MarketCast, one of three leading entertainment research firms in Hollywood, has been sold by Reed Business Information (RBI) to Shamrock Holdings, the companies announced on Friday.
The sale comes as RBI has been busy selling what was once its flagship trade paper, Variety, which was part of the same division. But MarketCast was not previously known to be up for sale.
The terms were not disclosed.
MarketCast is one of the largest market research firms doing tracking, test screenings, material testing and custom research on movies and television shows.
Parent company Reed Elsevier is focused on data and has been jettisoning parts of the company that have to do with content and custom research. The Variety sale is currently under way.
MarketCast’s CEO Henry Shapiro commented, “MarketCast has enjoyed more than a decade of nearly uninterrupted growth, and we look forward to continuing this trajectory with our new partners. There are many opportunities in front of us that we are now in a position to pursue, from continuing our international expansion, to launching new products for our core clients, to migrating into related entertainment sectors, whether through organic growth, acquisition, or partnerships. Capitalizing on these opportunities will enable us to address our clients’ marketing challenges like never before.”
William Wynperle, Partner of Shamrock Capital Advisors, said: “MarketCast is a terrific platform for us. We have been evaluating the entertainment marketing research space for several years, and are excited to partner with a talented group with a great track record of providing thoughtful research to an impressive roster of clients."
MarketCast was founded by Joseph Helfgot, a sociologist who challenged the dominant research firm NRG in the 1990s, and ultimately sold his company to RBI in 2000.
Reed Elsevier Group is a world leading provider of professional information solutions in the science, medical, legal, risk management and business to business sectors.