Sports and entertainment giant Wasserman Media Group has acquired the digital agency Laundry Service, according to Ad Age. It appears to be a win-win deal for both parties. Wasserman bolsters its social media presence while Laundry Service gains access to some of the top athletes and brands in the world.
In a blog post on the company website, Laundry Service CEO Jason Stein summed up the reasoning behind the move.
“So, why did we do this deal? Both LS and Wasserman act as business consultants to our clients. LS activates through premium creative and distribution at scale, Wasserman activates sponsorships and events for the world’s biggest brands. Tying it all together, Cycle manages influencers and Wasserman manages athletes; we believe in people as distribution channels.”
Laundry Service already works with major brands such as Jordan and Michael Kors. Wasserman Media Group represents the most athletes of any agency in the world. Russell Westbrook, one of Wasserman’s most notable athletes, has 7.7 million likes/followers on his Facebook, Twitter, and Instagram accounts alone. We will undoubtedly see the work of Laundry Service across many notable social media channels in sports and entertainment.