What does UTA’s acquisition of UK talent agency Curtis Brown mean and the business of representation on both sides of the pond?

When UTA announced the surprise acquisition of London-based group Curtis Brown last month, it was heralded as an aggressive and strategic move into the UK talent space that pushed the industry to both sides of the tin and take action. US agencies have been running businesses in the UK for many years, but this deal represents the biggest effort and potentially brings UTA ​​closer to Curtis Brown’s top book talents, including Robert Pattinson, Margaret Atwood and John LeCarre.

There are now question marks about the talent exchange, potential structural changes and what it could mean for the UK agent.

An interesting current case study involves British actor Joseph Quinn. After playing Eddie Munson as the spitting metalhead in season four on Netflix Strange thingsQuinn has become one of the most sought-after British emerging talents in the US agency field. He is represented by Curtis Brown and Deadline understands that he and his UK agent, Sam Turnbull, have met with three major US agencies – the fledgling CAA (after the acquisition of ICM), WME and UTA – to discuss the ‘agreement. . A potential signature. It’s an indication that, at least for now, everything is normal for Curtis Brown and UTA.

While there is still no sign that UTA will ask Curtis Brown to ship its major UK clients, many in the wider agency community are wondering if that line will change.

A bastion of Great Britain

Although many US agencies are considering setting up in the UK, this is not always easy to achieve. More recently, WME planned to open a UK office in 2019 under the direction of respected literary agent Rich Cook. Inevitably, not all British agents were thrilled with the prospect. Eventually the arrival of Covid broke the plan and Cook later left the agency to partner with Range Media Partners.

UTA’s deal with Curtis Brown is very different, and with one of the industry’s oldest literary agencies with strong intellectual property ties, UTA hopes to keep up with its US rivals in the vital overseas market.

Could this move be a harbinger of much larger structural changes and further consolidation? And, as many are asking, is this the beginning of the “Americanization” of British agents, with Hollywood agencies absorbing British companies for more long-term cultural weight?

UTA stressed that it will not replace the Curtis Brown model, saying it has a deep respect for the culture of the 123-year-old British agency. There are currently no plans to merge the two businesses and each entity will operate jointly. The company also states that no reduction is planned.

“This acquisition is based on our deep respect for the leadership, team and culture of the Curtis Brown Group, as well as our great respect for all of our partners in the UK and our long history of doing business together,” he said. UTA to Deadline.

The agency says the deal is fundamentally better for its clients, opening up more opportunities on both sides of the Atlantic. Indeed, both companies have embarked on a path of expansion in recent years and we understand that there is no appetite for a major cultural overhaul.

“Of course, our staff initially had questions, but quickly became convinced that this arrangement was based on mutual admiration and deep respect for our long-standing relationships with other partner agencies in the UK and the US,” he said. Curtis, CEO of Brown Group. Johnny Geller told Deadline. “Our team is very excited about the opportunities it offers our clients, as well as the agency’s continued growth potential.”

Within the UK and US agency space, there are divergent views on the sustainability of such a model.

“These are two decent, quality companies,” said the managing director of a major UK agency. “It is difficult to mix the cultures of the two agencies.”

Others are less confident about compatibility: “There is no way in the world for you to buy one that will stay the same in the long run,” said a British agent who knows companies well.

Many sources have suggested that the long-term game could turn the company into an American bridge: “UTA Europe”.

While it’s hard to predict where any business in the industry will be in a few years’ time, a veteran UK broker and investor warned: “UTA has to leave Curtis Brown alone. YMU insisted on changing the Troika’s name, and this was quickly abandoned. They could have written “UTA Company” in lowercase, I guess. “

brown curtis history & What’s next?

Curtis Brown, founded in 1899 and now run by Geller, has more than 240 employees and represents actors such as Robert Pattinson, Stanley Tucci, Dev Patel, The Next Star. a doctor who Nkuti Gatwa, his Sex education With Emma Mackie and Gugu Mbatha-Raw, among others, in major television, film and theater departments. The company’s venerable literary activity represents the heritage of authors such as Atwood (a sewing fairy tale), Winston Churchill, Le Carré, James link By Ian Fleming, Daphne du Maurier, AA Milne, John Steinbeck, Matt Hague and Nigella Lawson.

