WME’s Marc Geiger, the agency's top music executive, shoots down rumor that he's headed to Spotify.
to help get the company through the coronavirus-driven revenue crisis at the same time that it launches a broad cost-cutting initiative. Endeavor has been known to be looking for financial alternatives since last fall when the company — the parent of UFC, WME, IMG and other entities — was forced to table its planned IPO.
The COVID-19 lockdowns brought the curtain down on sports, concerts, festivals and other live event businesses that are central to Endeavor’s businesses. The shutdown of music touring and film and TV production promises to be a hardship for WME and IMG.Endeavor is expected to begin layoffs company wide
that will amount to 20% of its roughly 7,500 staffers. At the WME talent agency alone, that is expected to affect at least 300 of its 1,500 employees. Impact to the music department has so far been muted as, according to sources, a handful of top agents have joined together in a unified front.. The company has been on an acquisition spree during the past decade, bankrolled by debt and capital from investors including private equity giant Silver Lake.
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