$46.8B Record U.S. agency revenue in 2015
Ryan Seacrest has added another agency to his growing media and marketing portfolio.
Civic Entertainment Group, a marketing agency owned by Seacrest Global Group, has acquired Culture Shop, a marketing, social media and public relations agency, the companies planned to announce on Thursday.
The move is another step in Mr. Seacrest's plan to build a diversified media company that connects content, brands and consumers. Seacrest Global Group is his investment arm.
"The acquisition of Culture Shop further diversifies CEG's service offering in media and entertainment, helping leading brands create strong emotional connections with consumers," Mr. Seacrest and Rich Bressler, principles of Seacrest Global Group, said in a joint statement.
The companies declined to disclose financial terms of the deal.
Culture Shop has worked on campaigns for brands like Verizon, Farmers Insurance and USA Network, among others. It will become a specialty practice within Civic Entertainment, offering research and analysis on trends in TV, sports, music, gaming, film, advertising, technology, community and philanthropy.
Culture Shop founder Nate Schreiber will become a co-CEO at Civic Entertainment, alongside co-founders and existing co-CEOs Stuart Ruderfer and David Cohn. Mr. Schreiber founded Culture Shop in 2009 following stints at PMK/HBH, an entertainment PR and marketing firm part of the Interpublic Group of Cos., and Momentum Worldwide/McCann Worldgroup.
When Seacrest Global bought Civic Entertainment in 2012, Mr. Seacrest joined the Civic board and promised to provide not only funding, but content and access to more platforms. Since then the company has signed clients such as NBC Sports, where Mr. Seacrest has a relationship as part of a broad deal with NBC Universal, to develop and execute experiential marketing campaigns around the NHL Stanley Cup and English Premiere League. Civic also brought a mobile Shake Shack to SWXW this year to promote NBC's new late-night lineup.
Other recent clients have included Airbnb and HBO, for which Civic produced a fan event at Barclays Center promoting the new season of "Game of Thrones." Next week, it will produce the second annual Fox FanFront for the Fox Network Upfront outside The Beacon Theater in New York City.