The invention relates to magnetic recording media comprising a non-magnetic base and, applied thereto, a firmly adhering magnetic coating based on a finely divided magnetic pigment dispersed in a binder which contains at least 50 percent by weight of a special polyurethane elastomer.This polyurethane elastomer is a thermoplastic polyurethane which is soluble in tetrahydrofuran and free from isocyanate groups, and which has been manufactured from (A) 1 mole of one or more hydroxyl-containing polyesters and/or hydroxyl-containing polyethers of molecular weight from 600 to 4,000, (B) from 3.5 to 15 moles of a branched-chain aliphatic diol of 4 to 10 carbon atoms or a mixture of aliphatic diols of 2 to 10 carbon atoms, of which at least 50 mole percent is a branched-chain aliphatic diol of 4 to 10 carbon atoms, (C) from 0 to 1 mole, but not more than 15 mole percent of the aliphatic diols according to B, of an aliphatic polyol with from 3 to 6 OH groups and 3 to 18 carbon atoms, and (D) from 4.5 to 18 moles of a diisocyanate of 6 to 30 carbon atoms, the amount of NCO groups being approximately equivalent to the amount of OH groups of the sum of the components A to C.Magnetic recording media which contain such a polyurethane in the magnetic coating are distinguished by high surface hardness coupled with a markedly improved orientation ratio, a higher packing density and more uniform dispersion of the magnetic particles in the coating.