Entertainment Management is a relatively new field in Business Management and Administration. As society finds more time and money to spend on leisure activities, so the need for business professionals in the Entertainment Industry has grown. All career paths in Entertainment Management require a business degree that covers business law, accounting, information systems, and negotiations. Entertainment managers must also have the understanding that the Industry they work for is a socially based, relationship driven entity. So what kinds of jobs are there in the world of Entertainment Management?
Talent agents negotiate performance contracts between talent and the corporate entity seeking to hire them. The “Talent” may be musicians, actors, sports professionals or entertainers. In addition to business acumen, they musts possess considerable social and conflict resolution skills. Often the conflict comes from terms set forth in a contract and whether all parties agree to them, which is a must if the contact is to be legally binding. According to the Bureau of Labor Statistics, Agents earn around $108,000 annually.
Advertising and Promotions Manager
Advertising and promotions managers create, organize and implement advertising campaigns for products created for the Entertainment Industry; meaning films, TV shows, and music and sporting events. Their main objective is the solidifying and promoting a company’s brand or image. This particular Entertainment Management field requires leadership and organizational skills. Advertising and promotions managers make between $66 and $100,000 dollars, depending on years of experience.
These are the guys dishing the Entertainment Industry news on programs like Entertainment Tonight, TMZ and for magazines like The Hollywood Reporter. The pedigree of an Industry Tell-All is a unique blend of journalist, business guru and socialite. Here’s another job that’s relationship driven, as you will be hobnobbing with the Industry elites and up-and-comings. Entertainment correspondents earn an average of $35, 000 a year.
Entertainment Producers work in music, film and television; recruiting talent, negotiating deals with studios, networks and record labels and delivering on their promises. Producers must understand entertainment, copyright and intellectual property laws; have exemplary leadership skills, and considerable business knowledge. Producers often become as well recognized as the talent they work with. Bls.gov lists the median annual wage of producers as $68,440, but many producers make millions of dollars. Although you shouldn’t expect to see that kind of income until you are a very seasoned professional with Platinum and Oscar decorated track record.