United Talent Agency (UTA) has bought a Gen Z-focused consultancy, JUV Consulting, and it will now form Next Gen, a practice under its UTA Entertainment Marketing division. The financial terms of this acquisition were not released. JUV Consulting, which was established in 2016 by members of Gen Z, has worked for numerous brands, such as Google, Unilever, and E.l.f. Beauty, focusing on research and reaching to young consumers.
One of its initiatives, the ZCON conference, is expected to continue operating under the Next Gen banner. This purchase represents UTA’s focus and dedication to its corporate partners, as they continuously issue demands for solutions that focus on Gen Z. This plane of the population has mostly resisted traditional advertising.
With the acquisition of JUV and formation of Next Gen, UTA further broadens its reach in the marketing services. This move brings UTA potentially valuable insights into a consumer group that’s gaining relevance, in addition to access to an expansive list of brand clients and a conference brand.
The intention is to bolster the talent giants’ budding entertainment marketing sector which has pulled in prominent companies such as General Motors, Delta Air Lines, and The Coca-Cola Company. In 2021, UTA also acquired MediaLink, an influential strategic advisory firm in the media business for $125 million.
Marketing to Gen Z has remained challenging for brands, which could pose a problem as this demographic matures and its financial independence grows. UTA cited studies predicting that Gen Z, defined as those born between 1997 and 2012, would soon have around $150 billion in purchasing power.
This group has become used to ad-free or ad-light sources like streaming and gaming. They’re seen to be choosier and less brand loyal compared to older consumers but prioritize brands related to social causes. Led by representatives of Gen Z, JUV tries to handle these intricacies with an amalgamation of market research crash courses, strategy, marketing, and creative services.
Source: UTA buys Gen Z-focused consultancy amid marketing services expansion.
