The article explores the degree to which memory studies has become established as an academic field. Although we acknowledge that there are drawbacks to formal institutionalization, we contend that it is useful to think strategically about the future of memory studies. We argue that three key developments must take place in order for a field to become institutionalized. First, individual scholars must articulate the field through scientific production and collaboration. Second, higher education institutions must formally recognize the existence of the field through specialized programs and departments. And third, public and private donors must sponsor research via dedicated scholarships and grants. We use these phases as benchmarks in order to assess memory studies’ current state of development. After surveying important writings of key authors in memory studies, we test our assumptions through an online survey with 255 self-identified memory scholars. The results show memory studies to be in a mid-level state of development, where individual agents are the most active drivers of defining the boundaries of the field and driving its further establishment. The major obstacle in this process, identified in both the survey and in the literature review, is the fragmented nature of the discipline, which could be addressed through the pursuit of a more interdisciplinary (rather than multidisciplinary) research agenda.