56-467: Ashley-Famous was a talent agency started in 1945 by talent agent Ted Ashley . The agency was responsible for many hit television shows and had several famous clients. It changed names and ownership a few times, eventually becoming one of the agencies that in 1975 formed International Creative Management . Ted Ashley was known to be a skilled talent agent who would lead top clients away from other agencies and bring them to his establishment. As owner of
112-645: A binding employment offer on behalf of their client. A prominent difference between agents and managers under California state law is that licensed talent agents and employment agents are the only entities legally allowed to seek work on behalf of their clients. This legal distinction has enabled artists such as the Deftones, Pamela Anderson, Nia Vardalos, Freddie Prinze Jr., and others to break contracts with their managers and avoid commissions owed according to those contracts by proving "unlicensed procurement" in court. Because enforcement against talent managers procuring work
168-404: A casting director, advertising agency, production company , photographer, or direct client if the client has an "in-house" production staff. Agents promote talent to the buyers, submitting talent who have the appropriate age, race, sex, look, talent, etc. that the buyer is seeking for his/her project. Usually, an agent submits the actor's head shot or the model's composite card or portfolio to
224-440: A company they perceive as possibly lacking liquidity. For example, if all shareholders were to simultaneously try to sell their shares in the open market, this would immediately create downward pressure on the price for which the share is traded unless there were an equal number of buyers willing to purchase the security at the price the sellers demand. So, sellers would have to either reduce their price or choose not to sell. Thus,
280-419: A demo CD, developing and releasing press kits, planning promotional activities, and booking shows. A music manager will gain access to a recording studio, photographers, and promotions. They will see that CD labels, posters, and promotional materials appropriately represent the band or artist and that press kits are released in a timely manner to appropriate media. Launching a CD with complementary venues and dates
336-401: A long period of time after maturity into a profitable company. However, from 1997 to 2012, the number of corporations publicly traded on US stock exchanges dropped 45%. According to one observer ( Gerald F. Davis ), "public corporations have become less concentrated, less integrated, less interconnected at the top, shorter lived, less remunerative for average investors, and less prevalent since
392-513: A public company. In the United Kingdom , it is usually a public limited company (plc). In France , it is a société anonyme (SA). In Germany , it is an Aktiengesellschaft (AG). While the general idea of a public company may be similar, differences are meaningful and are at the core of international law disputes with regard to industry and trade. Usually, the securities of a publicly traded company are owned by many investors while
448-406: A regular basis often employ an individual to assemble the schedule of events. This individual is the venue's buyer and should not be confused with the booking agent, who presents a roster of available acts to the buyer. Booking agents may also have contacts known as promoters. These are individuals who agree to produce a snake game by locating a wide open field, providing a sound system, and assembling
504-553: A separate entity, its former shareholders receiving compensation in the form of either cash, shares in the purchasing company or a combination of both. When the compensation is primarily shares then the deal is often considered a merger . Subsidiaries and joint ventures can also be created de novo . That often happens in the financial sector. Subsidiaries and joint ventures of publicly traded companies are not generally considered to be privately held companies (even though they themselves are not publicly traded) and are generally subject to
560-420: A staff. Producing a show in this manner at a location rented out for a single evening is called "four-walling," as the process entails renting a venue and receiving no additional services or technical equipment other than the space itself. This has often been the only available option for underground musicians lacking enough popular appeal to gain access to more conventional performance venues (see: Punk rock , but
616-414: A talent's gross earnings. Managers do not face the same restrictions. Actors may be interested in working theatrically (stage, film or television) as well as in commercials. Some agents will handle all types of acting work, while others may specialize in a particular area. Some agents work only in the field of television, or only in film and television. Typically, the larger the agency, the more specialized
