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<ul class="summary-list"><li>The SEC obtained an asset freeze against actor <keyword id="11062797" type="UNKNOWN" weightage="60" keywordseo="zachary-horwitz">Zachary Horwitz</keyword> in connection with an alleged $690 million <keyword id="6365281" type="UNKNOWN" weightage="60" keywordseo="ponzi-scheme">Ponzi scheme</keyword>.</li><li>Horwitz is being accused of lying to investors that he had deals to sell films to Netflix and HBO. </li><li>Horowitz promised investors returns in excess of 35% but paid those returns using funds from new investors.</li></ul><p>The US Securities and Exchange Commission obtained an asset freeze against LA-based actor Zachary Horwitz in connection with an alleged Ponzi scheme that raised over $690 million.<br /><br />The US regulator said in a Tuesday <a href="https://www.sec.gov/news/press-release/2021-58">statement</a> that Horwitz-who goes by the screen name Zach Avery-allegedly lied to investors that he and his company were buying film rights and reselling them to Netflix and HBO. In reality, his company had no business relationship with the entertainment giants and relied on fake emails to fool investors. </p><p>According to the SEC statement, Horowitz and his company,1inMM, promised investors returns in excess of 35%, and for years paid supposed returns on earlier investments using funds from new investments. <br /><br />"We allege that Horwitz promised extremely high returns and made them seem plausible by invoking the names of two well-known entertainment companies and fabricating documents," said Michele Wein Layne, Director of the SEC's Los Angeles Regional Office.</p><p>In addition, Horwitz misappropriated investor funds for his personal use, using victim's money to purchase a $6 million property in Beverlywood, California. </p><p>The US Justice Department separately issued a <a href="https://www.justice.gov/usao-cdca/pr/beverlywood-man-arrested-allegedly-bilking-investors-falsely-claiming-license-latin">statement</a> saying the FBI arrested Horwitz on Tuesday. Horwitz was criminally charged with raising $227 million over the course of about five years that has yet to be repaid as part of a scheme in which he claimed he would acquire rights to films that Netflix and HBO would then distribute abroad, particularly in Latin America, the statement said.</p><p>The criminal complaint charges Horwitz with wire fraud, a crime that carries a maximum penalty of 20 years in prison. </p>

SEC charges Hollywood actor with operating a $690 million Ponzi scheme based on fake Netflix deals

Hallmark Christmas movies 2023: Schedule, photos, everything to know about the channel's 40 new holiday films

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></strong></p><ul><li><strong>The Los Angeles Clippers traded Blake Griffin to the Detroit Pistons on Monday.</strong></li><li><strong>The move comes just months after the Clippers wooed Griffin in free agency with a pitch that included raising his jersey to the rafters and likening him to historical figures like Martin Luther King Jr. and Gandhi on a t-shirt.</strong></li><li><strong>Such a move could set the Clippers back from a player-relation standpoint, as players notice how quickly the Clippers moved from the face of their franchise.</strong></li></ul><p><br>The <a href="http://www.businessinsider.com/clippers-trade-blake-griffin-pistons-2018-1">Los Angeles Clippers traded Blake Griffin to the Detroit Pistons</a> on Monday in a blockbuster deal that involved six players and two draft picks.</br></p><p>The Pistons will receive Griffin along with Brice Johnson and Willie Reed while the Clippers will receive Tobias Harris, Avery Bradley, Boban Marjanovic, and first- and second-round draft picks.</p><p>The deal may be a bit cruel for Griffin, who in July signed a five-year, $171 million contract with the Clippers in free agency. Making matters worse, prior to signing the contract, the Clippers had <a href="http://www.businessinsider.com/clippers-employees-t-shirt-blake-griffin-2017-7">wooed Griffin with an elaborate and cringe-worthy pitch</a>.</p><p>ESPN's Zach Lowe reported in October, that the Clippers had arranged a walkway for Griffin at the Staples Center, in which fake walls were decorated with photos of Griffin throughout his life. When Griffin got to the court, the Clippers held a fake ceremony in which they raised his jersey to the rafters. No Clippers player has ever had a jersey retired by the team.