Celebrity & Sports Agents in the US - Industry Market Research Report

Star-studded: The industry will continue growing in line with prevailing consumer spending

The Celebrity and Sports Agents industry generates revenue through the management of musicians, actors, athletes, writers and a variety of other public figures. Agents' commissions are earned through negotiating employment contracts between clients and employers, with the agent earning a percentage of the agreed deal. Industry success is driven by the strength of downstream industries, which relies on aggregate consumer spending. Over the past five years, consumers benefited from steadily rising disposable income, which generated greater revenue for downstream markets, increasing the frequency of contract deals. Nonetheless, the onset of the COVID-19 pandemic led industry revenue to sharply decline in 2020. Revenue growth quickly recovered in 2021, nearly exceeding the pre-pandemic total, as consumers fulfilled pent-up demand for in-person entertainment events. Concurrently, lessening economic uncertainty encouraged corporations to resume advertisement spending. This growth trajectory is anticipated to continue, with industry revenue growing at a CAGR of 2.7% to $14.5 billion over the past five years, including anticipated growth of 3.7% in 2023. This industry includes agents and managers who represent or manage creative and performing artists, sports figures, entertainers and public figures. Agents typically focus on finding work for a client and engage in contract negotiation and management for a client, for which they are entitled to a predetermined commission. Managers have a broader role that includes contract negotiation, finding sponsorships and endorsements and other services such as career advice and financial planning. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.