The Year In Agencies: Acquisitions, Mergers & More

Following Creative Artists Agency’s big power move of 2022, which saw the agency finalizing its acquisition of ICM Partners, a deal valued at $750 million – CAA made waves across the music business once again when the news broke in September that French billionaire François-Henri Pinault and his family investment firm, Artémis, had officially acquired a majority stake in Creative Artists Agency and replaced TPG as the primary holding company.

The Artémis deal, widely reported in the $7 billion range, is evidence of CAA’s growing value. By comparison, Texas-based private equity firm TPG initially invested in CAA in 2010 and then took on a majority stake in the agency in 2014 (at 53%) with a deal valued at $1.1 billion, according to Forbes.

As previously reported, Bryan Lourd, Kevin Huvane and Richard Lovett will continue to lead CAA as co-chairmen. The deal was completed earlier this year, with Lourd taking over as chief executive officer and Jim Burtson, who led CAA in the negotiations, staying onboard as president.

Looking at the top 10 artists on Pollstar’s Year End Worldwide Tours chart, CAA is responsible for booking four of the acts: Beyoncé (grossing $579.8 million), Bruce Springsteen & The E Street Band ($402.2 million) along with BPB Consulting, Harry Styles ($290.5 million) and The Weeknd (nearly $221 million).

CAA’s music roster also includes Bob Dylan, Eagles, Red Hot Chili Peppers, blink-182, John Mayer, Grupo Firme, Iron Maiden, Lionel Richie and Carrie Underwood among many others. Artémis’ assets include luxury brands such as Gucci, Saint Laurent and Balenciaga as well as Christie’s Auction House.

In other 2023 agency news, Artist Group International (AGI) and Agency for the Performing Arts (APA), announced in June that the independent agencies were merging and operating as Independent Artist Group (IAG).

Dennis Arfa, founder and CEO of AGI, was named Chairman of IAG’s Music Division, Jim Osborne, President of APA, was named CEO of IAG and Marsha Vlasic, AGI’s President, was named Vice-Chair of IAG’s Music Division. Jarred Arfa, former Chief Operating Officer at AGI, was named Executive Vice President and Head of Global Music at IAG.

AGI’s music roster included a number of top touring artists such as Billy Joel, Metallica, Def Leppard, Rod Stewart, Mötley Crüe, Linkin Park, Jane’s Addiction, Norah Jones, Neil Young, The Strokes, The Smashing Pumpkins, Ghost, Elvis Costello, Cage The Elephant and Five Finger Death Punch.

APA’s clients included 50 Cent, Mary J. Blige, Ms. Lauryn Hill, 2 Chainz, NE-YO, Robert Glasper, Kamasi Washington, D’Angelo, Key Glock, Cypress Hill and Jon Bellion, along with a number of comedians including Martin Lawrence, Mike Epps, Loni Love, Felipe Esparza, Ms. Pat and Ronny Chieng.

Over at WME, the agency acquired True Grit Talent Agency, an Austin, Texas-based company with a roster that includes Cody Jinks, Charles Wesley Godwin, Whitey Morgan, Ward Davis, and Dexter and The Moonrocks. True Grit agents Mike Krug, Carrie Creasey and Shelby Vanek joined WME and will continue to work out of Austin, Texas.

WME also acquired Nashville-based music agency Red 11 Music. The agency’s founder and CEO, Jon Folks, joined WME as Partner, with the rest of the company’s agents, staff and clients now operating under WME.

Wasserman continued to expand in 2023, including finalizing its acquisition of Brillstein Entertainment Partners in September. A few months earlier, Wasserman announced the launch of a speaking department, helmed by Julie Leventhal and that it was set to buy UK-based CSM Sport & Entertainment.

Other news of note include UTA (whose clients that ranked on the 2023 Year End Chart include Karol G, Guns N’ Roses, Jonas Brothers, Romeo Santos, Muse and Post Malone) opening its new London office in June and Universal Attractions Agency announcing the development of a Latin Division within the company that will be overseen by Nick Szatmari as well as the hiring of Alvaro Granados as its first-ever Lain exclusive agent.

In late October news broke that Endeavor Group Holdings — owner of WME, IMG and the holder of WWE and UFC operator TKO Group, among other things — may go private. Stay tuned.