Features
‘A Brave New World With Infinite Opportunities To Do Things Differently’: Q’s With Tom Schroeder, EVP & Managing Executive, Wasserman Music UK
For our first-ever UK Focus, we reached out to a selection of agents working out of London, to talk about everything from booking trends, and ticket prices to regional differences across the country, and business philosophies. We also asked them about current artists to watch. Here’s what Tom Schroeder, EVP & Managing Executive, Wasserman Music UK, had to say.
Pollstar: What’s are most important qualities to display as a music agent in 2024, and why?
Imagination, creativity, and a detailed understanding of the market – it’s a brave new world, with huge local variations – and (thank god) infinite opportunities to do things differently as consumption and engagement change so dramatically
What booking trends do you observe in the UK right now?
Avails are tough as always, but tours are moving around a lot, too – so there can be lots of options closer to the dates, whereas 6-9 months out it looks horrible.
So, I’m basically booking shows further in advance but also booking shows next week if that’s the best strategy. You need to stay nimble: when you know an artist is having a moment, that’s when they need to be in front of fans.
Is there need and room to raise ticket prices?
The biggest question we all face – with cost of living affecting so many markets – is how do we ensure that all fans have access to seeing their favorite artists, so that those relationships can be galvanized over time through the live experience? There is no perfect answer. Parts of the market are hugely price sensitive, but the top section can and should be pushing ticket prices higher for the experience they are providing. But – and it’s a big but – if there is no solution that allows those most impacted by the rising cost of living to be part of the journey, we will lose them for the future and then nobody wins.
Aside from raising ticket prices, one way of ensuring a higher profit margin while touring in an inflationary economy would be to reduce production. How open are artists to that conversation in your experience?
That would seem a sensible answer on paper, but artists are not robots, and they want to deliver the very best show they can to their fans. Most of my very biggest acts are (smartly) far more focused on maintaining their long-term connection to their fans than on short-term profit than ever before.
Does the UK have territorial differences if you look at the country on a market by market basis? Are there difference to the way you operate when crossing the Scottish, Irish or Welsh borders?
Yes, of course – huge differences. The UK isn’t logistically simple from any standpoint. One thing that’s been exciting recently is that we’ve seen some acts really start to build more strongly in the north than the south – which I love. London has always been oversaturated, but I think it’s more about the north owning their own artists, and I love that.
What’s your business strategy and philosophy for newcomers, in particular, in today’s world where it’s never been more expensive to tour?
You’ve got to stay nimble, focus on creating truly meaningful moments for artists and fans, and accept that there generally aren’t the resources for an act to play shows all around the country, much less the world, from the start of their career. Everyone would love to do that, but for a multitude of reasons it just isn’t financially viable. You’ve got to build your way there, and artists must anticipate and accept that they will be thrown into high pressure shows from early on where the stakes are high. Most importantly, you need to listen closely to artists, understand their unique vision and definition of success, and ensure that they are involved directly in the decision-making process. It’s their career, and their relationship with their fans is everything.
Which artist(s) should everyone have on their radars right now?
Two for me – Jim Legxacy and Sienna Spiro. Jim already has a rich back catalogue and a very engaged fanbase – but as people really get to ‘meet’ him live it’s going to become an entirely different story. Super special. Sienna is just one of those ‘jaw-hits-floor’ artists – she has incredible material, a great team, and steely determination. I couldn’t be more excited to watch her explode.
Any upcoming shows, tours, business developments you’d like to highlight?
As a company, I’m proud of the way we’ve grown tremendously while maintaining the integrity of our top-notch roster and global team. And how our approach to touring and long-term career building is unique and exciting and gets real results. We have some of the biggest acts in the world but our ears are always close to the ground to find future stars in the making. In particular, the Fred Again.. business has been a game-changer. 250K tickets sold in Australia with demand exceeding that by a huge factor – with no show announced more than three days in advance. It’s been quite the ride, and I love how it has challenged the industry to look at its constructs and norms and wonder if things are being done because it’s the right way, or just the way it’s always been.