After you create a Studio account, you can add models by creating their accounts. Be sure to use their details when creating these accounts.
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You will have permanent access to any model's account that is under your Studio, so you can make any change/settings to it.
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The models who are under your Studio will have the same features as a normal account, BUT the money they earn will be automatically forwarded to your Studio account.
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This means that you, the Studio, will get all the money of your models. You will then have to pay your Models based on the contract/deal you agreed upon.