Who Do You Need On Your Team?

A couple of weeks ago, we wrote a column about all of the people who take a bite out of your awesome spec sale. Your agent takes 10% so does your manager; the lawyer charges a million dollars/hour or takes 5%, depending on how established you are and how big the deal is, and so on.

Some of you wanted to know if you need all of these people. And what do they do anyway?

AGENTS

These are the people who send out your material and negotiate deals for you. (Note that managers do not legally have the power to negotiate.) The more connected an agent is, the more reads you will get.

Agents (unlike managers) are registered with the state and are only allowed to charge 10%. A good agent is a great thing to have. They can be your one-stop shop for everything.

The downside: most likely, you won’t get one when first breaking in. Generally speaking, you don’t get an agent–an agent gets you. In most cases, an agent will only be interested in you once you already have heat. Or if you’re working with a producer, at some point the producer might hook you up with an agent–it’s that crucial third-party validation that opens the door.

Querying/pitching to agents is often a waste of time, unless it’s someone who’s been newly promoted and is looking to build their list. As well, agents usually rep way more clients than managers, sometimes 60-80 people or more. That means they simply don’t have time to read submissions from emerging writers–they’re focused on working for their existing clients. And if you were one of them, that’s exactly how you’d want it.

One caution: if you see an agent taking video pitches, that may mean they’re trying to make some easy side money. Again, the chances of actually getting signed or even hip-pocketed by a real-level agent off a pitch is slim without heat or independent third-party validation.

MANAGERS

Just like agents, they send out their clients’ material and try to get them assignments. The big difference is that managers aren’t regulated by the state. Anybody can hang out a shingle and call themselves a manager… and charge whatever they want. A manager can be a great asset–but make sure that you target a good one (as opposed to be targeted by a bad one).

A legit manager will have deep connections in the industry (often, they’re former agents). They generally charge 10%, although some charge 15%–especially the ones who feel that “with me, you don’t need an agent” due to their agency pedigree and connex. If somebody who claims to be a manager asks you for money up front: run the other way!

Legally, a manager can’t negotiate a contract for you. That’s why they often partner with agents or lawyers on deals. Sometimes, a manager may also attach themselves as a producer to one of your projects (unlike agents, managers are legally able to produce.) And, yes, depending on the manager, that can be good or bad. The question to ask: what are they bringing to the table? Generally speaking, a manager/producer will be incentivized to work harder to set up your project if they know they are also getting a producer fee down the line.

The good news: it’s often easier to get a manager than it is to get an agent. It’s part of a manager’s job description to seek out and develop new talent. Which is not true of agents.

However, in the olden days, managers would take a lot more time to take a flyer on a writer whose talent is clear, even if the samples aren’t quite there yet. A great manager may take a year or more working with a client to develop a promising writing voice. But due to economics, these days managers don’t necessarily want to spend a huge amount of time honing someone’s craft and polishing their material. What they need from you is something that they can sell–preferably right now.

The best advice to get and keep a manager: make sure your material is ready; have several highly polished pieces (in the same or a similar commercial genre); and be easy to work with.

LAWYERS

An entertainment attorney negotiates deals. They don’t send out material, and they don’t try to get their clients work. What they do is to make sure their client gets the best possible deal–think residuals, bonuses, credits, merchandising, back end, etc.

The cost can be pretty steep. Most well-established entertainment attorneys won’t lift a pen for less than $450/hour (and a $6000 retainer!) and if you are a steadily working client closing studio deals, they will get 5%. In a classic agent/manager/lawyer structure, that means you’re paying 10% to your agent, 10% to your manager, and 5% to your attorney.

When you first start out, you won’t need an entertainment attorney. If you have an agent, they will take care of negotiating the deal. If you have a manager, they will probably partner with an agent. Most importantly, when you first start out, you probably won’t get more than WGA minimum (if you’re lucky). It’s about building credibility and getting your foot in the door.

That said, many excellent entertainment attorneys pride themselves on being a value-add–covering their cost within the deal itself. An agent isn’t necessarily going to fight for every possible cent; they often just want to close the deal. Whereas your attorney isn’t doing their job if they don’t do everything they can to get you that sliding scale box office performance bonus and right of first refusal for sequels and remakes.

And this is where lawyers become crucial. Once you’re established and a hot commodity, you want to make sure that you protect yourself. That franchise you created? It should generate income for you for life. You want a proper credit, a cut of the merchandising, and back end points, no? Darn right you do.

The good news: once you’re at that point, you can afford the entertainment attorney.

The best advice for the here and now: be ready and use your common sense.

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And if a situation comes up and you need our advice as to which way to jump, just email us! Advice is always free here at CI.