Posted on: June 3rd, 2021

Finding steady work in the entertainment industry isn’t always easy. That’s where talent agencies come in.

Talent agencies are the glue that binds the entertainment industry together, connecting artists with the people who want to hire them.

Whether you’re hoping to get signed by a talent agency or you want to start your own, it’s important to understand how entertainment agencies work. In this article we’ll cover the basics — what is a talent agency, how to submit to one, and how to start a talent agency of your own.

What is a talent agency?

You might be familiar with talent agents from outsized portrayals in TV shows and films like Entourage and Jerry Maguire. But do talent agents really spend all day yelling into a telephone and overworking their assistants? Not always.

The main job of talent agencies is to find work for their clients — actors, writers, directors, athletes, and other creative professionals. Talent agents can send actors on auditions, set up meetings, and negotiate contracts.

A good agent acts as a mentor, guiding a client’s career by offering advice and wisdom on everything from creative decisions to public relations and branding.

Talent agents work on commission and typically take 10% of a client’s earnings. Many talent agents work with multiple clients. Given the size of many entertainment contracts, working at a top talent agency can be quite lucrative.

When most people think of entertainment agencies, they think Hollywood. While Los Angeles is headquarters to many, there are talent agencies in NYC, London, Beijing, and many other major cities.

Leading talent agencies include Endeavor Talent Agency, Creative Artists Agency, United Talent Agency, Paradigm Talent Agency and ICM Partners. While each is a top talent agency, they all have their own strengths and weaknesses.

Now let's get into their main function and what they really do (you know, besides screaming into their phones).

What does a talent agency do?

Beyond setting up the occasional coffee meetings for clients, talent agencies perform a wide variety of functions for their clients and the agency at large. A few of them include:

Finding Clients New Work: As most agent’s salaries are tied to client earnings, finding and creating a stable stream of work is paramount and, by and large, the most important function.
Fielding Client Offers: Some clients have the luxury of job offers waiting at any given point. Agents collect these on behalf of the client and carefully sort through them.
Negotiating Contracts: Once clients have an offer, agents negotiate all its terms from payment to length to extensions to residuals.
Packaging: If a talent agency represents actors, writers, and directors, often times they will put them all together into an agency “package” which can be taken out to studios and financiers.What is the difference between a talent agent and a manager

What is the difference between a talent agent and a manager

One of the most common questions from young artists hoping to get signed is what’s the difference between a talent agent and a manager? And more importantly, which do I need?

The simple answer is both. Many people will say managers provide career guidance while agents primarily are concerned with landing you your next job. And while that may be true, the distinction between the two is a little more complicated.

In California and many other states, talent agents must be licensed and individual talent agents must work for one of the many talent agencies. This is because talent agencies negotiate and sign contracts for clients.

As far as how to obtain a talent agency license goes, requirements differ by state. California’s requirements for talent agents working at LA talent agencies are different from New York’s requirements for talent agencies in NYC.

Unlike agents, managers do not need to go through this same licensing procedure and they are not able to negotiate or enter into employment contracts on behalf of their clients.

In addition to an agent and a manager, you might also need an entertainment lawyer.

Wrapping Up

Talent agents sometimes get a bad wrap. But a good talent agent is an essential resource for any artist hoping to land a job and grow their career.

There's no question that agents provide a medley of services, all incredibly important for their talent's future success.

Original Article: https://www.wrapbook.com/blog/essential-guide-talent-agenices