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#1732904772931672-626: A third-party company to build specific bands using their own database of vetted musicians, while other cover band agencies work with session musicians that provide a 'flexible' line-up for each act. Cruise ship industry Booking agents are also used for the cruise ship industry, where several different categories of entertainers are needed. These can include individual musicians to be part of the ship's orchestra, small bands and ensembles, as well as variety entertainers such as singers, instrumentalists, magicians, comedians and acrobats. Artists looking to work on cruise ships will sign an employment contract with
728-476: Is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( listed company ), which facilitates the trade of shares, or not ( unlisted public company ). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are private enterprises in
784-694: Is a person who finds work for actors , authors , broadcast journalists , film directors , musicians , models , professional athletes , screenwriters , writers , and other professionals in various entertainment or sports businesses. In addition, an agent defends, supports and promotes the interest of their clients . Talent agencies specialize, either by creating departments within the agency or developing entire agencies that primarily or wholly represent one specialty. For example, there are modeling agencies , commercial talent agencies, literary agencies , voice-over agencies, broadcast journalist agencies, sports agencies, music agencies and many more. Having an agent
840-406: Is also a music manager's responsibility. Youth agents are a specialization or subset of theatrical and commercial agents that represent children, teenagers, and young adults. In addition to representation, youth agents must navigate the additional requirements surrounding minors, including legal, educational, parental, and family dynamics. In the U.S., all states have child labor laws that apply to
896-471: Is also used among the genre of raves and various DJ-related events. The cost factor of having a booking agent must be weighed against what the agent can do for clients and buyers alike. Some agents represent several different types of artists, while others represent artists in one main area/genre. Some music agencies deal exclusively with [cover bands], listing exclusive and non-exclusive artists on their rosters. In addition, some agencies will also work with
952-629: Is especially prevalent in such countries as the United Kingdom and the United States. In the United States, the Securities and Exchange Commission requires firms whose stock is traded publicly to report their major shareholders each year. The reports identify all institutional shareholders (primarily firms that own stock in other companies), all company officials who own shares in their firm, and all individuals or institutions owning more than 5% of
1008-609: Is extensive and may include similar duties to that of a press agent, promoter, booking agent, business manager (who is sometimes a certified public accountant , tour promoter, tour manager, and sometimes even a personal assistant. responsibilities of a business manager are often divided among many individuals who manage various aspects of a musical career. With an unsigned act, music managers must assume multiple roles: booking agent, graphic designer, publicist , promoter, and accountant. As an artist's career develops, responsibilities grow. A music or artist manager becomes important to managing
1064-512: Is largely carried out through civil litigation and not criminal penalties, managers directly seek out work in defiance of state laws, as clients out of self-interest will seldom object to them doing so, and cases alleging illegal procurement are infrequent. The Writer's Guild, Screen Actor's Guild, and Director's Guild, among labor guilds, strike agency franchise agreements that specify certain regulations and privileges reserved solely for agents, including setting maximum commissions at ten percent of
1120-469: Is not required, but does help the artist get jobs (concerts, tours, movie scripts, appearances, signings, sport teams, etc.). In many cases, casting directors or other businesses go to talent agencies to find the artists for whom they are looking. The agent is paid a percentage of the star's earnings (typically 10%). Therefore, agents are sometimes referred to as "10 percenters". Various regulations govern different types of agents. The legal jurisdiction in which
1176-408: Is privately held can buy out the shareholders of a public company, taking the company off the public markets. That is typically done through a leveraged buyout and occurs when the buyers believe the securities have been undervalued by investors. In some cases, public companies that are in severe financial distress may also approach a private company or companies to take over ownership and management of
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#17329047729311232-457: Is the only person who can get the job. For their work, agents take a 10 to 20% commission of the gross, depending on whether the job is union (such as SAG-AFTRA) or not. Union jobs are paid per negotiated guidelines, but in non-union jobs, the pay is sometimes delayed. A well-established agent will have networks upon networks of contacts. Also, agents have access to professional casting services. Many of these casting resources are not available to
