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WPP has sold a majority stake in Two Circles data analytics and sports marketing unit to Bruin Sports Capital, media technology, live events, marketing and brand strategy company in White Plains, NY.
Founded in 2011, Two Circles handles ticketing, subscriptions, sponsorships, premiums and stadium development.
It has 180 staffers in London, Bern, New York and Los Angeles that serve clients such as the NFL, Wimbledon, Premier League and Formula 1.
The sports business is moving from a B2B model to a direct-to-consumer one, where growth is becoming centered around direct relationships between sports and fans, according to Two Circles founder Gareth Balch.
He views Bruin’s relationships and experience in the global sports arena as “the perfect platform to enter the next phase of commercial growth.”
Bruin employs 1,700 people in 37 offices worldwide.
WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets.
Why financial planning always plays a crucial role in every PR firm’s success.
Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
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