</p><p>Furthermore, Marc Spears of ESPN's The Undefeated reported in July that Clippers employees were wearing t-shirts on which faces of prominent historical figures were displayed. The shirt had figures like Martin Luther King Jr., Abraham Lincoln, Gandhi, Muhammad Ali, and more - and Griffin.</p><p>Making such a deal may set the Clippers back a little bit from a player-relations standpoint. Players, particularly prospective free agents, take note of the way organizations treat players. Trading Griffin so quickly after such a grandiose commitment - not to mention sending a star player from major media market in Los Angeles to a struggling Detroit team in January - may alter the perception of the Clippers around the league.</p><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/vince-stephanie-shane-mcmahon-wwe-successor-triple-h-jim-ross-wrestling-2018-1">JIM ROSS: Here's who will take over WWE after Vince McMahon</a></h3>        <div>                    </div>    </div></hr>

The Clippers traded Blake Griffin 6 months after a cringeworthy free-agency pitch in which they raised his jersey to the rafters and likened him to Martin Luther King Jr. and Gandhi

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>The NBA's trade deadline came and went without much big action.<p>To the surprise of many, the Boston Celtics decided to "stand pat," <a href="https://twitter.com/WojVerticalNBA/status/834857025834205186">a source told The Vertical's Adrian Wojnarowski</a>, opting not to make a big move on superstars like Jimmy Butler and Paul George.</p><p>It's a questionable decision by the Celtics, who, after years of hoarding assets, seemingly waiting for a star player to become available, decided stick with their current roster.</p><p>The Celtics are an enviable position. They're second in the Eastern Conference and they own their own first-round pick, plus the right to swap picks with the Brooklyn Nets this summer, likely a top-three pick, <em>and</em> the Nets' 2018 first-round pick.</p><p>The Celtics also have an efficient offense and several tough, heady defenders on team-friendly contracts. They have so many young players and assets that they've had to&#xa0;cut players just to get under the 15-man roster limit.</p><p>Yet there's also a clear ceiling on this Celtics team. Isaiah Thomas, their star player, is a dynamic 5-foot-9 guard who accounts for nearly 30 points per game. The Celtics score 113 points per game when Thomas is on the floor, a figure that'd give them the second-most efficient offense if it were sustained, just a hair under the Warriors. When Thomas is off the floor, the Celtics score 101 points per 100 possessions, which would be 27th in the NBA.</p><p>The Celtics are also 18th in defensive efficiency and 27th in rebound percentage (a stat that tracks the amount of available rebounds a team collects). Put all of this together, and it's not a promising formula for the postseason. Not in a conference owned by LeBron James and the Cavaliers.</p><p>There's no move the Celtics could have made at the trade deadline that would have put them over the Cavaliers, but this was their chance to take the next step, to compete with the Cavs. Why bother collecting assets otherwise?</p><p>In Jimmy Butler and Paul George, there were two legitimate star players who can get a basket one-on-one, carry an offense, and defend the opponent's best player. They're franchise players who have basically carried mediocre rosters into playoff contention.</p><p>It's unclear what, exactly, the Bulls or Pacers were asking for in a trade. Presumably, it would have been some combination of the Nets' 2017 pick, rookie forward Jaylen Brown, Marcus Smart, Avery Bradley, Jae Crowder, and a spare part. It's also unclear what the Celtics offered in exchange or how far they were willing to go.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>In standing pat, the Celtics may have missed their best opportunity to take the next step. The Cavaliers may never be more vulnerable. Kevin Love is out until April. J.R. Smith has been out since December with a thumb injury. LeBron James is carrying one of the heaviest workloads of his career at 32 years old. Barring any significant free-agent signings, they're weak at center and point guard.