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, models, and other public figures. Major companies include Brillstein Entertainment, Creative Artists Agency (CAA), International Creative Management (ICM), IMG Worldwide, Wilhelmina International, and William Morris Endeavor Entertainment.

The US talent and modeling agency industry includes about 3,500 companies with combined annual revenue of about $5 billion, as well as many sole proprietorships with no paid employees. The output of US promoters of performing arts and sports and agents for public figures, an indicator for talent and modeling agencies, is expected to grow at a moderate rate over the next two years. Key growth drivers are increased branding and digital media activities.

The industry includes agents, who focus on finding clients work, as well as personal managers, who generally find sponsorships and endorsements for clients.

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 industry is fragmented: the top 50 companies account for less than 45 percent of industry revenue....