IMPROVING THE BUSINESS MODEL OF TALENT AGENCY INDUSTRY: A CASE OF MUEZZA TALENT MANAGEMENT

• Main Author: Roynaldo, Boby
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/63837
• Institution: Institut Teknologi Bandung

Modeling agencies all across the world have a low level of market share concentration, accounting for less than 20% of total industry income (IBISWorld, 2020). While Muezza Talent Management as the modeling agency in Indonesia had a considerable decline in overall sales income after just one year of operation since 2021. Providing young and fresh models with special interests does not grow attractively for the customers. Muezza’s internal condition reveals a low attractiveness in value offers, despite the business’s great authenticity. As a result of the present value offers in the talent agency competition, Muezza is still lagging behind the other agencies. Various components in advertising and promotion assistance are demanded by Muezza's past customers, thus according to interviews. A qualitative technique was used to get these facts, which comprised a structured interview, actual observation, and a literature review. The analysis of this research shows that Lifestyle SMEs require assistance in advertising and promotion services, instead of only modeling services. Through the business model innovation process, there are three possible prototypes for Muezza Talent Management, beginning with the Creative Agency, Modeling Services Platform, and KOL Agency (Key Opinion Leader). It turns out the integrated prototype between the Creative Agency and the KOL Agency is proved to be the best business model for Muezza, based on market demand for both value offerings. Eventually, the author recommends constructing a Creative Agency business model with one-stop advertising, promotion, and micro-influencer services in developing Muezza Talent Management. Main resource of the innovat ion is agency’s professional. Thus, social community playing a main role as the key partner of the innovation. Angel investors, banks, the government, and personal funds are all expected to invest in these creative initiatives. In supporting such new resources, a new professional’s recruitment will be required soon