</p><p>Furthermore, next season brings more uncertainty. The draft is no sure thing - any player the Celtics pick may not be ready to contribute right away. Every player will be a year older. Amir Johnson and Kelly Olynyk will be free agents this summer. Isaiah Thomas and Avery Bradley will be free agents in 2018. Thomas will no doubt be in the running to get a max contract in 2018, while Bradley could, very fairly, ask for a big extension, <a href="http://www.espn.com/espnradio/play?id=18734507">as ESPN's Zach Lowe noted on his podcast</a>. Whatever cap space is available will be tied up quickly, and no roster can stay together forever.</p><p>This not to say the Celtics should have paid any price&#xa0;for Butler or George - there's a limit to what any team should give up for one player. Perhaps the Pacers and Bulls could not be talked down from steep asking prices. But the Celtics were also perhaps the only team who could afford swinging such a star without gutting their roster. Losing valuable role players hurts, obviously, but that's the price of acquiring a franchise player. Even the best teams sometimes can't afford the luxury of keeping all of their best role players if they also want to keep their stars. Ask the Warriors.</p><p>The Celtics may still enjoy a nice playoff run, and their assets aren't going anywhere. Perhaps the asking prices for Butler or George are lower in June, before the draft. But it's clear, for now, that Celtics are not in the same category as the Cavs, or maybe even the Raptors, who were active in improving their roster at the deadline.</p><p>If the Celtics were unwilling to use some of their assets when a star became available now, when, exactly, will be the right time?</p><p><em>This is an opinion column. The thoughts expressed are those of the author.&#xa0;</em></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/pbr-superstar-bucking-bulls-cowboys-2017-2">These superstar bulls are worth up to $500,000</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xxazNlOTE6lc6f8QbSO4Gz7qgkHJqQlr" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The Boston Celtics decided to 'stand pat' at exactly the moment they needed to make a big move

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Andy Lyons/Getty</span></p><p class="caption">Kyrie Irving is one of several star players that could hit free agency in 2019.</p></div><p></p></div></div></strong></p><ul><li><strong>The NBA could be set for an "enormous" 2019 free agency when a ton of star players will hit the market, and a third of the teams could have cap space.</strong></li><li><strong>There is already buzz about potential superstar pairings.</strong></li><li><strong>Some think that teams have learned lessons from the 2016 salary cap spike and will spend their money more wisely.</strong></li><li><strong>Many people are watching how middle-tier players get paid after many of them took short-term deals the last two years.</strong></li></ul><p><br />Two quiet summers in the NBA could pave the way for a wild offseason in 2019.</p><p>The great salary cap spike and ensuing free agency frenzy of 2016 produced some unintended consequences, namely less fluid markets. Teams that spent wildly and freely in 2016 found themselves capped out in 2017 and 2018, while other teams with cap space chose to sit out free agency to preserve their future flexibility. As a result, more players signed one- or two-year deals. </p><p>Now, with the 2018 offseason nearly wrapped up, the NBA world is already preparing for next summer when there could be another free agency boom.</p><p><span style="font-weight: 400;">"There's going to be an enormous free agency offseason this coming year," one league source told Business Insider.</span></p><p><span style="font-weight: 400;">The meaning of "enormous" may depend on who you ask. On the one hand, the sheer size and depth of the 2019 class could make it an exceptional offseason. The salary cap is projected to hit $109 million, an $8 million jump from this current season, <a href="http://www.espn.com/nba/story/_/id/23957526/nba-sets-1019m-salary-cap-2018-19-season">according to ESPN</a>. N</span>early half of the NBA's players are slated to hit free agency while about a third of the league's teams are projected to have cap space.