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PMG has apparently just done it.
The Fort Worth-based marketing agency has reportedly landed a very big contract — perhaps the behemoth of them all —the North America share of Nike’s $1 billion media business, according to reports.
According to a report in Adweek, Nike selected PMG as its media agency of record in North America. IPG Mediabrands’ Initiative oversee the brand’s media in other parts of the world.
The Fort Worth Report was the first to bring the news to this media market.
The North American portion of the account is worth about $300 million to $400 million, according to a source in the Adweek story.
“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,” says Brian Cross, a partner at the St. Louis-based Elasticity, who spoke to the Fort Worth Report.
Portland-based Nike, founded by Phil Knight, has been renowned as an innovative risk-taker as a promoter in its ads over the course of four decades, particularly in pushing social commentary to the forefront. The campaign featuring former NFL quarterback Colin Kaepernick is a more recent example. That turned heads every which way.
Nike had net revenues of $44.5 billion in 2021, the highest in the brand’s history.
PMG is also on the move.
The company, which said it had 76 percent revenue growth in 2021, was recently named among Adweek’s Fastest Growing Agencies. The agency, led by CEO George Popstefanov, said this spring that it will grow by 91,000 square feet in 2022, including new offices in Dallas and Austin.
In April, the firm said it had opened a 16,000-square foot office on Fifth Avenue in New York, growing from a small WeWork, complete with all the conveniences of Union Square.
In 2022, the agency plans to expand its footprint to Los Angeles and London, too.
The physical growth is being witnessed in Fort Worth, too. The current location at 2845 W. Seventh St. is being expanded to encompass two stories and more than 33,000 square feet.
Its client list includes Gap Inc., Best Western hotels, Madewell, and Sephora. In December, the agency announced that Kohler Co. had selected it as its media agency.