1288-404: Is when a company has little or no trading activity and the market price is simply the price at which the most recent trade took place, which could be days or weeks ago. This occurs when there are no buyers willing to purchase the securities at the price being offered by the sellers and there are no sellers willing to sell at the price the buyers are willing to pay. While this is rare when the company
1344-469: The private sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states and so have associations and formal designations, which are distinct and separate in the polity in which they reside. In the United States , for example, a public company is usually a type of corporation though a corporation need not be
1400-582: The "big five." or "top five". In 2009, Endeavor Talent Agency and William Morris merged. Later, CAA and ICM merged in 2022. Differences between agents and managers; the difference between the roles of agents and managers has become smaller and more blurred. A frequent definition of the role of a talent manager is to "oversee the day-to-day business affairs of an artist; advise and counsel talent concerning professional matters, long-term plans and personal decisions which may affect their career." Considerable overlap exists as talent agents may opt to fill exactly
1456-451: The 1934 Act are generally deemed public companies. A public company possess some advantages over privately held businesses. Many stock exchanges require that publicly traded companies have their accounts regularly audited by outside auditors and then publish the accounts to their shareholders. Besides the cost, that may make useful information available to competitors. Various other annual and quarterly reports are also required by law. In
1512-456: The 1950s to 1960s, a monumental shift occurred in how studios produced films and reduced the cost of exclusive and expensive actors. After the shift, actors and actresses were working for the studios but were not owned by one major studio entity, so they were able to work with other studios. This shift has meant that agents were now seen as a necessity instead of an option. Agents became third parties who negotiated between studios and clients, making
1568-626: The British talent agency Robin Dalton Associates in 1971. In 1975, Josephson merged IFA with Creative Management Associates to form International Creative Management . Agents who worked for the firm over the years included Kay B. Barrett , David Geffen , Frank Konigsberg , Mike Medavoy , Marvin Minoff , David De Silva , and Martin Baum . Talent agency A talent agent , or booking agent ,
1624-546: The Hollywood entertainment industry. In California, because talent agencies are working with lucrative contracts, the agencies must be licensed under special sections of the California Labor Code, which defines an agent as a "person or corporation who engages in the occupation of procuring, offering, promising, or attempting to procure employment for an artist or artists." Since the decline in viewership in theaters from
1680-492: The United States, the Sarbanes–Oxley Act imposes additional requirements. The requirement for audited books is not imposed by the exchange known as OTC Pink. The shares may be maliciously held by outside shareholders and the original founders or owners may lose benefits and control. The principal–agent problem , or the agency problem is a key weakness of public companies. The separation of a company's ownership and control
1736-435: The agency represented clients from the entire spectrum of the entertainment industry including musicians, playwrights, and actors and actresses from both the big and small screens. Some of its more famous musical clients included Perry Como , Trini Lopez , Janis Joplin , The Doors , and Iron Butterfly . In the film industry , it represented Burt Lancaster , Rex Harrison , Yul Brynner , and Ingrid Bergman . Arthur Miller
Ashley-Famous - Misplaced Pages Continue
1792-540: The agency was renamed the Ashley-Steiner Agency . In 1962, Ashley-Steiner purchased the Famous Artists Agency from Charles K. Feldman and renamed the merged entity Ashley-Steiner-Famous Artists . In 1964, Ira Steiner resigned to form his own film production company; Ashley's agency was renamed Ashley-Famous . In 1966, Ashley-Famous signed a deal with Artie Ripp and his two co-principals to act as
1848-787: The agency, Ashley would have made circa 10% on each production. One of Ashley-Famous's claims to fame was its ability to market and sell hit television series, many of which ended up being staples of popular culture and/or cult classics. It is said that Ashley was responsible for putting over 100 television shows on the air during his time at this agency. These shows were of all different genres, including science fiction , spy fiction and parodies , and game shows . Examples include Candid Camera , Juvenile Jury , The Danny Kaye Show , Mission: Impossible , Get Smart , The Carol Burnett Show , Medic , Star Trek , Dr. Kildare , The Defenders , Tarzan , Name That Tune , The Twilight Zone and The Doris Day Show . Under Ashley,
1904-774: The agent and client partnership). As a result of the sale, Ashley became CEO of Warner Bros. The agency was sold again, to Marvin Josephson , in 1968 because of conflicts of interest that violated anti-trust laws ; it separated from Warner Bros. and became known as International Famous Agency (IFA). Under Josephson, IFA became the first publicly traded talent agency. In 1971, IFA acquired Jerry Perenchio 's Chartwell Artists agency, which represented such stars as Richard Burton , Elizabeth Taylor , Jane Fonda , Marlon Brando , Henry Mancini , Elton John , Glen Campbell , Johnny Mathis , Donovan , José Feliciano , Sérgio Mendes , Rod Taylor , and Michael Landon . IFA also acquired
