Social Media Managers are in great demand these days. The Social Media Influencer and Content Creator industry is projected to hit over $300B in the coming years.
Social media managers help brands find influencers who can fit their campaign and brand voice. Social media managers also manage influencers’ social accounts to help build an influencers power in the social media marketplace. They advise influencers and often brands on the direction a campaign should take. Much like their more traditional counterparts in Hollywood, a good manager, can truly be a make or break for someone’s career.
So, what kind of contracts does a manager need? There are two core social media management contracts. 1. The Social Media Management Contract and 2. the Influencer Agreement.
The first, the Social Media Management Contract is between the manager and the influencer they represent. In its most basic, this sets out the duties and obligations of each party, the length of term of the representation and the compensation that the manager will receive. It also sets out the terms of the compensation the manager won’t receive. Often, influencers have brand deals before they hire a manager that continue to generate income for an influencer after they have hired the manager. Whether or not the manager receives income from this depends on several factors. Generally, it depends on whether or not the manager will perform any work – is there still something to manage on the deal? The other major factor is how big is the brand deal and how much exclusivity in a category has been taken by the deal. For example, if a beauty influencer landed an exclusive deal with a makeup company that has removed the managers ability to bring other brand deals in the category, the manager will generally want a piece of the deal as their other prospects in the category are limited.
The other major contract for Influencers is the Influencer Agreement. This is the agreement between the brand and the influencer that states what and how the influencer will ‘endorse’ the Brand’s products, services or simply the overall brand. It sets out the rights, obligations of the parties, what has to be done, who creates the campaign and how it is presented to the public. Of course, it also sets out the terms and conditions for the compensation.
Even though we have already seen some incredible deals for influencers over the past few years, this industry is clearly still in its infancy. There is quite a bit of maturing to do over the next few years. A shakeout of platforms, pricing for influencers and a host of other factors will settle in to a new set of norms as things move forward.
The need for the contracts will remain constant. Whether you are a micro-influencer or leading millions of followers it is important to have the right contracts in place. At Creators’ Legal we provide industry standard agreements drafted by true content and media lawyers to help influencers and managers better document their deals.
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