Hollywood, Creator Agencies Battle Madison Avenue For Brand Budgets
CAA, WME and Reign Maker Group are building creator businesses and new holding companies to win brand budgets as WPP and Omnicom consolidate. What marketers should know. Hollywood and the creator economy are moving in opposite direction, building their own holding companies and chasing the same brand budgets as Madison Avenue's holding companies. WPP CEO Cindy Rose stated that WPP is no longer a holding company and Omnicom announced it would retire DDB, FCB, and MullenLowe after acquiring IPG. The biggest entertainment and talent companies are already investing in this strategy. CAA and TPG-backed Integrated Media Company launched Compound Creative Holdings, a $250 million company that buys stakes in creator-built businesses and helps run them. Live Nation launched Creator Nation to buy creator-management firms. WME launched Creator Labs, invested in video firm Astra Media and expanded its Creator Sales team, while UTA said its creator division has tripled revenue in five years. The new players are betting that relationships with creators and their audiences give them access to brand budgets.
Publicado : hace 22 horas por Jamie Gutfreund, Contributor en Entertainment Business Tech
From left: Brad Black, creative business partner, government and advocacy, at Google; Shannon Goldberg-Cruz, head of entertainment marketing at ALSAC/St. Jude Children's Research Hospital; and Gabe Go... [8642 symbols]
Temas: Celebrities
