The Importance of Creative Artists Agency in the Entertainment Industry

CAA’s Adaptability to Changing Technologies

CAA in the recent years represents some of the most innovative and successful professionals who usually work in television, music, film, video games, digital content, and theatre (McClinton, 2018). This is clear indication that CAA is ready to remain competitive in the world because it is always adaptive to the changing technologies because it understands that in order for a company to remain for a long and more competitive manner in the market it should be ready to embrace all types of technological advancement occurring in the world.

Increasing Competition in the Sports and Entertainment Industry

The sports and entertainment agency is in the recent years is becoming more and more competitive in the world market. This due to the fact that more Agency companies are being formed from time to time because many investors have come to realize the importance of the business in the whole world. Creative Artists Agency has for many years remained more competitive despite the stiff competition posed by other entertainment and sports companies. In addition, some of its agents are being poached by its competitors. This means that CAA should remain steadfast in its operations in order to remain more competitive in the ever competitive world market.

Expanding Reach and Diversification

CAA should always be trying to reach out more and more sportsmen and sportswomen because we have more upcoming athletes across the world (McClinton, 2018). In addition, more companies are trying to invest in sports because these companies have discovered that sports are one of the great investments in the world because in sports what is mostly required is the individual talent .This means that CAA which is leading in the sport industry and which represents more than 1000 great athletes in sports like basketball, football, hockey, tennis as well as the golf should work hard to capture and mentor other potential athletes who in future will be very useful when it comes to the growth of CAA. This means that CAA should continue diversifying its operations because the entertainment industry can no longer be trusted very much because the entertainment industry is bound to change anytime as more companies which are willing to be involved in entertainment industry are coming up in day and night.

Tapping into New Markets and Partnerships

One of the ways through which CAA can diversify its operations is through trying to reach out some of the world markets like Africa where in the past years it has been absent. CAA can tap this market through, corporate marketing initiatives, investing in sports properties in terms of sponsorship and investing in sports facilities and corporate marketing initiatives. In order for the CAA to diversify its operations, it should partner with other investors. One of the importance of partnering with other companies is that the capital base of CAA will be largely increased. CAA has a great potential of partnering with other companies because it has already done so before. For example, it has recently partnered with EBG which is a company that operates a large network in the US in terms of B2B and consumer businesses as well as distribution network across the US (McClinton, 2018). The decision made by CAA to partner with EBG is one of the great achievements which has been made by Canthus is due to the fact EBG will provide a great investment because it has a wide market range as a well huge capital base. In addition, the company should try to find other partners from different countries and continents in order to tap the world market completely.

References

McClinton, B. (2018). Creative Artists Agency Makes Investment in Entertainment Benefits           Group. Businesswire.com. Retrieved 10 February 2018,             fromhttps://www.businesswire.com/news/home/20180104006216/en/Creative-Artists-            Agency-Investment-Entertainment-Benefits-Group

Rogers, T. (2017). In Newswriting, What is the Inverted Pyramid Format?. ThoughtCo.             Retrieved 10 February 2018, from https://www.thoughtco.com/definition-of-invented-         pyramid-2073770