In a bid to enhance its experiential marketing capabilities, Stagwell has acquired marketing and design studio Tinsel Experiential Design. The news was confirmed in a recent release from both companies.
Tinsel, whose clients include prominent companies like Sony Music Entertainment, GitHub, Pfizer, and Uber, will maintain its brand identity within the holding company. Its founders will also continue to hold their positions, as stated in the release.
The acquisition is seen as a move to capitalize on the resurgence of in-person events and experiential marketing as the effects of the pandemic start to fade. Tinsel will bolster Stagwell’s Team Enterprises with creative resources and production capabilities, such as environmental design, 3D rendering, and staging corporate events and conferences.
Stagwell has also been investing in ARound, its augmented reality platform designed for large-scale venues, highlighting its focus on experiential and immersive experiences. At this year's Cannes Lion, it organized Sport Beach, a hub dedicated to celebrating the cultural power of sports.
“Stagwell is fully committed to expanding experiential offerings to clients with the acquisition of Tinsel,” said Dan Gregory, CEO of Team Enterprises.
Tinsel, founded in Brooklyn in 2011 by Liz Castelli, Adette C. Contreras, and Erica Taylor Haskins, will now be part of Stagwell’s Constellation Network, which includes agencies such as 72andSunny, Anomaly, Colle + McVoy, and The Harris Poll. The three executives will continue their leadership roles at Tinsel, reporting to Constellation Network Chair Justin Lewis. The terms of the deal have not been disclosed.
Stagwell demonstrated its vision for experiential marketing last December by creating a live augmented reality experience for the Los Angeles Rams at their SoFi stadium using its ARound Stadium app.
Although Stagwell reported a slight decrease in its Q1 2023 revenue to $622 million, it expects to return to double-digit growth in the later quarters of the year, following new business wins within and after Q1, according to its earnings report.