</p><p>On top of it all, the 2019 free agent class is star-studded. Some players won't hit the market because of extensions or contract options, but players who <em>could</em> hit free agency include Kevin Durant, Kyrie Irving, Kawhi Leonard, Jimmy Butler, Klay Thompson, Kemba Walker, Al Horford, DeAndre Jordan, and DeMarcus Cousins. Kristaps Porzingis and Karl-Anthony Towns could both be restricted free agents. And there are plenty more second- and third-tier players who could be major difference-makers for teams, even if they aren't household names.</p><p>There are already rumors about potential super-teams. Two league sources told Business Insider that there is a buzz about Kyrie Irving and Jimmy Butler teaming up in 2019-20, with one source noting "substantial" talk about it.</p><p>Both sources also noted that the New York franchises, the Knicks and Brooklyn Nets, could be well-positioned to land the potential star pairing. Both are slated to have cap space, though the Knicks' path to two max-salary slots would require some wheeling and dealing.</p><p>What may be equally as interesting to monitor is how the market shakes out for the players that fall somewhere between All-Stars and role players. The surplus of players hitting the market could mean some players will not get the deals they're looking for, <a href="http://www.espn.com/nba/story/_/id/24057463/zach-lowe-winners-losers-2018-nba-free-agency">as ESPN's Zach Lowe noted</a>.</p><p>One source called the summers of 2017 and 2018 "anomalies" in the way those second- or third-tier players struggled to find long-term contracts. There were more players signing deals like Avery Bradley did with the Los Angeles Clippers this year (two years, $24 million) than Will Barton did with the Denver Nuggets (four years, $54 million). The same source believes 2019 could begin a "return to normalcy" for those players.</p><p>However, several sources also cautioned against the idea of a spending spree akin to 2016. Teams have learned their lessons from some of the massive four-year deals handed out that summer that looked almost immediately regrettable, sources said. It seems unlikely, for example, that we'll see players like Timofey Mozgov get four-year, $64 million deals.</p><p>Where things could turn is if teams get involved in bidding wars. There are only so many true star players available, and when they're off the market, teams with un-utilized cap space might jump at the chance to land the next-best players. Teams don't <em>plan</em> to overpay players - it usually happens later on.</p><p>The race could start midseason. One front office source said that if teams think they need to have cap space for two max salaries - to land a pairing like Irving and Butler, for example - then they'll try to find a path to cap space for two max salaries. That could heat up the trade deadline when some teams try to open cap space, while others take on contracts in return for assets like draft picks. Furthermore, if teams think they're out of the race on the most prominent free agents that summer, they may take swings on other stars via trade.</p><p>All of the ingredients are there for a wild offseason following two relatively tame summers. Whether teams dive head-first into free agency pool will be worth watching. If not, it could just be the start of the aforementioned "return to normalcy," with another cap jump projected in 2020 and the potential for a <a href="https://www.businessinsider.com/legal-gambling-nba-buzz-salary-cap-spike-f2018-7">future salary cap spike</a> on the horizon.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/lebron-james-spends-millions-cleveland-cavs-nba-finals-champions-2016-6">How LeBron James makes and spends his millions</a></h3>        <div>                    </div>    </div>

After 2 quiet summers, the NBA could be set up for an 'enormous' free agency, but with some important changes

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Kyrie Irving has reportedly <a href="http://www.businessinsider.com/kyrie-irving-asked-cavs-for-trade-2017-7">asked the Cleveland Cavaliers for a trade</a>, likely ending the super-team Cavs as we know them.<p>According to reports, the Cavs feel confident about trading Irving, believing his age (25) and contract status (two years, with a third-year player option) make his stock particularly high.</p><p>However, while the Cavs are likely to get a good return for Irving, finding the <em>perfect</em> return for him is particularly challenging because Irving carries a unique value for&#xa0;the Cavs.</p><p>Irving is undoubtedly one of the most talented scorers in the NBA, but his value in other areas is lower. He's mostly ceded playmaking duties to LeBron James and his defense is, to put it kindly, lacking.