Newest. ICM and UTA recently signed agreements with the union, but the other big agencies WME and CAA have not. I started thinking about what was needed, and Range started to form in my headoh, the markets are changing this way and new technologies are coming that are gonna shift content distribution again, and theres a bunch of little things we can do to create a better culture and a better environment, Micelli says. The distinction between agents and managers can seem nebulous, but there are key differences. The unanswered question in the announcement today is what clients the new company will start with, and whether those who already have managers will be open to splitting commissions with other managers, or leave their existing agencies. It didnt make the new venture many friends among agencies which watched key players walk out the door and word is that when the exiting agents met with CAA brass, they had the document in their hands. But the pandemic didnt cause the departures, it just accelerated them. He remains a minority investor, with additional funding from New York Knicks coach David Fizdale, Microsoft CMO Mich Mathews-Spradlin and Grubhub founder/CEO Matt Maloney. Tom Sizemore Dies: 'Saving Private Ryan' & 'Black Hawk Down' Star Was 61; Reactions + Career In Photos. You become their partner versus just a rep, says an agent turned manager. Statement yellow elevator pitch example. Deadline called the news a bombshell. An insider told The Hollywood Reporter that such an exodus was unheard of. During the battle with the WGA, CAAs Lourd argued in a legal declaration that the ongoing dispute had made agency clientslike Lindelof, who signed with Rangeripe for poaching. Traditional power structures are shifting because what clients want is shifting. Some agents were clearly part of Americas Great Resignation: Facing layoffs and pay cuts because of the pandemicand suddenly stripped of the power lunches and premieresthey simply reconsidered their careers. They made their dramatic pivot at the height of industry instability; movie theaters remained closed from Covid, production was slow to rebound as no one was writing Covid policies, and that meant no completion bonds; and studio tentpoles were being unloaded to streamers. For our 29th annual Hollywood cover, a dozen captivating young stars gather for the after-party of our dreams. We all have the same promise to each other, which is like, lets go take a shot and build something.. July 10, 2021. It has been nearly two years since a group of the best and brightest young agents and partners told their bosses they were stepping away from their million-dollar salaries to follow former eOne strategy officer and CAA television veteran Peter Micelli and be the founding partners of a new management company, Range Media Partners. In April 2019, the writers union instructed its members to fire their agents who did not sign a deal with the WGA to end the longstanding practice of packaging fees, further eroding a revenue stream for agencies. Cohen converted SAC Capital to Point72 Asset Management, a vehicle to invest his own wealth. Total fundraising numbers for each startup in the list below are according to PitchBook data . Craft an elevator pitch that's a succinct briefing of your event. Wendy Lee is an entertainment business reporter, covering streaming services such as Netflix, Amazon Prime Video and Apple TV+. By saying were going to do something more intimate and boutique with less clients, were going to spend more time on the things that are either not on the menu or hard to achieve because they do take a lot of time. 3. Sandra Kang from CAA Global Brands Group, CAA Foundations Rachel Kropa, and manager Byron Wetzel (a New York-based manager who runs Wetzel Entertainment Group and has management clients including Michael Shannon) will round out the lineup of principals, with an additional founding member about to be named to lead a music division. Due respect to the memory of Entourages explosive madman Ari Gold, but a lot of hard-driving agents decided there was a better way to generate power and better places to hug it out. We found out that there are 101,680 online retailers who fit this profile so the total estimated obtainable market size is $750 million. Are you tasked with using content to market a "boring" industry, and feeling envious of those who get to promote "fun" industries? Below is an example from mobile payment service Square, which actually exhibits "best," "base," and "worst" case financial scenarios. Range Media, led by former CAA agent Peter Micelli, who most recently headed up strategy at production company Entertainment One, has already brought a dozen top names including CAAs Dave Bugliari, Michael Cooper, WMEs Rich Cook and UTAs Susie Fox, Chelsea McKinnies on board. Engaging Content Marketing for Boring Industries from Market MindShift. In 2020, CAA created a board of top agents to help manage the agency. But who will the next generation be if younger agents keep changing lanes, though? By subscribing, I agree to the Terms of Use and Privacy Policy. Contact Email info@rangemp.com. Here's your step-by-step guide. Wherever there are thrones, there are games. In a civil settlement with federal regulators in 2016 Cohen, who was not criminally charged, was barred for two years from managing outside funds. |. But it was coupled with this new opportunity to learn and sit on the other side of the table. Movie agent Jim Toth and top sports rep Nick Khan left for new opportunities too. Media Pitch Deck Examples. Event. I dont think that theres any management company that thinks Range is anything other than an agency masquerading as a management company to get around the rules, says one longtime manager. Word of Cohens involvement in the new management venture drew surprise in liberal Hollywood, particularly in light of Cohens support for Donald Trump. Two former agents from UTA and WME, Ben