Widely regarded as one of the most connected agents in London, Geller joined Curtis Brown in 1993 as an assistant and became the agency’s chief executive in 2012. He later became head of the larger Curtis Brown group, which formed after 10 %. A minority stake was sold to BBC Worldwide (now BBC Studios) in 2016. At that point, Curtis Brown became a combined agency, production and management group, and expansion became the name of the game: Curtis Brown. merged with Markham Froggatt and Irwin in 2020. Having acquired Tavistock Wood and Meryl Hoffman Management in 2018 and Ed Victor and DAA Management in 2017, who had already acquired C + W in 2014. also owns McMafia Y coalition Produced by Cuba Pictures.

The company has long considered a sale to expand its business and increase its relevance in the global market. The fact that he had handled international book sales for ICM’s publishing division for more than a decade led many to expect ICM to be the buyer. We understand the option was explored, but interest fell apart when CAA bought ICM for $ 750 million last month. Now ICM’s long-term book arm is part of another major US agency.

“I imagine CAA will solve this problem by hiring their own international team, possibly even from Curtis Brown,” said the head of a major US agency.

We’ve heard suggestions that in addition to signing up with UTA, Curtis Brown may be looking to raise private funds to expand into Europe, as well as the brand and podcasts. Various sources have estimated the purchase at between $ 45 million and $ 55 million, but UTA and Curtis Brown declined to comment.

For UTA, joining a strong UK business puts more oil in the tank. With UK manufacturing booming, having Brits in place who know the land is also a more authentic way for UTA to tap into another creative market.

The deal is the latest in a series of strategic investments for UTA, which bought data and analytics company MediaHound last month, bringing the company’s proprietary software (great for managing data monitoring). Last year, it acquired media consultancy MediaLink for $ 125 million.

“Curtis Brown is a wonderful agency. They have large agents and dimensions, “said a US agent of rival UTA, adding that he had spoken to several agents of the British company who were wondering about the future.

Indeed, questions abounded among the sources we heard from. Startup Facilities FAQ: Do customers want to pay twice with the same company representing Curtis Brown and UTA? Could they seek shorter terms, or will consolidation finally provide UTA / Curtis Brown with a compelling case for competitive advantage? Deadline has learned that, for now, if a client of Curtis Brown signs with UTA, the talent will pay two sets of commissions at market rates.

And how do UK agents feel about sharing customers with UTA? According to a source from a UK agent, “Really paranoid because what is there besides UTA ​​trying to move them?” Curtis Brown and UTA will see it very differently, but our source said, “Many relationships have been severed at the micro level.”

The source added that “excited” rival agents are developing a narrative for potential clients to argue that moving to Curtis Brown means being controlled by the United States and forced into signing with UTA. True or not, it’s a compelling story and UTA is going to have to make Curtis Brown’s agents happy.

“This is the problem in the talent business: the most valuable assets aren’t in the building every day, so you have to make sure your agents stay,” said a UK source, who was previously the CEO of a major company. of London management. . “If I were in UTA I would be careful, especially in the first year. You want to keep Curtis’ guiding spirit.

bigger picture

So what’s the big picture? With so many streamers in the country, some thought UK talent would start choosing an agent who had access to the biggest buyers to run their business.

“Customers are increasingly questioning the concept of having separate representation in the UK and the US,” said a Los Angeles agent. “In particular, with the closer relationship between British and American television, some adjustments seem to be needed.”

A senior UK trader added that this could mean more mergers and acquisitions: “There may be a consolidation of the markets in the medium and long term, which means Americans will emerge and the UK will simply be swallowed. It started with manufacturing companies about 10 or 15 years ago and you’ll start seeing it here. “

One of the sources said the “obvious next step” would be for UTA and CAA to expand further into the European M&A space, vying for greater scale and access to IP across the continent. WME is believed to be carefully considering how it approaches Blighty.

This can include companies such as Casarotto Ramsay & Associates, Independent Talent, and United Agents (although there are a number of reasons why each of these companies can be difficult to acquire). Management Company 42, which produces and manages talent, recently sold a minority stake to Lionsgate, as we revealed in March. Anonymous Content has partnered across Europe, while CAA and Endeavor Content (now sold to CJ ENM) are also investing in European companies.

An affirmed agent said US agencies are “watching closely”, happy to learn that UTA has made its first major move in the UK (at least at this time). The second suggests that this is an excellent opportunity for one or more European companies to raise capital to create a larger European agency.

The same source also said that over-saturation of agency firms could usher in an era where there is more direct conflict between different types of agency firms, be they agency or management.

Look at this space.