</p><p>This becomes one of the Cavs problems when they take on the Golden State Warriors. Against a team with several elite offensive threats on the floor at any time, the Cavs lack the defenders or positional versatility to properly match up. Irving is one of those problems - he's at risk guarding Stephen Curry, but surrenders too much size against Klay Thompson or any forward.</p><p>Despite being a less-than-ideal matchup against the Warriors, Irving offers one trump card - nobody can contain him. The Warriors have been one of the best defenses in the league the last three years and possess several long, talented defenders to put on Irving. None of it matters. In the last two Finals, the Cavs leaned heavily on Irving to get basket after basket against the Warriors' tangle of arms and he did so successfully, averaging 29 points on 47% shooting in 2017 and 27 points on 47% shooting in 2016.</p><p>Being a shot-creator who doesn't defend well isn't an en-vogue skill in today's NBA, but in the case of the Cavs, Irving's scoring ability is of tremendous importance. At 32, LeBron James can't carry the offense for 48 minutes per game. Irving has shouldered that burden, making the difficult look routine.</p><p>In Game 4 of this year's Eastern Conference Finals, with LeBron James in foul trouble, Irving stepped up when the Cavs were trailing. With a potential series tie on the line, Irving exploded for 42 points, roasting excellent perimeter defenders like Avery Bradley and Marcus Smart.</p><p>He did the same in this year's Finals, making near-perfect Warriors defense look meaningless.</p><p><a href="http://www.espn.com/espnradio/play?id=20148555">ESPN's Zach Lowe and Brian Windhorst discussed</a> on "The Lowe Post" the conundrum in which the Cavs find themselves. They could target longer, more athletic players to better match up against the Warriors, but they would dearly miss Irving's scoring. The chances of getting back a player who can do both are extremely low.</p><p>"There are&#xa0;trades out there that I think actually makes the Cavs better equipped to deal with the Warriors, but I don't know if you're gonna replace a guy who's as valuable in a postseason setting in Kyrie Irving, who, if you need two points, the man will get you the two points," Windhorst said.</p><p>Lowe added, "There aren't but three or four guys in the NBA who can do what he did in Game 4 against Boston when James was in foul trouble. That's it."</p><p>Lowe and Windhorst mentioned a hypothetical trade in which the Cavs would trade Irving to the Milwaukee Bucks for Malcolm Brogdon, Khris Middleton, and two first-round picks. The deal would be a good one for the Cavs - Middleton and Brogdon are both young, long defenders who can spread the floor, and create in small doses when needed. They could be ideal players to help defend the Warriors.</p><p>Yet, neither are elite scorers who can carry an offense for entire quarters. In the postseason, particularly against stout defensive teams like the Warriors, teams have to rely on one-on-one scoring. Perhaps nobody has carried that burden better than Irving in recent playoff history.</p><p>This is the type of problem the Cavs are surely discussing as they weigh potential trades. They could use more shooting, more defense, and more athleticism - critical assets in the NBA today. They would also dearly miss Irving's scoring, even if he doesn't check off every box needed.</p><p>Even for a team with LeBron,&#xa0;losing a player of Irving's caliber is going to hurt.</p><div></div><div></div><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/roger-federer-highest-paid-tennis-player-australian-open-nadal-grand-slam-money-2017-7">The incredible life of Roger Federer, the highest-paid tennis player on Earth</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="MxNTVlOTE6ao-F8SnCYWMczzU61VYdvF" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The looming Kyrie Irving trade leaves the Cavs with a unique problem while trying to reload for another run at the Warriors