Jacobson and David Stone, recently launched the Framework Collective to manage TV writers. And if talent are forced to make hard choices, are they more likely to dump their agents or their managers first? The results: Their pitch deck helped them raise $321.5M in funding and estimated annual revenue of $79.2M. In fact, this pitch deck had only 10 . Bruss has advised the L.A.s Finest actress on her investment in National Womens Soccer League team Angel City FC, as well as an investment in baby food brand Yumi. This free eBook goes over the 10 slides every startup pitch deck has to include, based on what we learned from analyzing 350+ pitch decks, including those from Airbnb, Uber and Spotify. Even one person crossing the line into illegal behavior is too many and we greatly regret this conduct occurred.. In any case, rare has a migration of agents to a new venture drawn the buzz, and shade, as Ive seen over the week since Deadline divulged the company and its participants. We saw an opportunity to jump-start a company with a client list that would rival even the most powerful management company pretty quickly.. While theyre barred from negotiating dealsthats the domain of agents and lawyersthey can do things that agents cant, like producing and personally investing in a clients tequila empire, say. Stacy Perman is a Company Town reporter working on investigations and enterprise stories covering the entertainment industry for the Los Angeles Times. They seem more engaged than ever, having just guided CAA through a turbulent few years that saw a ferocious battle with Hollywood writers, a crippling pandemic, and a $750 million acquisition of rival agency ICM Partners. So did Peter Micelli, the cohead of CAAs television department, who departed to join independent studio Entertainment One. One thing we were seeing was that you have a lot more direct-to-consumer capabilities through digital and online. 2. In July, CAA said it was laying off 90 agents and furloughing 275 staffers. Signup for Breaking News Alerts & Newsletters. We would like to show you a description here but the site won't allow us. 20 Pitch Decks from Well-Known Media Startups. Pairing Cohen with the other two backers seems to give Range Media Partners plenty of hedge fund and tech money to launch properly. 2. Corinne McCarthy, SEO & Online PR Specialist @ Web Talent Marketing. No one wants to ride out a strike, Im not saying its good for us by any means, says an agency leader, but we have the ability to weather those situations better than most.. The upstart management company that Deadline revealed on August 23 would be launched by Pete Micelli with principal backing from hedge fund billionaire Steve Cohen, now has a name Range Media Partners additional new backing through Microsoft CMO Mich Matthews-Spradlin and Grubhub founder/CEO Matt Maloney. As a company deeply invested in the well-being of its employees, Range Media Partners will establish a broad-based ownership of the success of the company from day one., In a joint statement, the founders said, We are incredibly proud to begin this exciting adventure together. Tell a story of how your startup has solved a problem for your customer so that your investors will have a better understanding of how your product or service works and helps people in the real world. So, a consortium of agents from CAA, UTA, WME and other firms, repping such A-listers as Bradley Cooper, Tom Hardy, Keira Knightley, Emilia Clarke and Ramy Youssef, decided to embrace change, not fear it. He noted that prior to his firms SEC indictment, he was considered a rock star by most heavy hitters in Hollywood because of his rogue style and awesome returns as a hedge fund manager. It was just me and our COO, Rob Whittel, and we literally said to each other, What do we do with the money if nobody comes? ), Sign up for THR news straight to your inbox every day. The goal of the new company is to offer, according to sources, intimate, curated representation and bringing a family style tone to the company and to representation. It is close to what one of Hollywood's biggest, most established management-production . We want Range to be a place where partners, artists and clients can come and say, You know what? Or perhaps it is unanswered questions of how a group of top young agents in their prime ages of 36-45 can build a rep-based business without being predatory, especially when many clients theyve helped build into stars are being asked to remain by their agencies, and already have managers. Its healthy for everybody when things shake up a little bit, he says. Insiders paint a different picture, with sources saying the company is being collaborative and following a non-poaching rule. Best Pitch Deck Examples & Analysis to Help Build Pitch Decks for 2023. Back in the mid-1980s the SEC investigated him for insider trading in connection with RCA shares bought before General Electric acquired the company. There are plenty of people who are still quite happy working their way through the talent agency system. Leaving CAA felt much like a divorce, Micelli tells me. In 2013 Cohens once-powerful firm, SAC Capital Advisors, pleaded guilty to a criminal indictment and paid a record $1.8-billion settlement. Wayfair Pitch Deck. To keep up with the changing landscape, the agencies have chased growth. Tech. But the rise of streaming, the decline of cable, and the erosion of the theatrical business have cut into those fat paychecks. Along with Point72s Cohen wholl supply a substantial minority investment and will be joined by former New York Knicks head coach David Fizdale the other principal investment will comes from former Microsoft CMO Mathews-Spradlin and Grubhubs Maloney. What did Disney actually lose from its Florida battle with DeSantis? Cohen, who sits on the Board of Trustees at the Museum of Contemporary Art in Los Angeles and Museum of Modern Art Board of Trustees in New