Fort Worth-based PMG has won a big media account, the North America share of Nike’s $1 billion media business, according to several trade publication reports.
According to a report in Adweek, Nike has been conducting a global media review and it selected two new agencies. One was IPG Mediabrands’ Initiative, which will be in charge of the athletic wear brand’s media in other parts of the world, while PMG will be Nike’s media agency of record in North America.
The North American portion of the account is worth about $300 million to $400 million, according to a source quoted in the Adweek story.
PMG and Nike officials could not be reached for comment.
Brian Cross, a partner at St. Louis-based Elasticity, which has offices in Dallas, told the Fort Worth Report the deal with Nike, an iconic brand known for its “swoosh” logo and “Just Do It” slogan, is “a big deal.”
“When you get a client like Nike, you get a lot of flexibility to do your best work and show your best work because they are not afraid to do innovative work,” he said.
Portland-based Nike had net revenues of $44.5 billion in 2021, the highest in the brand’s history. It has been known to be a risk-taker with its advertising, both in content and in execution.
Cross noted the ad featuring controversial former San Francisco 49ers quarterback Colin Kaepernick, but also pointed to the company’s SNKRS App it uses to release some of its highest-demand sneakers.
“It’s been very innovative, and it’s not afraid to be innovative,” said Cross.
PMG’s win will help shine a light on the city and the work of its advertising agencies, Allen Wallach, CEO of Fort Worth-based PAVLOV, said.
“We’re thrilled for PMG and happy to bask in their glow, and hope to continue the trend of demonstrating that Fort Worth agencies have the credentials and capabilities to rival any other city,” he said.
PMG, which was recently named among Adweek’s Fastest Growing Agencies, has been building its national footprint by opening and expanding offices in Los Angeles, New York, Austin and Dallas. In December 2021, PMG announced it was chosen by plumbing and fixture manufacturer Kohler Co. as its integrated strategy and media agency of record. Other PMG clients include Gap Inc., Best Western Hotels & Resorts, Madewell and Sephora.
The company said it had 76 percent revenue growth in 2021 and has nearly doubled its headcount to over 500 employees globally. In Fort Worth, it is expanding its current location at 2845 W. Seventh St., to eventually occupy a total of 33,606 square feet of space.
“After over two years of remote work, we know virtual environments cannot replace the innovation and collaboration that happens when we are together with a shared purpose, and our employees are excited to get back to being in person,” said George Popstefanov, CEO at PMG, in a news release.
Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.