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>In the summer of 2013, the <a href="http://www.si.com/nba/point-forward/2013/07/30/brandon-jennings-milwaukee-bucks-detroit-pistons-brandon-knight-trade">Detroit Pistons and Milwaukee Bucks agreed to a trade</a> to send Brandon Jennings to the Pistons for Brandon Knight, Khris Middleton, and Slava Kravstov.</p><p>Two years later, Jennings is out for the season with a torn Achilles for Detroit, Knight was traded to the Phoenix Suns, and Kravstov is out of the NBA, making Middleton the lone star of the trade for Milwaukee.</p><p>Middleton has exploded for a career year this season, averaging 13 points on 46% shooting, 42% three-point shooting, and 4.5 rebounds per game. Middleton will be a free agent this summer, and he's increasingly becoming one of the biggest names on the market.</p><p>While his basic stats are solid, what has the NBA world buzzing is where Middleton ranks in an ESPN-created stat called <a href="http://espn.go.com/nba/statistics/rpm/_/sort/RPM">"Real Plus-Minus."</a></p><p>Real Plus-Minus monitors players' impact on the floor while taking into account their teammates' impact. While the original plus-minus (net differential of points scored) measures the changing of scores while a player is on the floor, it can be misleading because it doesn't take teammates' performances into account. Real Plus-Minus does, creating a more accurate picture of how impactful a player is on the court.</p><p>In theory, Real Plus-Minus should show the most impactful players in the NBA, and as expected, most of them are star names. Here are the top-15 players in RPM:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>Middleton ranks eighth in RPM, trailing superstars like Russell Westbrook, Anthony Davis, and Chris Paul by mere percentage points. He also ranks eighth in Defense Real Plus-Minus (which only monitors the defensive end).</p><p>By these measures, Middleton is one of the ten most impactful players in the NBA.</p><p><a href="http://grantland.com/the-triangle/qa-with-milwaukees-khris-middleton-on-impending-free-agency-cereal-and-more/">Grantland's Zach Lowe recently spoke to Middleton</a> and asked him about his high rank in RPM:</p><p style="padding-left: 30px;"><strong>Lowe: You're in the top 10 in real plus-minus. I know you've been asked about that before. Do you think you're one of the 10 best players in the NBA?</strong></p><p style="padding-left: 30px;">Middleton: I have the confidence to be. I'm gonna play like it. Some people will have their opinions, but to be in the league, you have to have confidence that you're one of the best.</p><p>After the Bucks traded their leading scorer Knight to the Suns, Middleton has stepped up. Since the All-Star Break, Middleton is averaging 17 points, 45% shooting, 43% from three, 4.8 rebounds, and 3 assists per game. He also has the highest on-court net rating for the Bucks. As people take notice of his impressive basic and advanced stats, Middleton's free agency stock continues to rise.</p><p class="p1">Tuesday night, Middleton hit a game-winning three-pointer in a critical game vs. the seventh-seed Miami Heat:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>This summer, other young, two-way wings like Kawhi Leonard and Jimmy Butler hit free agency and are expected to command max offers from their own teams and other suitors. Middleton, who only makes $915,243 this season, could possibly get a huge contract raise by a team looking for a young wing player who is statistically elite.</p><p><a href="http://journaltimes.com/sports/basketball/bucks-beat-big-payday-awaits-middleton/article_1994a5dd-9cae-58ca-b8e1-cdc416378e5c.html">Gery Woelfel of the Journal Times reported</a> that NBA GMs expect Middleton to get offers in the range of $7-8 million per season.</p><p>History suggests Middleton will get much more. Last summer, lesser wing players like Avery Bradley and Jodie Meeks received offers in the $7-8 million range. Players like Gordon Hayward and Chandler Parsons, very good wing players, albeit not elite, got maximum or near maximum offers.</p><p>With the <a href="http://www.businessinsider.com/nba-salary-cap-increase-2015-3">NBA's salary cap set to explode</a>, teams are willing to overpay free agents, knowing that in two years, big contracts will take up a smaller portion of the cap.</p><p>If players like Leonard and Butler re-sign with their respective teams, Middleton could command a ton of attention and money from teams looking for a young player who can fill the increasingly important "3 and D" role. As the NBA becomes focused on advanced analytics, Middleton's rank in RPM should make him top target for several teams.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/nate-silver-march-madness-bracket-ncaa-college-basketball-gambling-2015-3">Nate Silver has the perfect formula for winning your March Madness bracket</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tjbmJ4czpmSze8qe2UmKJsmK6A7d8diH" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