York, established a foundation with his second wife Alexandra in 2001 that supports childrens health, education, veterans and the arts. But what happens when theyre gone? A staple of the best pitch deck lists, Mint is a personal financial app to help track spending and savings. I also set aside time every week for creative time to think about ideas and about how to help somebody get to the next level, she says. We've put together 17 pitch decks from notable entertainment startups for you to learn from the best (and apply these strategies to your own business For his part, Micelli says hes focusing on growing Range into something he can pass on to the next generation. Operator of a talent agency intended to offer curated representation. Pitch deck. Agents wear nice suits and drive fancy cars, but its not all its cracked up to be, says a source. And the agencies have been working on succession plans. TikTok's pitch deck is a massive 39-slide presentation covering all aspects of the company and its platform. Marketing. The Range Media Partners team, top from left, Peter Micelli, Rob Whittel, Mackenzie Roussos, Susie Fox, Jack Whigham; middle, Sandra Kang, Mick Sullivan, Matt Graham, Natalie Bruss, Rich Cook; bottom, Chelsa McKinnies Michael Cooper, Byron Wetzel, Dave Bugliari, Rachel Kropa. Slide 1: Overview of Brand Partnership Company. Long heralded as the most successful trader of his generation, the venture appears to be his first major entertainment investment. The range hires surprised the industry. Range Media Partners, the talent representation company launched by an army of former top agents last year, is jumping into the world of betting and gaming. The writer we pitched ended up connecting us with a reporter at CNBC. Operating Status Active. These wrongdoers do not represent the 3,000 honest men and women who have worked at the firm during the past 21 years. Alto Pitch Deck. With this animated .pptx template presentation you will be able to make a dynamic presentation that will captivate your audience. Your pitch deck boils down to the essential elements of your business plan. He snapped up a Jackson Pollock painting from David Geffen for $52 million and paid $101 million at auction for Giacomettis 1950 sculpture, The Chariot.. Its definitely a less desirable job today.. We want to hear from you! Training. As a company deeply invested in the well-being of its employees, Range Media Partners will establish a broad-based ownership of the success of the company from day one., In a 20-page pitch deck to investors reviewed by The Times, the fledgling agency, initially dubbed Moxie Media, heralded itself as the next revolution in media., Proclaiming further that the equity value in the major agencies is in free fall, the pitch went on to declare that there has never been a better time to recruit high end representatives away from their current incumbent. (Docusend reports that readers spend an average of just 2 minutes and 45 seconds reading a pitch deck!) The entertainment community is such a special collection of hardworking artists and personalities, and we are honored to work alongside everyone.. Create a trendy business pitch deck and more with this Company Media Kit Partnership Pitch Deck Template. The pitch deck goes into detail about what your services include and the benefits that you believe (or know!) 2023 The Hollywood Reporter, LLC. 2023 Deadline Hollywood, LLC. Awards. The collapse of the syndication market in television has slashed back-end profits, a lucrative source of income. Justin Izzo. Shyamalans projects are being supported with music and soundtrack needs through Ranges in-house label. On Wednesday it was announced that Cohen's Connecticut-based venture fund, Point72 Ventures, is helping to bankroll a new Los Angeles-based management and production firm, Range Media Partners. Range is clearly trying to position itself as a one-stop shopping center where celebrities can have both management representation and financing for these expanded entities, said Lindsay Conner, partner at Manatt, Phelps & Phillips. Hes certainly a controversial figure, said Tom Nunan, a former network and studio executive who teaches at the UCLA School of Theater, Film and Television. The Los Angeles Art World Is Having Its Gilded Age Moment. Strategy #3: Show What Your Product or Service Can Do. The almighty startup pitch deck that helped Buffer to raise half a million dollars gained popularity by becoming one of the first pitch decks openly shared online. Social. Ive always wanted to do this. We have the venture capital expertise, we have business development expertise, we have the data analytics, were spending an enormous amount of time in Web3 and understanding what the potential of it is and how that impacts artists communicating their stories to the world, Micelli says. The (non-representative) sample set of investor pitch decks below include eight Seed decks, four Series A, five Series B, and two Series C. Below are the key takeaways after observing the 19 total examples from transparent companies who shared their learnings with us: Average Seed round: $869,000. After all, clients who havent worked in the past half year wont love having to pay more for representation. As Hollywood belt-tightening continues, what happens to the newly minted managers who defected from the agencies with only a handful of loyal clients and a dream? Julian has created over 400+ articles about a wide range of topics e.g., math, biology, chemistry, history . Its their agency. Another source notes that all the former agents have to do to circumvent the no-dealmaking mandate is to make sure that its the lawyers who pick up the phone to negotiate contracts. Part of Ranges power to propel their clients projects stems from a model which is built on creating multiple joint ventures with various studios and platforms for various projects.
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