Hollywood Director 1992

[Chapter 117: The Talent Agency]

The idea of starting a talent agency had not been forgotten.

One day, during a casual conversation, Sam Haskel suggested that it might be better to buy an existing agency rather than start one from scratch. As a film company owner and a well-known director, he was already stretched too thin with responsibilities. Acquiring an agency and passing off the management to someone else would lighten the load considerably.

Link agreed with his perspective.

"Sam, do you have any recommendations?"

"Are you really interested in investing in a talent agency? Let me tell you, this industry is an intricate web. It requires not just capital but also connections and political resources that the average person can't easily navigate," Sam replied, shaking his head.

"I'm not looking to run an agency; I just want to make an investment and earn some money. Based on my experience, I see the film industry becoming more profitable over the next few years. With more movie stars emerging, talent agencies will likely see increasing profits. Investing in one seems like a smart financial strategy. Additionally, after the huge success of Paranormal Activity, many filmmakers under CAA have made it clear they're targeting me. My future prospects in this industry are going to be tougher than most. Being a shareholder in an agency means I won't have to fear CAA breathing down my neck," Link explained.

"Sorry, Link. After you came under fire, I reported to the company and asked them to reach out to a few star clients to support you, but my request got turned down."

Sam Haskel's usually warm eyes revealed a hint of helplessness. He gestured outside the office. "Even though you're a WMA client, the company isn't closely associated with you; they haven't made money off your film projects, so they aren't keen on backing you.

Moreover, within WMA itself, many filmmakers were resentful of Paranormal Activity's success. Some were jealous of your youth and wealth; others believed your frequent publicity stunts were undermining the industry's standards. There were plenty of reasons for the negativity.

But I think what you've achieved is incredible: a film that cost $20,000 grossing $600 million worldwide is just amazing. Link, it's an honor to be your agent."

Sam Haskel excitedly patted Link on the shoulder.

"It's not that big a deal; I just had some lucky breaks," Link chuckled.

"Yes, lucky breaks, but how many people in the entertainment industry actually make a name for themselves with luck?"

Sam paused, studying him. "Link, I'm an agent with connections in the media world. The next time you're stirring up news, remember to bring me along so I can earn some money too."

"Absolutely. Back to the talent agency, you've been with WMA for over a decade. Have you considered going out on your own? We could partner up."

"Go out on my own?"

"Yes. After Michael Ovitz left to start CAA, and David Geffen became vice president of Geffen Records, Paul Benedek established UTA, and even Michael Eisner and Barry Diller made names for themselves after leaving WMA. They were all agents at WMA before becoming influential figures in the industry.

Sam, you've been at WMA longer than Ovitz and possess more capability. If you're willing to leave WMA and partner with me to start an agency, in ten years -- no, in five -- you'll be at least as respected in Hollywood as they are."

Link urged.

Sam Haskel's breath quickened at Link's words, and he unconsciously clenched his fists.

"Alright!"

"You're in? Then it's settled!"

"Wait! Wait!"

Sam Haskel took a breath, wiped the sweat from his forehead, and chuckled sheepishly. "No, no, almost got talked into it. Link, it's not that I don't want to go out on my own; it's just that the times have changed.

In the seventies, WMA dominated the field with little competition, which was a big factor in helping people like Ovitz succeed. Now there are three major talent agencies and thousands of smaller ones competing with each other, collapsing left and right. The competition is fierce; hundreds of agencies shut down every year.

Over the past few years, more than a dozen seasoned agents have left WMA to go solo, and years later, except for Paul Benedek, all of them ended up failing with incomes far lower than they would have made at WMA.

I'm just a mid-level agent now; I don't have the connections or skills of those who left. It's harder than ever to succeed, even if you invest a million bucks, I wouldn't have the confidence to make it work."

Sam Haskel gave a self-deprecating laugh and took a sip of his now lukewarm coffee. "If this conversation had happened when I first joined WMA, I would have clung to your leg begging to partner up. After over a decade in this industry, seeing so much behind-the-scenes action, I've lost the nerve I had in my younger days. With my current situation, starting something new is likely to fail."

"I get that."

Link nodded, smiling. This seemed to be a case of age making one more cautious.

"Introduce me to a good agency that might be looking for investment; once it's done, I'll give you a commission."

"Ha! I can do that. I've dealt with many mid-sized talent agencies in the industry."

Sam Haskel pulled out a pile of information to help locate suitable targets.

...

A few days passed, and under Sam Haskel's guidance, Link invested $7.5 million in UTA, acquiring a 12% stake. UTA had just been established in 1991 following the merger of the Paul Benedek Agency and Leading Artists Agency. One of the founders of the Paul Benedek Agency, Marty Bauer, had formerly been a senior agent at WMA and had a history with Sam Haskel.

Currently, UTA was a mid-size agency with only 26 agents and a mere 65 clients, mainly consisting of movie stars, directors, and elite television figures. Among the more notable clients were the Coen Brothers, actress Laura Dern, and singer Sting -- none of whom were mega-stars.

Compared to CAA, WMA, and ICM, it still had a long way to go, existing in the crevices of the industry.

However, UTA had impressive potential for growth. With solid business standards, they steadily positioned themselves as Hollywood's fourth largest agency. They represented clients from around the globe, including actors and singers from various regions, and their market value had surged to hundreds millions of dollars.

This was why Link had chosen to invest in UTA rather than another mid-sized agency. Moreover, the agency welcomed Link's investment due to their nascent stage of development and need for funding as they navigated through their IPO phase.

On the other hand, UTA viewed Link's identity as a film company owner and renowned director as advantageous, knowing they could benefit significantly from the collaboration.

...

Once Link became a shareholder, Monica Bellucci, Renee Zellweger, and Jim Carrey swiftly joined the agency as clients. Monica became his representative on the UTA board.

Link remained with William Morris, now an important client of WMA and a shareholder at UTA, so he could enjoy the services of both agencies without the need to switch entirely.

...

Ding ding--

"What are you thinking about?"

At the dining table, Monica licked the yogurt off her spoon, looking at him with a bright smile.

"Has the company set you up with any new scripts?"

"Yeah, but I turned it down. I want to finish filming Ace Ventura: Pet Detective before I consider other roles. Playing a part is exhausting."

"You're right. Focusing on doing a single role well is far better than half-heartedly juggling ten. We're not short on resources; take your time to choose and don't worry about having roles available," Link said, brushing her cheek to wipe a bit of yogurt off her lips.

Monica smiled gently, straddling him and kissing him.

Dinner wrapped up with a little dessert, and the night unfolded from the dining table to the bedroom, leading into another long, winding night.

*****

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