Eli5: What is a Talent Management Company?

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I saw Mr Beast is splitting with his talent management company. What does that even mean? What did they do for him? Thought he had billions of dollars making his own videos with his own team.

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They provide a buffer between the artist and his lawyers, accountants, agents, publicist, tour managers  etc so the artist can concentrate on his art. In other words they manage the business aspects of the artist much like companies have managers.

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