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In this video, the host welcomes viewers and encourages them to subscribe, especially aspiring models and actors. He shares weekly tips about the industry and introduces the topic of the video: the four main types of modeling contracts. The first contract discussed is the Mother Agency contract. He explains that a Mother Agency acts as the first agent for a model, representing them and helping to guide their careers. An example provided is "Few Models" in Lagos, Nigeria, which serves as a Mother Agency. The video aims to clarify this and the other types of modeling contracts.