Why Paradigm Is Unlikely to Survive as a Standalone Agency Post-Pandemic

Umberto Gonzalez and Beatrice Verhoeven
·1-min read

The collapse of Paradigm after a brutal pandemic year means that the agency is unlikely to survive on its own once it completes the sale of its music assets to sports and media mogul Casey Wasserman announced earlier this week, industry insiders told TheWrap. “The end is near for Paradigm as a standalone agency,” one top agent said. “Paradigm won’t exist on its own after the sale of its music division.” The sentiment was widespread among the talent agencies in Hollywood and their business colleagues. Paradigm, struggling after a year without live concerts that generated the bulk of its revenues from its deep roster of music clients, had reached the end of the line for its music business, which left precious little to continue as a going operation. After announcing the sale of Paradigm’s music assets to Wasserman, the agency said it is in “active discussions” for its talent and literary business, without explaining precisely what that means. Many observers presume this means a sale of those remaining assets, with APA identified as a likely potential partner because it is focused on literary talent and could benefit from bulking up. “A merger between what’s left of Paradigm and APA is...

Read original story Why Paradigm Is Unlikely to Survive as a Standalone Agency Post-Pandemic At TheWrap