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Wednesday, April 17, 2024
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Ad agency launches entertainment division as a way to own more intellectual property

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Hollywood expertise

Agencies aren’t the only ones building entertainment units. Earlier this year, AB InBev said it would launch an entertainment division to produce original shows, films and podcasts.World’s largest brewer enlists help from Superconnector Studios, powered by observatory Founder Jae Goodman and John Kaplan, co-owner of production company Alldayeveryday, helped create the unit. Goodman notably helped create Nike’s entertainment arm, Waffle Iron Entertainment.

The goal of Superconnector Studios is to connect brands with agencies and production houses to develop content in which Superconnector will have a stake. Current clients include Sony Music Group, Chipotle, TIAA, and Major League Baseball.

“All marketers realize, especially when it comes to brand dollars, they’ve been indirectly paying for entertainment,” Goodman said. “They buy the ad, the ad goes back to the creator, and the cycle continues. They realize that they can actually not only make money, but put more creative money into the entertainment space.”

The challenge, according to Goodman, is proving that agencies can consistently deliver projects, which is why the store taps Hollywood expertise.

Dagger Originals is led by Lance Krall, Dagger Vice President and Group Creative Director, and Tara Ochs, Head of Development. Krall and Ochs previously founded Picture It Productions in 2016, working with producers Jerry Bruckheimer, Laurence Fishburne and Drew Barrymore, as well as CBS Studios. Krall has also previously written for television shows such as “It’s Always Sunny in Philadelphia” and “The Last Man Standing.”

ryan reynolds factor

A big threat to ad agencies entering the entertainment space is the rise of celebrity-owned ad agencies.While Ryan Reynolds’ success with “Maximum Effort” may be the most famous example, actors, athletes and entertainers such as Terry CrewsIssa Rae and Pharrell Williams set up their own agency. Shaquille O’NealSpike Lee, Tony Hawk, Reese Witherspoon, Tom Brady and Jimmy Kimmel have also invested in their own entities.

“I definitely think they’re a threat to institutions,” Goodman said. “Ryan Reynolds has made some great old-fashioned commercials, some of the most memorable of the past few years. They’ve also easily turned to making branded entertainment.”

read more: Best Effort Fubo Channel Live

While investing in entertainment can provide agencies with new revenue streams, it doesn’t turn around as quickly as advertising; it takes at least a year to produce a show, Bradfield said.

Ultimately, the focus on entertainment will provide the agency with more value, said Ross, who has noticed client interest in known originals in a recent pitch aimed at highlighting the agency’s other capabilities in data and strategy.

“It’s a revenue driver,” Ross said. “You might not be able to close the sale, which might not be a big thing, but if it makes that customer do all the other stuff, it’s like a halo. I think it adds something that makes people want to commit.”

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