Recently, leading sports entrainment company ESPN declared that it will join IPG Mediabrands’ MAGNA Consortium, an Interpublic Group (IPG - Analyst Report) association for omni-channel market presence.
Through this strategic initiative, ESPN will expectedly contribute to the Consortium’s goal of testing new standards in order to make media transactions more automated and effective.
The MAGNA Consortium officially came into being in Aug 2013, with seven charter members from the television, radio, and digital industries. Some of the members within the consortium include A+E Networks, AOL, Cablevision, ClearChannel Media and Entertainment and Tribune. MAGNA GLOBAL is the worldwide media unit of Interpublic.
The Consortium was primarily formed to improve the media planning and buying process by analyzing data to induce better performance from media companies and investigating new opportunities to modernizing the industry. Overall, the group seeks to use information and technology to unleash the full potential of all forms of the media.
ESPN believes that the recent tie-up with Interpublic’s ‘Magma Consortium’ will enhance its creativity as well as drive its premium sales proposition and client service. Additionally, being a member of this group will likely boost ESPN’s marketing campaign as well.
N.Y.-based Interpublic Group offers a range of advertising and marketing communication services. Moreover, it offers public relations, meeting and event production, sports and entertainment marketing, corporate and brand identity as well as strategic marketing consulting services to customers in more than 100 countries.
Interpublic Group currently has a Zacks Rank #4 (Sell). Other stocks that are worth a look in the industry include MDC Partners Inc. (MDCA - Snapshot Report) , WPP plc (WPPGY - Analyst Report) and Corporate Executive Board Co. (CEB - Snapshot Report) . While both WPP and Corporate Executive Board carry a Zacks Rank #2 (Buy), MDC Partners has a Zacks Rank #1 (Strong Buy).