1960-415: The agent conducts business and artist's unions set the rules. There are also professional associations of talent agencies. Talent agents (artist managers) are considered gatekeepers to their client's careers. They have the ability to reshape and reconstruct their client's image. They are dealmakers and assist their clients by orchestrating deals within the entertainment and event industries, more specifically
2016-416: The agents within it.In the segment talent management agencies, there is one more important segment called Artist booking agency who deals in commercial shows live performance booking, performances for wedding, corporate and social events etc. An agent has two sets of clients: the "talent" (actors, models, voice-over artists, bands, musicians, stand-up comedians, dancers etc.) and the "buyer". The buyer can be
2072-402: The artist who will fit their needs and available budget. Many of the major booking agencies refuse to represent clients who are not already signed to a major record label and have national distribution of their music. Because of this, artists on independent record labels often seek representation with an independent booking agency. Bars and nightclubs that specialize in presenting live music on
2128-409: The buyer. After the buyer has made choices, the agent then arranges an audition (or, for models, a "go-see" or open call). After the buyer has met the talent, the buyer will contact the agent to see if any of the talent will be hired. The agent will coordinate the details of wardrobe, directions, etc., as well as negotiate the contract or pay. The agent's job is to get the talent to audition; the talent
2184-432: The company. One way of doing so would be to make a rights issue designed to enable the new investor to acquire a supermajority . With a supermajority, the company could then be relisted, or privatized. Alternatively, a publicly traded company may be purchased by one or more other publicly traded companies, with the target company becoming either a subsidiary or joint venture of the purchaser(s), or ceasing to exist as
2240-457: The cruise line and a separate commission contract with the booking agent. The agent will usually be based in the country of origin for the artist. A music manager (or band manager) handles many career issues for bands, singers, record producers, and DJs. An artist manager is hired by a musician or band to help with determining decisions related to career moves, bookings, promotions, business deals, recording contracts, etc. The role of music managers
2296-398: The entertainment industry. In California, the center of the entertainment industry, there are specific industry regulations and laws to protect minors working in entertainment that include: limited working hours and a requirement to set aside a portion of earnings into a trust. [REDACTED] Media related to Talent agents at Wikimedia Commons Publicly traded A public company
Ashley-Famous - Misplaced Pages Continue
2352-523: The exclusive booker for the majority of Kama Sutra Records ' artists and all its writers and producers. In 1967, Ted Ashley sold Ashley-Famous to Steve Ross , an entrepreneur in charge of Kinney National Company , in exchange for 12,750,000 in Kinney stock because of personal reasons that involved not wanting to be an agent anymore. In an interview, Ashley said, "There’s something undermining to one’s sense of one’s self about that whole relationship" (referencing
2408-444: The firm's stock. For many years, newly-created companies were privately held but held initial public offering to become publicly traded company or to be acquired by another company if they became larger and more profitable or had promising prospects. More infrequently, some companies such as the investment banking firm Goldman Sachs and the logistics services provider United Parcel Service (UPS) chose to remain privately held for
2464-726: The general public. Although most of the successful agents are private individuals unknown to the public, some are celebrities in their own right. Notable current and former talent agents includes David Begelman , Ari Emanuel , Freddie Fields , Johnny Hyde , Irving Paul Lazar , Sue Mengers and Lew Wasserman . Some talent agencies specialize in the representation of television news broadcast journalists and television news magazine hosts. The journalists and hosts represented by these agents primarily work at television stations in local markets or at networks. There are many job titles for broadcast news journalists, such as anchors, reporters, weathercasters, sportscasters, correspondents and hosts. In
2520-430: The many different pieces that make up a career in music. The manager can assist singers, songwriters, and instrumentalists in molding a career, finding music producers, and developing relationships with record companies, publishers, agents, and the music-loving public. The duties of an active music manager will focus on developing a reputation for the musician and building a fan base, which may include mastering and launching
