Verve, the literary and talent agency, has joined other Hollywood companies in implementing cost-cutting measures, as it seems that this year might bring economic restraint in certain areas within the entertainment industry.
According to reports from The Hollywood Reporter, Verve is making temporary adjustments to the salaries of agents and employees whose earnings surpass a specific level. Furthermore, the agency has opted to reduce overtime costs for assistants, who typically work during the hours of 9 a.m. to 6 p.m. by limiting their overtime expenses.
The new cost-saving actions in the entertainment industry are manifesting with a fresh surge, following the studios’ decision to scale back on spending for feature films and TV series. Specifically, there’s been a significant drop in episode numbers on shows currently in production, as traditional large-scale orders have been replaced by shorter seasons more common in the streaming era.
The production of television episodes decreased significantly, dropping from approximately 13,300 episodes in 2023 to around 11,069 episodes last year, representing a nearly 17% decrease, according to data from Luminate. The Writers Guild of America reported a 40% decrease in TV writer jobs between the years 2023 and 2024 as stated in their April report on their own members.
Established in 2010 by a group of three agents who departed WME, Verve aimed for growth amidst a turbulent five-year period within the industry. In June 2020, during the pandemic, it broadened its services from literary clients to talent representation. Later that year, it opened an office on the East coast. Currently, Verve boasts over a hundred employees.
Two of the initial founders, Bryan Besser and Adam Levine, remain part of the company. The third founder, Bill Weinstein, has moved on to Paradigm following his departure from Verve and a lawsuit against the agency in 2024. This lawsuit was filed over his dismissal and allegations that his former partners intended to sell the company without including Weinstein or sharing the sale proceeds with him.
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Two of the original founders, Bryan Besser and Adam Levine, are still employed at the company. The third founder, Bill Weinstein, is now working at Paradigm after leaving Verve and suing the agency in 2024 due to his dismissal. He claimed that his former partners were planning to sell the company without consulting or compensating him for the sale.
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Among the initial trio of co-founders, Bryan Besser and Adam Levine are still associated with the company. The third founder, Bill Weinstein, has since left for Paradigm following a dispute with Verve in 2024. This disagreement led to him suing the agency over his dismissal and accusations that his former partners were secretly planning to sell the company without involving or rewarding him.
Unlike larger agencies such as CAA, WME, and UTA, which boast extensive client rosters spanning various industries like sports, music tours, comedy, and advisory services, smaller representation firms might not enjoy the same level of protection from certain stresses that arise due to studios reducing their investments in film and TV productions.
Over the past month, Verve has been excitedly announcing the addition of January Jones from Mad Men, along with writing-directing duo Deborah Kaplan and Harry Elfont, who recently sold Paramount their script titled Guys with No Friends. Additionally, they have been consistently making deals for their clients, such as Joe Ballarini working on Ripped at 20th Century, alongside Dwayne Johnson, and Ben Queen and Jason Shuman, whose Drift was bought by Skydance for development into a feature film adaptation.
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2025-06-25 02:24