LOS ANGELES: On the Scene Productions (OTSP), a broadcast PR company, has received a financial investment from Socius Capital, Seacoast Capital, and 15 OTSP senior managers. The new company will be called OTSP Holdings.
Jeffrey Lamb, of Socius, will relocate to Los Angeles and serve as CEO. OTSP co-founders Sally Jewett and Stacie Hunt will remain president and EVP respectively. Dave Woodward, also of Socius, will join the OTSP Board of Directors.
Lamb noted that one of the main reasons for his investment, which is his company's first in the PR industry, is because of the strength of the broadcast PR industry right now.
"The industry …is so well positioned for growth," he added. "We see the shifting of ad dollars to other forms of communication as an enormous potential. We like to invest in things that are moving downstream as opposed to having to swim upstream."
Jewett added that this is the first time in OTSP's 22-year history that it has sought outside investment.
"We saw this as a unique period of time to take advantage of what we believe is going to be an explosion of activity in our industry," she said. "We knew we needed to do a lot more in the way of research and development, to look at new avenues for our clients, new products, and services."
Some of those services include reformatting video for cell phones, video billboards, and retail outlets.