|Last Quarterly Update:||12/9/2013|
|SIC Codes:||7389, 7922, 7941|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
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. 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.
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.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services are finding auditions for clients and negotiating contracts. Additional services include finding photographers, arranging acting teachers, satisfying other support needs, and securing endorsement deals.
Agents promote their talent and models to buyers based on required gender, age, race, looks, and talent the ...
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