Private equity firm to expand entertainment research company
Financial details weren’t disclosed. But the agreement with the Los Angeles-based private equity firm will provide fresh capital for MarketCast to expand its geographic and business reach. It currently has a presence in Los Angeles, New York, Boston and London.
“MarketCast has enjoyed more than a decade of nearly uninterrupted growth, and we look forward to continuing this trajectory with our new partners,” said MarketCast CEO Henry Shapiro. “There are many opportunities in front of us that we are now in a position to pursue, from continuing our international expansion to launching new products for our core clients to migrating into related entertainment sectors, whether through organic growth, acquisition or partnerships.”
MarketCast plans to launch research and analytical tools and further expand into related media and entertainment verticals. It currently works with all of the majors and a range of indie distribs, producers, cable and broadcast networks.
MarketCast was founded in the mid-1980s and acquired by Reed Business Information in January 2000. Reed Elsevier Group’s RBI unit is the parent company of Variety.
“MarketCast continues to perform well, but as a company, RBI is increasingly focused on building paid content, whether in data, subscriptions, conferences or events, and we felt that MarketCast could best continue to thrive with existing management and a new owner for whom marketing research is a core priority,” said RBI Global CEO Mark Kelsey.
William Wynperle, a partner in Shamrock Capital Advisors, called MarketCast “a terrific platform for us. We have been evaluating the entertainment marketing research space for several years and are excited to partner with a talented group with a great track record of providing thoughtful research to an impressive roster of clients.”