What is the ‘Agent Equation’?
The job description of
• Event Management Companies,
• Booking Agents,
• Casting Agents,
• Entertainment Agencies
• Entertainment Consultants
is a flexible entity in the corporate and community worlds. How do they operate and coexist in a competitive world and what do they do? Are there cultural differences (geographic and company based) between the organizations of these entities based on population size of the market pool?
This week sees a slight departure form the regular format of single article per Blog. We commence a 7 part series based around the intricacies and complexities of the three way connection between the ‘The Agent’, ‘The Client’ and ‘The Talent’ relationship; otherwise known as The ‘Agent Equation’.
Part 1. Who Does What?
Event Management Companies potentially oversee every aspect required to produce an event, from conception to delivery. More on this a bit later.
A Talent Agent, or Booking Agent, or Casting Agent, is a person or business entity that finds jobs on behalf of another usually within the entertainment fields.
NOTE: Consultants have slightly different responsibilities than agents but there are guidelines and membership organizations governing their roles. Although there are differences in the details, for the purposes of these articles, which are more about the inter-relationships, the term ‘Agent’ will be used to refer to both:’ Consultant’ and ‘Agent’.
The Agent has two sets of clients: the “Talent” and the “Buyer”.
The Buyer can be anybody/organization who requires any aspect of an upcoming event be filled. Events are of course as diverse as conferences, sporting events, product or venue launches, family days, festivals, advertising campaigns, and so on as the list is endless.
One example of a sequence of events though of course not necessarily chronological:
• The Talent will promote themselves to an agent expecting to remain in the agent portfolio who will in turn
• Promote the Talent to the Buyers.
• The agent will usually be approached by the Buyer for a specific cause briefing the agent on the specific needs.
• In turn the agent will then submit talent from their database that are deemed most appropriate to the nature of the event and within budget.
Typically agents will be paid for their work by adding 10-20% onto a quote from the Talent or may inform the Talent of the fee available for the job usually including their percentage.
Next week Part 2. A further look into job descriptions of the key players.