The two agencies have complementary, non-competitive client rosters. “AKQA and Grey have highly compatible creative cultures and share a common belief in the power of creativity. AKQA will have a headcount of 6,000 across 50 countries, with AKQA founder Ajaz Ahmed and Grey Worldwide CEO Michael Houston set to take charge of the combined entity. It is understood that the holdings company will gradually integrate the two units into the newly-launched AKQA Group in correspondence with the needs of clients and the shape of the market. The new network aims to provide services that combine the creative expertise from Grey with the innovation and experience design from AKQA. AKQA and Grey will be united into a single entity under the name AKQA Group. Holdings giant WPP has announced that it is merging two of its agencies to create what it dubs “a new network module that offers clients outstanding creativity, innovation and brand-building at a global scale”.
WPP merges Grey and AKQA to form AKQA Group Yet, with concern growing about the monopolisation of other mediums, perhaps Spotify will have to be wary that it doesn’t open itself up to similar accusations. This series of acquisitions puts Spotify well and truly on the path to becoming one of the industry’s leading players. Other companies purchased by the streaming platform include Gimlet, Parcast, and the popular, but controversial Joe Rogan Experience, which it snapped up for USD $100m (£75.8m). The merger makes Megaphone the latest podcast-based business to be acquired by Spotify. After rebranding as Megaphone in 2019, the business turned its attention to its back-end capabilities, including distribution, ad tools, and hosting. Megaphone, which launched under the name ‘Panopoly’ in 2015, spent its early years producing cornerstone podcasts for several well-known media companies, including Vox, The Wall Street Journal, and Buzzfeed. However, it is the purchased firm’s ad tools which appear to be at the centre of the merger. The deal builds on a previous relationship between the two companies which allowed Spotify to use some of Megaphone’s hosting services. Streaming platform heavyweight Spotify has acquired podcast service Megaphone for USD $235m (£178.2m). In today's ExchangeWire news digest: Spotify acquires podcast platform Megaphone for USD $235m WPP merges agencies AKQA and Grey into AKQA Group and NBCU partners with PayPal to enhance its shoppable TV offering.
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