Freelance writer Sheila Marikar had an interesting look over the weekend in the New York Times at the new breed of talent agencies being spawned by social media. Here in Manhattan for example, there’s GrapeStory, specializing in Vine stars, and Cycle, which is all about Instagram.
Cycle is a brand new division of Laundry Service. Launched in April, it already represents more than 1,000 Instagram users:
On a recent afternoon at Laundry Service’s New York office, which is decorated with custom wallpaper that shows Victorian-era figures steam-ironing the Facebook logo, founder Jason Stein, 29, and Liz Eswein, 25, the executive director of Cycle, were talking about how Eswein was paid around $50 a promotional post as recently as two years ago. (Eswein, who created the Instagram account newyorkcity while studying media and communications at New York University, now has more than 1.2 million followers on the social network.)
“People still come and think they can get away with that, and it’s like, ‘You’ve got to be kidding,’” Stein said, throwing up his hands. “What are they thinking? It’s literally getting away with robbery.”
Brands that have used Cycle’s clients include Michael Kors and Coach. Read the full piece here.