A single stat could help a Milwaukee Bucks player cash in as one of the biggest free agents this summer

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul><li><strong>A new breed of social video specialists are carving out a niche.</strong></li><li><strong>These startups are stealing business from traditional ad agency giants by mastering the creative aspects of social media, while also helping brands connect to influencers.</strong></li><li><strong>Industry veterans predict that this group could become acquisition targets down the road.</strong></li></ul><p><br>Creative ad agencies have traditionally been focused on big ideas, and making ads that capture those big ideas. Think "<a href="https://www.youtube.com/watch?v=3zFPcWsmH1g">Coke is It!,</a>" "<a href="https://www.campaignlive.co.uk/article/history-advertising-no-118-nikes-just-it-tagline/1329940">Just Do It</a>" and "<a href="http://www.businessinsider.com/bud-light-dilly-dilly-viral-commercial-super-bowl-campaign-2017-12">Dilly Dilly.</a>"</br></p><p>And while these TV-centric ad giants have focused on these big ideas, they haven't had to think much about: distribution, analytics, social channel management, making thousands of ads for each different social platform, and dealing with talent agencies for high-school aged digital influencers.</p><p>But that's exactly the sort of thing marketers need these days. Enter a new breed of scrappy creative upstarts that are treading on classic ad agencies' turf, while threatening to usurp their businesses and relationships.</p><p>Indeed, a slew of startups have emerged in recent years that specialize in helping marketers connect with the right digital influencers, and make content - mostly videos - designed to be shared across social media while subtly communicating advertisers messages.</p><p>This group, which includes companies like Portal A, Epic Signal, Collab, and Collectively, is tough to categorize.&#xa0;</p><ul><li>Some of them produce original video entertainment series for brands.</li><li>Most of them make branded content videos designed to travel across social networks. And they've become experts at customizing this content for each platform, whether it's&#xa0;Facebook, Instagram, Snapchat, Twitter.</li><li>Besides just making content for advertisers, they promise help in distributing it, and getting it in front of the right people</li><li>To that end, they're versed in using social analytics.</li><li>Most are deeply connected with digital influencers, and how marketers should and shouldn't work with this type of talent.</li><li>Several are housed in Los Angeles and have Hollywood roots</li></ul><p>Regardless of where you put them, these firm are winning business from top marketers like Procter and Gamble, Warner Bros., Mountain Dew and Nike. And that potentially represents a missed opportunity, and maybe even a long term threat, to the classic ad agencies and their parent companies, such as Publicis and IPG.</p><h2>Agencies are constantly playing catchup to new media trends</h2><p>Matt Britton is the CEO of the social influencer firm CrowdTap, and was previously the CEO of a social media-focused ad agency MRY. He said he's seen pattern this before.</p><p>For instance, in the early 2000s, a bunch of agencies came on the scene, establishing bona fides buying search ads on Google. A few years later, startup firms appeared claiming to be early experts on mobile marketing and social media <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword>.</p><p>Eventually big ad agencies had to either snatch these companies up, or match their capabilities quickly.</p><p><span style="font-weight: 400;">"This is the same pattern," Britton said. Only in this case, "brands are getting more savvy. Agencies are bloated, and that world moves very slowly. So they are going directly to the source for these new capabilities."&#xa0;</span></p><p><span style="font-weight: 400;">"They are probably all going to get bought up," he said.