MIAMI: Film production company Dolphin Entertainment has acquired lifestyle and hospitality PR agency The Door.
Dolphin, a publicly traded company, paid an aggregate $11 million for The Door, which has offices in New York, Los Angeles, and Chicago and clients including Virgin Hotels, Rachael Ray, Shake Shack, and F.A.O. Schwarz.
The Door’s 2017 revenue was $5.5 million, and $1.6 million in the first quarter of this year, according to a statement from Dolphin.
The firm will keep its name and offices. President Najarian O'Neill and CEO Charlie Dougiello will continue to serve in their roles, the film production company said in a statement.
Last year, Dolphin acquired entertainment talent and PR firm 42West, which has offices in Los Angeles and New York. Dolphin CEO Bill O’Dowd said in a statement announcing the deal that cross-selling services between clients of 42West and The Door will be one of the first benefits of the deal.
"So many of hotel group clients today, whether it’s in the RFP process or [from] existing clients, are specifically inquiring about access into the entertainment world," said O’Dowd. "And on the consumer product side that’s been true for a while. Brands are trying to create a voice and sometimes the easiest way to create that voice is to partner with people that already have a voice in pop culture."
O’Dowd said Dolphin’s acquisitions of The Door and 42West are just the first steps in his company’s strategy.
"We want to buy other companies and really want to expand the group to be a leader in entertainment marketing broadly defined," he said. "When it comes to entertainment, if we had a social media company, a data analysis, and content creation all under one roof, that’s a heck of a group. That’s the idea honestly and we're excited."
Editor’s note: This story was updated on July 13 with comment from O’Dowd.