Ntwrk has been in dialog to accumulate Advanced Media for months, as the 2 properties share various connections. A number of Advanced Media employees have left the corporate to work at Ntwrk, and the founder and CEO of Ntwrk, Aaron Levant, performed a crucial position in launching ComplexCon in 2016.
On paper, Advanced Media brings scale and a socially savvy demographic to pair with the Ntwrk platform. Its annual ComplexCon occasion, a haven for sneakerheads, streetwear and hip-hop, additionally provides a built-in automobile for retail alternatives.
The Advanced properties would serve a top-of-funnel operate for the Ntwrk enterprise, and the acquisition displays the rising development of media firms serving as buyer acquisition instruments for retail homeowners.
Common Music, a possible strategic associate for Ntwrk, would additionally profit from the attain and musical bona fides of Advanced Media, which incorporates music-centric titles like Pigeons & Planes, in response to an individual accustomed to the technique. In recent times, Common Music has constructed out its editorial portfolio, WMX, to make use of the properties to advertise musical artists signed to the label.
Within the new firm, Levant is more likely to take the position of CEO, whereas Ntwrk has sought to rent Noah Callahan-Bever, previously the chief content material officer of Advanced Media, as president, in response to an individual accustomed to its plan.