As we continue to grow and develop a business in an ever-changing region and maturing industry, there has been a lot of discussion over the last few months about the structure of the company we wish to build, our values, who we are, what we do and most importantly why do we do it.
This conversation was robust, frank and inclusive as we reached out to the wider entertainment community and asked performance artists for their feedback on the issues and challenges which effect them the most whilst being a creative in a highly competitive, unregulated and seasonal market such as the Middle East.
The basis of these discussions have allowed us to truly examine how we wish to conduct business in the years ahead, how we wish to authentically support creative & performance artists based in the region and importantly value the creative process.
The feedback was extensive, with a common theme consistent across the majority of replies. A lack of transparency and trust is prevalent within our industry as well as a lack of value for the creative process and the artists themselves.
In order to address these common challenges, as a business we have decided to relook at the traditional business model of how talent agencies operate. In a world where artists and creative are becoming easily accessible commodities, the existing business model is now flawed and out dated.
As of the 1st October, we have decided that we will no longer be charging commission fees on any artists which we manage, book or represent for performances across the world.
In deciding to amend this business model we aspire to provide greater transparency and openness across the industry, between artists, agency and ultimately our end clients. Traditionally there have been many agencies or intermediary companies that have excessively profited from high commissions taken from artists and excessive fees charged to clients. Our new structure provides for an open dialogue where this is no longer possible.
In adapting our fee structures we also have the ability to value the creativity, experience, knowledge and professionalism companies such as ours demonstrate as we continue in our aspirations to drive the industry further.
This creativity, experience, knowledge and professionalism does have a financial value and creatives need to be adequately compensated for their time, resources and contributions to any project whether pitch or live delivery.
As a company we are now implementing a fair pitch fee and creative development fee processes which are aligned to our fully transparent business modeling.