Two years after the sinking, it was reported in a few newspapers that a memorial to the Titanic's musicians had been unveiled. A typical report was in "The Birmingham Gazette" of July 18th, 1914, thus, "Mr Landon Ronald, Principal of the Guildhall School of Music, yesterday unveiled at the Institute of the National Orchestral Assocation, in Archer Street, Soho, a memorial mantlepiece erected in honour of the bandsmen who, as the Titanic was sinking played the hymn, "Nearer, my God, to Thee." A bronze panel formed the centre of the mantlepiece, and showed two symbolic figures of Music and Fame holding a laurel wreath over an urn, underneath which are inscribed the names of the eight bandsmen. In the pillaster work are set bronze medallion portraits of the musician heroes." Further reports (for example, from the Liverpool Echo and the Western Daily Press) supplied the information that the sculptor was Paul R Montford, and the architect was Maurice Webb.
It would seem that the National Orchestral Assocation was defunct, or had become absorbed into another union. I was intrigued to know whether the memorial still existed and traced the old headquarters of the Association to an address in London; alas it was closed on the day I visited, but I emailed the company which now occupied the building (Launch PR) and Emma Newman, the Personal Assistant to the Leadership Team confirmed that the mantlepiece was in existence, was intact and was in their boardroom. She kindly took the following pictures (click for larger versions - warning: they are very large!):