sure to archive your data and keep track of your communications and networks. Google Workspace can be a valuable tool in staying organised and on top of your workload. Consider taking advantage of their free training resources to get the most out of their platform.
- Does your insurance cover that?
Insurance can be tricky, especially when it comes to live performance and touring. With the help of our insurance partners, we’ve compiled a list of key questions and golden rules to keep in mind. Members can find this in their member resource area. Don’t let the complexities of insurance stand in the way of your artist’s success.
- Build your network
Expand your network and connect with other music professionals with the help of MMF! Our members directory, networking events, and Facebook group are all great resources for building relationships and sharing knowledge with your peers. Take advantage of the collective community knowledge within MMF to help each other succeed.
- What can you do to create lasting sustainable change?
Encourage sustainability within your artist’s career. Start a conversation about sustainability and how you can make lasting change. Check out the sustainability section in the MMF resource area for resources from organisations doing important work in this area. Together, we can create a more sustainable future for the music industry.
- Keep learning
It’s important to continuously educate yourself and keep learning in order to grow and move forward in your career. We offer loads of training options and we recommend that every manager experiences the Essentials & Mechanics of Music Management courses at some point in their career! Our regular seminars and events suit managers at every stage of their journey. Whether you’re just starting out or looking to take your skills to the next level, keep engaged and we’ve got you covered. Read your MMF weekly newsletter and get in touch with us to find out what training might be right for you.
Here’s to a successful and fulfilling year ahead for all the music managers out there