Dive Brief:
- UTA has acquired Gen Z-focused consultancy JUV Consulting to form Next Gen, a practice under its UTA Entertainment Marketing division, according to a press release. Financial terms of the transaction were not disclosed.
- Founded in 2016 by Gen Zers, JUV has worked with hundreds of brands on research and outreach to young consumers, including Google, Unilever and E.l.f. Beauty. JUV also established the ZCON conference, which is expected to continue operating under the Next Gen banner.
- Traditionally a talent agency, UTA continues to build out services aimed at corporate partners through its UTA Advisory umbrella that also includes offerings like MediaLink. The move also speaks to marketers’ ongoing demands for solutions tailored to Gen Z, a demographic that has resisted traditional advertising.
Dive Insight:
UTA further expands into the marketing services arena with the acquisition of JUV and subsequent formation of Next Gen. In snapping up JUV, UTA gains potentially richer insights into an increasingly important consumer cohort, along with access to a lengthy roster of brand clients and a conference brand.
The new division intends to strengthen the talent giant’s burgeoning entertainment marketing arm that has attracted blue-chip companies such as General Motors, Delta Air Lines and The Coca-Cola Company. UTA in 2021 also purchased MediaLink, an influential strategic advisory firm in the media sphere, for $125 million.
Gen Z remains a tough nut for marketers to crack, which poses a problem as the demographic matures into greater financial independence. UTA in the announcement cited studies that forecast Gen Zers, defined as those born between 1997 and 2012, are approaching $150 billion in purchasing power.
Digitally native, Gen Z has also grown accustomed to spending their time on ad-free or ad-light channels, such as streaming and gaming. Members of the group are perceived as both choosier and less loyal than older consumers while putting a bigger premium on brand values tied to social causes. Helmed by Gen Zers, JUV attempts to address those complexities head-on through a mix of market research, crash courses, strategy and marketing and creative services.
“We are a purpose-driven Gen Z community that works with clients to help them better connect with young people,” the company’s website reads. “We believe that in order for brands to understand Gen Z, they have to talk to us, not about us.”
JUV was co-founded in 2016 by CEO Ziad Ahmed and CMO Shaina Zafar, while Maia Ervin serves as chief impact officer.
