Horizon Media has acquired a majority interest in First Tube, a live digital experience platform for brands.
The acquisition will add hybrid digital experiential marketing to the world’s biggest independent media agency’s existing suite of services.
Established in Brooklyn in 2017, First Tube is a branded live-experience marketing platform designed to deliver “always on” premium video content distributed at scale.
Recent examples of First Tube’s work include a series of experiences for Grubhub.
Horizon Media founder and CEO Bill Koenigsberg said: “Some companies have chosen to reactively cut back in this time, but Horizon is focused on the long game. We are making strategic investments in technology and creativity platforms that meet and exceed our clients’ desire to better connect their brands with consumers in more meaningful ways now and in the future.”
Donnie Williams, Horizon Media’s executive vice president and chief digital officer, added that the acquisition is “truly symbiotic”.
First Tube will join Horizon as the company seeks expansion into the metaverse — earlier this month, Horizon Media launched Chapter & Verse, its metaverse- and Web3-focused unit.
“[T]his move significantly strengthens Horizon’s position as we guide clients into web3 and the metaverse, while giving First Tube a foothold in the metaverse itself,” said Williams.
First Tube will continue to operate as a standalone company underneath Horizon’s umbrella, with CEO and co-founder Andrew Beranbom remaining to lead the company.
“Horizon is a market leader, driving data-driven marketing solutions, so the unique opportunity to add an exciting capability with deep expertise across their entire portfolio, while accelerating our leadership position in the market, is an easy win-win”, said Beranbom.
“This move enables investment in First Tube’s innovation and technology road map, while ensuring we can capitalize on the massive opportunities ahead cross Horizon’s full portfolio.”
Horizon Media was fully independent between its founding in 1989 until December of last year, when it sold off a minority stake of the company to Temasek, a Singaporean investment firm.
