Model Agencies in the US - Industry Market Research Report
Description
Model Agencies in the US - Industry Market Research Report
Model Agencies
The Model Agencies industry has a low level of market share concentration, with the top four industry operators anticipated to account for less than 20.0% of total industry revenue. IMG Models, Wilhelmina International, Elite World, Ford Models and DNA Model Management have historically dominated the industry. The majority of industry players are small companies or independent agents.
Concentration remains low due to the rise in social media
• Industry concentration is anticipated to remain low during the current and outlook periods due to the rise of social media. Models have increasingly self-promoted via online social platforms such as Instagram and Facebook, decreasing demand for industry services. Furthermore, it has made it easier for independent agents to scout new talents, encouraging them to enter the industry.
Low barriers to entry encourage new entrants
• Model agencies have low capital requirements and regulatory barriers, making it easy to enter the industry. Establishing name recognition is the major barrier to entry considering that smaller players compete with global enterprises that already have connections and a loyal customer base. However, small agencies have been able to stay afloat by building a brand name via digital platforms.
Industry operators compete on quality of service
• Since the industry offers homogeneous services, operators that provide high quality services have a competitive advantage since they are able to retain clients based on their satisfaction. Industry operators hire highly qualified and experienced agents to scout talent and create a network. Larger players tend to compete on scouting the highest talent available to keep expanding their booking portfolios.
Operators in this industry represent fashion models in business dealings, such as auditions, bookings and contract negotiations. These agencies earn revenue via commission, usually from the deal they make with the model or another agency.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Model Agencies
The Model Agencies industry has a low level of market share concentration, with the top four industry operators anticipated to account for less than 20.0% of total industry revenue. IMG Models, Wilhelmina International, Elite World, Ford Models and DNA Model Management have historically dominated the industry. The majority of industry players are small companies or independent agents.
Concentration remains low due to the rise in social media
• Industry concentration is anticipated to remain low during the current and outlook periods due to the rise of social media. Models have increasingly self-promoted via online social platforms such as Instagram and Facebook, decreasing demand for industry services. Furthermore, it has made it easier for independent agents to scout new talents, encouraging them to enter the industry.
Low barriers to entry encourage new entrants
• Model agencies have low capital requirements and regulatory barriers, making it easy to enter the industry. Establishing name recognition is the major barrier to entry considering that smaller players compete with global enterprises that already have connections and a loyal customer base. However, small agencies have been able to stay afloat by building a brand name via digital platforms.
Industry operators compete on quality of service
• Since the industry offers homogeneous services, operators that provide high quality services have a competitive advantage since they are able to retain clients based on their satisfaction. Industry operators hire highly qualified and experienced agents to scout talent and create a network. Larger players tend to compete on scouting the highest talent available to keep expanding their booking portfolios.
Operators in this industry represent fashion models in business dealings, such as auditions, bookings and contract negotiations. These agencies earn revenue via commission, usually from the deal they make with the model or another agency.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
36 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
