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MMF launches ReBuild fund for managers impacted by COVID-19

By | Published on Friday 5 June 2020

MMF

The UK’s Music Managers Forum has launched a new support fund for artist managers negatively impacted by the COVID-19 pandemic.

Called ReBuild, the fund will initially offer grants of up to £3000 to UK-based managers who have suffered significant income losses as a result of COVID-19 and who are are unable to fully access the COVID-related support schemes offered by the UK government.

The trade body notes how, in its 2019 ‘Managing Expectations’ report, 80% of surveyed managers said that the commission they earned on their client’s live income was their most reliable and important revenue stream. Which, of course, is the revenue stream most severely impacted by COVID-19.

It adds: “Compounding this situation, a significant proportion of the MMF’s 900-strong membership do not qualify for existing COVID-19 support packages and are unable to self-furlough due to their responsibilities to their clients”.

The new support scheme will be managed by Help Musicians, and has been made possible by donations from collecting society PPL and a number of leading artist managers, including Joyce Smyth, Merck Mercuriadis, Adam Tudhope, Paul Loasby and Stuart Camp. MMF and its CEO Annabella Coldrick have also committed to the fund, and are actively seeking further support from across the music and technology sectors.

Coldrick says: “The shutdown of live music has been traumatic for MMF members. We have actively campaigned for the government to fill the support gaps, however this has not been forthcoming and so we decided to set up ReBuild to support our community. At this very difficult time, it is vital that managers can avert an impending cashflow crisis and remain dedicated to helping artists and music creators innovate and sustain themselves through some tough months ahead”.

MMF Chair Paul Craig adds: “I would like to thank PPL for their generosity, and Help Musicians for their support in getting ReBuild off the ground. A significant proportion of MMF’s membership do not qualify for current government support packages, and our hope is that this much-needed funding will prevent many of them falling through the cracks and having to close their businesses”.

Meanwhile PPL boss Peter Leathem says: “A manager is often the individual helping turn an artist’s vision into a viable business. They are knowledgeable and skillful business people, providing an important foundation for the music industry. This fund will help them not just manage a loss of income but also continue to grow artist careers, sustaining the promise of many artists during this period of severe disruption. PPL is proud to support such a vital part of our industry”.

More details about the fund, eligibility requirements and the application process will be made available at MMF’s AGM on 17 Jun.



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