- Digital marketing and technology firm PMG has acquired Camelot Strategic Marketing & Media, one in all the biggest independent agency buyers of video, over-the-top (OTT) and connected TV (CTV), based on an announcement. Financial terms weren’t disclosed.
- The deal provides PMG with “advanced expertise” in CTV, OTT, traditional media and measurement. Dallas-based Camelot, in turn, will profit from PMG’s knowledge in search, social, programmatic and other technology areas.
- The integration is effective immediately, though client needs will drive the timing of certain initiatives. PMG founder and CEO George Popstefanov will lead the combined company, which can employ 700 people worldwide.
PMG snapping up Camelot speaks to the growing value agencies are placing on emergent video channels like CTV, which saw a jump in popularity through the pandemic and has grow to be a much bigger focus for traditional media corporations. CTV spending is forecast by WARC to grow 12.1% in 2024 to succeed in a complete of $33 billion.
Working for a roster of clients that features Apple, Nike, Best Western Hotels & Resorts, Gap and Shake Shack, PMG felt a must offer a wider range of integrated marketing services, based on founder and CEO George Popstefanov. Camelot’s appeal was based on its “unrivaled video practice” and “commitment to innovation and furthering the video industry,” which was well-aligned with PMG’s “technological advancements, automation and innovation,” Popstefanov said in a press statement attached to the deal’s announcement.
The move comes as Camelot has increased its capabilities and knowledge within the CTV space. The agency piloted a product from Dish Network that enabled programmatic buying of linear and streaming inventory and was a launch partner for Magnite’s direct-buy video platform, ClearLine.
Camelot has also stepped up its game on the measurement front. The agency recently entered into a multiyear partnership with iSpot.television, giving clients access to the media measurement company’s products, including unified cross-platform and verified streaming capabilities. Additionally, Camelot was Roku’s first certified partner, using the latter’s OneView measurement and technology platform when it launched in October 2022.
PMG, which can be based in Texas, was one in all three independent agencies to contract with Reddit to realize access to incentives, enhanced measurement, insights and early access to recent ad product tests normally reserved for big holding corporations.
Read the complete article here
