The completion of CAA’s acquisition of ICM Partners last month created a Hollywood buzz about the future of the agency world, with the massive merger turning the Big Four (CAA, ICM, WME and UTA) into the big three.
The 10-month delayed closing of the deal was immediately followed by news that more than 100 ICM employees would not be transitioning to CAA. While questions about how integration will continue to affect the internal team remain high in minds, the entertainment industry is also looking for indications of how CAA’s $750 million purchase of ICM will affect everyone else, too.
talk with diverse Via email, Leslie Seibert, Senior Managing Partner at Gersh Agency, explained how she thinks the deal will ultimately benefit mid-sized agencies like hers.
What does the merger between CAA and ICM mean for the industry as a whole?
Leslie Seibert: Congratulations to CAA and ICM on their merger. It’s a new day in the agency’s work, which highlights the difference between a huge agency and a mid-sized agency. I really believe that this merger will benefit an agency of our size to be able to continue to provide a different service than an agency of the size of the Civil Aviation Authority. Here at Gersh, we have always focused on our close relationships with clients and our unique perspective on how to build careers within the Hollywood community. Our principles guide us in providing clients with the opportunity for more tailored and targeted career planning, leading to success and longevity in Hollywood.
What does that mean for the customers of these two companies?
LS: CAA has a broader business scope than our agency. They will handle multiple business platforms, as Gersh will remain focused on talent representation and job building. The merger has already caused more than 100 employees to lose their jobs, which is unfortunate in this current climate. I’m sure more restructuring will take place and we can only wait and see what that ensues. As a strong history of hands-on representation, Gersh will continue to focus on our strengths; Strong personal, creative and negotiation skills to benefit our actors, writers and filmmakers. This merger gives us the opportunity to highlight our differences and give talent another option to strengthen and build their careers.
Are there specific parties that could benefit from the acquisition outside the scope of the Civil Aviation Authority?
LS: Frankly, I see continued consolidation in the agency world in favor of mid-sized agencies like Gersh. Talent is looking for personal, aggressive, and focused representation. We deliver that, and we also have the history, strength, and resources to grow the business around large, multi-link clients. We are the only privately owned agency whose interest is the strongest representation of our clients. In addition, we have the power and resources to navigate any and all projects, while also focusing on the best business outcomes and functionality for our clients.
How do you think this will affect negotiations between agents and studios?
LS: Studios will continue to negotiate and work with interested artists, regardless of their agency representation. Flexibility, not strong armament, will always benefit all parties in a negotiation.
[ad_2]
