Talent & Modeling Agencies

Talent & Modeling Agencies

Brief Excerpt from Industry Overview Chapter:

Companies in this industry represent or manage creative and performing artists, athletes, entertainers, writers, models, and other public figures. Major companies include Creative Artists Agency (CAA), International Creative Management (ICM), United Talent Agency (UTA), and William Morris Endeavor Entertainment (WME), all of which are based in the US.

COMPETITIVE LANDSCAPE

Demand is driven by spending on talent in the performing arts, sports, and advertising industries. The profitability of individual agencies depends on the success of agents' talent in winning auditions, leading to a steady stream of contracts. Large agencies have advantages in relationships with major studios, fashion designers, and cosmetic companies. Small agencies can compete successfully by specializing in a particular medium or location and developing niche customer relationships. The US industry is fragmented: the top 50 companies account for about 50% of industry revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major services include representation services (accounting for about 45% of the industry revenue), followed by performance contract representation (about 30%). Other services include career management, contract representation, sponsorship and endorsement contract representation, and public relations event management.