ILMC 36: The Agency Business

Leading agents offered an upbeat overview of the agency trade in 2024 and pondered the future of the model in the annual ILMC panel on the sector.

The Agency Business 2024 panel chair Anna Sjölund was joined by guest speakers Bex Wedlake (One Fiinix Live), Brian Ahern (WME), Tom Schroeder (Wasserman Music) and James Wright (UTA) to debate a range of topics.

“The great thing after the pandemic, [Brexit], and the general inflation of costs, we’re still having a strong touring business. The difficulty is costs, be that for artists, promoters or venue operators,” said Wright.

Asked how it was to be an agent in 2024, Schroeder said, “I bloody love it. I don’t disagree that there are problems, but they’re a bit like a jigsaw that we have to work out and I really enjoy that challenge. The fact is that artists are a lot more involved in their careers these days, and that makes things fun.

“The rules have changed and some historic templates have [been discontinued], and because social media plays such a big part in things now, artists have to be a lot more involved in their career and decisions about their career, so I truly believe this is the best time I’ve had in my career.”

“The appetite for live music is bigger and better than ever before”

Wedlake noted, “The appetite for live music is bigger and better than ever before, and there’s a bigger emphasis on women in music and LGBTQ issues, led by the artists, and it’s amazing to witness that levelling of the [playing field] and the evolution of our job. There’s no one-size-fits-all for either clients or us as agents, so the fact that big corporations and independent operations can happily co-exist is pretty healthy.

Ahern agreed, commenting, “I believe our company can provide a competitive advantage to our clients, but there are also bands and artists who simply want to tour, and therefore being at another agency is a better fit for them. I have a lot of respect for the indie agents and what they do – thankfully there is enough work for all of us.”

Discussing the reality of global deals, Wright revealed that he had chosen a lower offer for one of his clients because a higher offer would have meant unrealistic ticket prices for that act’s fans. And talking about the changing role of the agent, Schroeder said that while 15 years ago his job involved booking gigs, “What was 90% of my job is now just 10%, as I spend a lot more time working on strategy and creativity. And the best thing is I don’t know how I will be doing things in 18 months because the business keeps changing and I think the industry is all the better for it.”

Schroeder courted controversy by stating that grassroots venues were no longer a part of the ecosystem for his roster of clients, although he acknowledged their importance. But Wedlake responded, “We all have a responsibility to feed back into the grassroots sector – that’s why I’m a proponent of using independent promoters.” She added, “My job as an agent is to ferret out promoters who understand my artists and with whom we can grow sensibly, slowly and creatively.”

Addressing concerns about agents signing too many acts to their rosters, Wright said, “We are opportunistic, but we have to believe in the artists we sign. It’s complicated and it’s hard work, but we don’t get paid straight away, so belief is a big part of it.”

“We need promoters to help us get to a point where touring becomes financially sustainable”

Underlining that point, Schroeder revealed that he has been working with Raye for eight years – “Six and a half years were a real slog, but I always had that belief and I stuck with her.”

Turning the discussion to the different ways in which agencies operate, Sjölund asked Ahern about WME’s territorial model, leading Ahern to dismiss some of the myths about the practice.

“We don’t simply hand off to someone who does not know what they are doing. We engage experts who have knowledge about specific markets, or who speak the local language, and who can advise me as the agent who can then use that information to make a decision. But the person who presents the artist always has that direct relationship – if I do not have that direct contact with my artist, I get fired.”

Schroeder also underlined the importance of the promoter in planning career strategies for artists. “If we choose a promoter that we trust, why would we not want their opinion in a meeting with the artist and management? They are the well informed gamblers that we rely on.”

He concluded, “We need promoters to help us get to a point where touring becomes financially sustainable.”

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