Maja Pawinska Sims 03 Aug 2021 // 8:19AM GMT
LONDON — Sir Martin Sorrell’s holding company, S4 Capital, has merged its MediaMonks and MightyHive brands into one new brand, Media.Monks.
The new brand will bring together all the firm’s creative content and digital media agencies and services, unifying 6,000 employees in 33 countries across the Americas, Europe, the Middle East and Africa and Asia-Pacific under a single P&L. S4 Capital, which currently has a market capitalisation of £3.7 billion, will remain the financial brand listed on the London Stock Exchange.
Sorrell said: “The traditional, analogue holding company model is over 70 years old, dating back to Marion Harper and IPG in the 1950s and cries out for disruptive change. Digital has altered the landscape permanently and brands need a different type of organization to execute and show up for their customers at every moment in the journey – purely digital, with data-driven creative and content, faster, better, cheaper, and with a single P&L.
“So far, S4 Capital has brought together 24 companies that have each disrupted their industry in complementary ways, buying into our mission to create a new age/new era advertising and marketing services model and disrupting the old.”
MediaMonks was S4 Capital’s first big acquisition in July 2018. after Sorrell set up his new venture in May 2018 after his April exit from WPP after 33 years. The co-founders of the 20-year-old Amsterdam-based creative content company, Victor Knaap and Wesley ter Haar, join the board of the new Media.Monks, along with Chris Martin and Pete Kim, co-founders of MightyHive, which was acquired by S4 in December 2018.
Ter Haar said the new brand had been implemented after a “people-first” approach to transition: “The single brand was not a boardroom decision. It involved input from a broad range of teams and talent, and many of our founders. For our people, this means they’re all colleagues and can build amazing careers across the globe and keep going and growing. For our clients, it means they keep the same team and the day-to-day they love—but now have even simpler access to an amazingly deep pool of specialist talent. Consolidation is an engine to innovate and this makes it easier to help our clients show up better for theirs.”
S4 has grown aggressively over the past two years, through the two core brands buying 24 content, digital, influencer marketing and data agencies around the world. This year MediaMonks has made its first forays into PR with the January acquisition of Tomorrow China, the agency that was previously part of Swedish PR conglomerate H&H Group, and the June acquisition of Low Earth Orbit (LEO), the consultancy led by former Edelman Digital leaders Jessica Clifton and Kevin King.
And it shows no signs of slowing down: last month, S4 Capital restructured its finances and loans, resulting in a £200 million pot “for general corporate purposes, including funding the cash element of future mergers”.