Stagwell Group this week acquired CAA Marketing, the branded content arm of the entertainment group CAA, creating a new marketing entity.
The new outfit, which does not yet have a name, will be headed up by Jae Goodman, former co-head and chief creative officer of CAA Marketing, as CEO.
Goodman, who is also chair of jury for the 2018 Brand Film Festival, spoke with PRWeek about the future of CAA Marketing and Stagwell and branded content.
What spurred the acquisition?
Our clients have been asking us to give them a broader range of services alongside the entertainment consulting, partnerships, content, and experiences we’ve been providing for a long time. We needed a partner that had a much greater array of services, including data and analytics, insights, and digital publishing.
Stagwell is born out of data and analytics, has maybe the best insights company in America - if not the world - in Harris, the best digital publishing company in Code and Theory, plus best in class entertainment reporting in NRG.
It is the right offering going forward to continue to service our clients.
Give us some clues about what comes next.
We’re not quite ready to announce the name yet. It’s safe to say it will reflect our take on the marketplace, and we won't be calling it "entertainment consulting and content-centric integrated campaign." We’re focused on making sure we have the right offering and all our colleagues and clients transition smoothly.
How does this acquisition fit into other PR-content studio partnerships popping up recently?
It’s indicative of the marketplace. That's exactly why we made our move. There’s no question that interruptive advertising is only going in one direction and it’s not up. Consumers are telling us in many different ways they don't want to be interrupted; they’re cutting the cord, they’ve got ad blockers on their phones, they look away during those six-second ads everybody's so obsessed with.
We’ve been pleasantly surprised by the market response and both industries we’ve bridged, entertainment and marketing. Both are actively trying to figure out their relationship with each other. Brand dollars have supported the TV system for a long time in much the same way and we aim to reimagine that relationship. We’re finding both industries are immediately turning to us with enthusiasm for what that reimagining looks like practically.
What’s next for branded content?
We as an industry have to create content that attracts rather than distracts, while simultaneously driving brand and business results. That's something I say over and over again and because we firmly believe it's where the marketplace is going.
We have to give people content and experiences they want to engage with and believe those people will reward brands and business that give them that, whether it’s a PR firm, a media agency, an advertising agency, or CAA Marketing in partnership with Stagwell.
We’re fully designed to create integrated campaigns with all the hardworking elements we know drive business results around the content and experiences that attract consumers.