2576-500: The music world, booking agents are different from talent managers. Booking agents are the people who actually book concerts for the artists they represent. These agents make all of the arrangements with the promoters of the shows. The booking agent presents the promoter or producer of the concert with a performance agreement , which stipulates the artist's requirements. Items may include lighting , sound, meals, hotel accommodations, and transportation. For concert buyers, they work to find
2632-449: The need for the agents' services an imperative for each party. In the 1980s, new agencies were established to compete with the "Big five." In 1991, Bauer-Benedek merged with Leading Artists Agency to form what became United Talent Agency. These agencies were Traid Artists and InterTalent. Traid Artist would eventually be sold to William Morris Agency in 1992, and InterTalent would diminish when its partners dispersed between UTA and ICM in
2688-425: The number of trades in a given period of time, commonly referred to as the "volume" is important when determining how well a company's market capitalization reflects true fair market value of the company as a whole. The higher the volume, the more the fair market value of the company is likely to be reflected by its market capitalization. Another example of the impact of volume on the accuracy of market capitalization
2744-497: The price per share. For example, a company with two million shares outstanding and a price per share of US$ 40 has a market capitalization of US$ 80 million. However, a company's market capitalization should not be confused with the fair market value of the company as a whole since the price per share are influenced by other factors such as the volume of shares traded. Low trading volume can cause artificially low prices for securities, due to investors being apprehensive of investing in
2800-446: The same reporting requirements as publicly traded companies. Finally, shares in subsidiaries and joint ventures can be (re)-offered to the public at any time. Firms that are sold in this manner are called spin-outs . Most industrialized jurisdictions have enacted laws and regulations that detail the steps that prospective owners (public or private) must undertake if they wish to take over a publicly traded corporation. That often entails
2856-742: The same roles for their clients out of a financial interest in developing the careers of their talent and currying their favor. Various state laws and labor guild rules govern the roles reserved to agents, as well as specifying certain special rights, privileges, and prohibitions. In the state of California, the labor code requires licensing of talent agencies and includes regulations such as criminal background checks, maintaining separate operating accounts and client trust accounts, and limiting total commissions to 25 percent, among other regulations. In contrast, management companies are described as "often unregulated." Agents also have certain privileged powers in situations of verbal agreement and can legally agree to
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#17329047729312912-408: The same year. As of 2022 , the top three Hollywood talent agencies are William Morris Endeavor (WME), Creative Artists Agency (CAA), and United Talent Agency (UTA). Except for ICM Partners , each agency has its own affiliated production company, which may hire the agency's clients. In 1989, the three major agencies were William Morris, ICM, and CAA. During the 2000s, the majors were known as
2968-492: The shares of a privately held company are owned by relatively few shareholders. A company with many shareholders is not necessarily a publicly traded company. Conversely, a publicly traded company typically (but not necessarily) has many shareholders. In the United States, companies with over 500 shareholders in some instances are required to report under the Securities Exchange Act of 1934 ; companies that report under
3024-428: The turn of the 21st century". Davis argues that technological changes such as the decline in price and increasing power, quality and flexibility of computer numerical control machines and newer digitally enabled tools such as 3D printing will lead to smaller and more local organization of production. In corporate privatization, more often called " going private ," a group of private investors or another company that
3080-409: The would-be buyer(s) making a formal offer for each share of the company to shareholders. The shares of a publicly traded company are often traded on a stock exchange . The value or "size" of a company is called its market capitalization , a term which is often shortened to "market cap". This is calculated as the number of shares outstanding (as opposed to authorized but not necessarily issued) times
3136-539: Was one of the playwrights the agency represented, as well as Yukio Mishima . Ted Ashley had been working at the William Morris Agency (where he started off as a talent agent at the age of 20) when in 1945 he decided to break off and start his own talent agency at the age of 23. It started out in New York City as Ted Ashley and Associates . In 1950, Ashley was joined by William Morris agent Ira L. Steiner and
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