Becoming a manager for an actor/actress can completely benefit you and the artist and numerous ways. Many artists are so creative they don't always know the effective ways of managing themselves or marketing their talent to stand out and succeed. The entertainment industry is a very tough field and getting out there and noticed is just half the battle. So what is an Artist Manager exactly? An artist manager is someone to help guide the artist in any way possible in such a way that they succeed. Here are some great tips to becoming a manager.
1. Experience and or education is key.
Artists want someone that is going to be able to handle the pressure and hold the knowledge of managing them well and knowing how to get them into fame. Gaining a Master's degree in business management or entertainment business can truly help in this situation. Finding local bands, actors, artists, or public figures and helping them establish their career can gain great experience.
2. Management Agreement
Creating a management agreement will only help the you and the artist to stay on track. If any disputes or complications arise, it's always beneficial to have it documented so both parties are able to review the rules and regulations. Management agreements are divided into eight major subject areas:
1. Appointment of Authority
When the artist and manager have agreed on what the compensation to be paid for what the manager's services will be, many issues still need to be resolved. Many of the issues may include percentage base, time of payment, reimbursement of expenses, and other matters connected with the term of the agreement.
4.Terms, Options, and Extensions: The term of the manager agreement is important so both parties know how long they are obligated to abide by the rules set between the manager and the artist. Options should always be considered, because things change constantly and you don't want to feel trapped in a situation. Extensions are also helpful, a future project may arise and may take longer than expected and an extension may be needed.
5. Termination: No one wants to go through any type of termination or cancelling of anything. Everyone wants to hold strong and positive relationships to avoid negative emotions. While managers always hold hope and anticipation for their artist, goals and plans may not always stay up to par.
(Frascogna, 2004)
Now that you're aware of some pretty important tips when becoming an artist manager or know what has to go in, you can get an idea if this is a job you think you may want to pursue.
What's the difference between an agent and a manager?
The difference is quite simple, an agent takes care of booking for shows, movies, etc. A manager oversees everything helps the artist succeed including contacting agents to help with booking.
Reference: Frascogna, X. (2004). This business of artist management. (4th ed., pp. 50-60). New York: Crown Publishing Group.
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1. Experience and or education is key.
Artists want someone that is going to be able to handle the pressure and hold the knowledge of managing them well and knowing how to get them into fame. Gaining a Master's degree in business management or entertainment business can truly help in this situation. Finding local bands, actors, artists, or public figures and helping them establish their career can gain great experience.
2. Management Agreement
Creating a management agreement will only help the you and the artist to stay on track. If any disputes or complications arise, it's always beneficial to have it documented so both parties are able to review the rules and regulations. Management agreements are divided into eight major subject areas:
1. Appointment of Authority
- Appointment Designation: This provision designates the manager to perform certain specific acts. It is important that the appointment decisions be made clear.
- Manager's Duties: All of what the manager is to do to help the artist should be laid out on the table and gone over multiple times. Here are a few key phrases used in the artist management world.
- To represent the artist as an adviser in all business negotiations.
- To supervise professional engagements.
- To consult with employers in the entertainment and literary fields.
- To cooperate with and supervise relations with any booking and literary agents whom the manager may from time to time employ with the artist's consent.
- Power of Attorney: A power of attorney is an instrument authorizing another person to act as one's agent or attorney.
- The Employment Agency Disclaimer: Many management agreements disclaim any duty to employment for the artist.
When the artist and manager have agreed on what the compensation to be paid for what the manager's services will be, many issues still need to be resolved. Many of the issues may include percentage base, time of payment, reimbursement of expenses, and other matters connected with the term of the agreement.
- Establishing the Percentage Base: Once the management percentage has been established, after the form of compensation is utilized, the parties will need to determine the base of the percentage to apply. Most managers earn about 10-15% of the artist's income.
- Determining the Time of Payment: Determine when you as the manager will be getting paid. Time of payment may be monthly, quarterly, or semiannually.
- Reimbursement of Expenses: Normally a manager will be reimbursed for all of the direct expenses an artist needs. Depending on whether or not the artist's money is at stake, may determine a negotiation between the artist and the manager to where both are able to benefit.
4.Terms, Options, and Extensions: The term of the manager agreement is important so both parties know how long they are obligated to abide by the rules set between the manager and the artist. Options should always be considered, because things change constantly and you don't want to feel trapped in a situation. Extensions are also helpful, a future project may arise and may take longer than expected and an extension may be needed.
5. Termination: No one wants to go through any type of termination or cancelling of anything. Everyone wants to hold strong and positive relationships to avoid negative emotions. While managers always hold hope and anticipation for their artist, goals and plans may not always stay up to par.
(Frascogna, 2004)
Now that you're aware of some pretty important tips when becoming an artist manager or know what has to go in, you can get an idea if this is a job you think you may want to pursue.
What's the difference between an agent and a manager?
The difference is quite simple, an agent takes care of booking for shows, movies, etc. A manager oversees everything helps the artist succeed including contacting agents to help with booking.
Reference: Frascogna, X. (2004). This business of artist management. (4th ed., pp. 50-60). New York: Crown Publishing Group.
