Acquired CAA (with Michael Ovitz)
77 snips
Dec 21, 2021 
Michael Ovitz, the mastermind behind Creative Artists Agency, transformed Hollywood and shaped talent representation practices. He dives into the genesis of iconic films like Jurassic Park and discusses the evolution of the entertainment industry, revealing the dynamic between talent and studios. Ovitz reflects on CAA's innovative strategies, including their unique teamwork approach and international relationships that changed the landscape. The conversation also touches on emerging technologies like AI and cybersecurity, showcasing how creativity and adaptability drive success.
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Jurassic Park Deal
- Michael Ovitz secured Steven Spielberg to direct Jurassic Park before the book was even published, by leveraging personal relationships and creating a sense of urgency.
- This unorthodox approach, including calling Spielberg's wife for permission to read overnight, resulted in a billion-dollar franchise.
Old Hollywood vs. Sports League
- The old Hollywood studio system resembled a sports league, with studios as teams and talent as players under contract.
- Lou Wasserman's strategy of securing back-end participation for Jimmy Stewart in Winchester 73 was a pivotal moment, changing the industry's financial structure.
Packaging for Leverage
- Package all creative elements (script, director, actors) when negotiating deals.
- This strategy gives leverage against studios, allowing talent to control their destiny and command better terms.
