The Talent Representation Industry Needs Disruption and V2M is here to do just that
Actors, Writers, Directors, and other types of artists within the TV/Film industry should have more control and compensation; and this is how V2 Management plans to give it to them.
By: V2 Management
Many artists in the entertainment industry work sporadically and when they do work, most of the time they're obligated to pay a representative a percentage of their salary. This has been the "classic" model for years in the entertainment industry and people have been okay with it because they have been led to believe it was the only way. The commissions gathered by these representatives can cost a "barely working artist", up to thousands of dollars, no matter how many hours or how much effort the representative puts into the project. V2M feels this is an archaic practice and changes were needed.
According to Salary.com, the median income in the U.S. for an Actor/Performer was $67,342 in 2022. This isn't too bad when you consider the average income in the U.S. was around $55,640 in 2021 (Bureau of Labor Statistics), but when you take into account that 10% of that income was to be paid to our management firm and another 10% to a Talent Agent, before taxes, that puts the perform at well below the average U.S. income. Another thing these performers would have to consider is the cost of living in cities, such as Los Angeles, where a large amount of the work is. In recent years, there has been a huge migration south to Atlanta, where the cost of living is significantly less than in California or New York, but the same problem persists.
A very small portion of artists in the entertainment industry work constantly and those artists may need a team in order to manage their workload, and schedule and provide constant advice. Brandon Ross, the Co-Founder of V2M, who has worked in the industry for more than 20 years, says that this is the exception, not the rule. "If you are Jenna Ortega, the star of a Netflix show that just broke a handful of records, then you need full-time advisors in your corner to help you navigate the wave of offers coming your way, a Publicist to help manage the media demands and a Business Manager to ensure your books are in order, because you simply may not have the capacity to do so." The same could be said for Actor, Kyle Chandler ('Super Pumped' & 'Mayors of Kingstown'). He's not a household name necessarily, but works constantly and is most likely presented with opportunities all the time. He too would need full-time advisors to guide his career to his desired destination.
V2M's new business was created for those artists who may book a few jobs per year and have an annual income of around $150,000 or less. The company plans to initially offer 4 key services when it launches this model during Sundance 2023. Some of the services will be based on an hourly rate and some will be a flat fee. The initial services are Contract Negotiations, Agent Procurement, Career Advisement, and Financial Counseling.
The ultimate goal of this change is to offer an alternative solution to artists and a way for them to save money while working to reach their career goals. We believe many artists will appreciate our new approach and we look forward to working with them. To see the list of individual services V2M will be offering initially, please visit https://www.v2management.com/
Page Updated Last on: Jan 18, 2023