</span></p><h2><strong>Portal A started making web shows</strong></h2><p><span style="font-weight: 400;">The Los Angeles-based digital production company Portal A has launched original&#xa0;<a href="https://portal-a.com/we-gave-sulu-a-web-series/">series</a> for platforms like Spotify and Verizon's video app go90. But it is fast becoming a go-to for unique social video work for marketers anchored by influencers.</span></p><p><span style="font-weight: 400;">For example, here's a YouTube video crafted by Portal A featuring digital comic personality <a href="http://www.businessinsider.com/king-bach-is-now-vines-most-popular-celebrity-and-he-has-big-plans-for-hollywood-2015-3">King Bach</a> and NBA superstar Steph Curry (taking inspiration from the <a href="https://www.youtube.com/watch?v=J5GGG0PaSe4">Salt Bae craze</a>) promoting the water filter brand Brita.</span></p><p>Portal A cofounder Zach Blume said that this kind of work is tough for classic ad agencies to pull off, and has gradually become his company's sweet spot.</p><p>"You've had this 50-year precedent of brands working almost exclusively with [a single core agency] on creative work, and the last five years that's been cannibalized," Blume said. "For us, you've got a social strategy on one hand and influencer talent on another. Then throw in production and strategy."</p><p>"It's all very specialized, and there's very little relevance and connection between this discipline and making expensive TV ads," he said.</p><p>Blume said that Portal A's revenue should net out at $17 million in 2017, up from just over $5 million in 2014. Back then it had 10 employees. It now has a staff of more than 50 in Los Angeles who work directly with dozens of marketers.</p><h2>Epic Signal focuses on bespoke social ads</h2><p>Epic Signal founder and CEO Brendan Gahan said his company has found a niche in working directly, and frequently, with a consistent crop of YouTube talent. It even helped Mountain Dew curate its own <a href="http://www.businessinsider.com/mountain-dew-digital-media-influencers-racking-up-views-2017-7">niche network of digital stars.</a></p><p>"I think we're seeing a backlash against scale and we're the antithesis of that," he said.</p><p>"Everything we do is custom. We are social, mobile and digital first. And we're probably not going to do something that maybe a more traditional agency would. We don't fit neatly in."</p><p>The company recently put together a <a href="https://www.facebook.com/Dockers/videos/10155166665813160/">live streaming event on Facebook on behalf of Dockers</a>, as well as an extensive series of custom photos and posts on Instagram and Facebook and <a href="https://www.youtube.com/watch?v=a6035wkT9Es&amp;list=PLy3NeA25EylZVoc6nuNhqut2PGZJs4jAf">even a talk show on YouTube</a> for Amazon Fire TV.</p><p>Gahan's surprised the big ad agency holding companies haven't moved into the space more aggressively. "It's not that old any more," he said. "It's mind boggling to me. How is something that is over a decade old seen as new or experimental? This is a huge issue for the industry as a whole."</p><h2>Collab once built its name on Vine</h2><p>The decade-old Collab started out focused on YouTube, and eventually became a go-to for marketers looking to connect with <a href="http://www.businessinsider.com/30-most-popular-vine-stars-in-the-world-2015-3">Vine stars.</a></p><p>The firm calls itself <em>"a&#xa0;digital talent network and entertainment studio helping creators win at life." </em>Thus, compared to other companies in this arena, Collab is a bit more focused on talents' needs, like managing creators' content rights and things like syndication deals. It works with roughly one thousand creators.</p><p>Chief strategy officer Eric Jacks said its connections with this group are a key differentiator compared to influencer platforms or <a href="http://www.businessinsider.com/youtube-networks-fullscreen-and-stylehaul-both-hit-with-layoffs-2017-9">"multichannel networks" that claim to represent several hundred thousand influencers.</a> "This whole business really operates on relationships," he said. "A connector with little context has little value. It's a&#xa0;very high touch business."</p><p>Collab has landed ad work for top brands like Nike, including a Twitter and Instagram video campaign featuring LeBron James. It's the kind of work most agencies would kill to be a part of.</p><p>"It's very hard to be a digital agency and be good at everything in digital," said&#xa0;Jacks.</p><p>&#xa0;</p><h2>Collectively helps brands with volume and gamers with rage</h2><p>The San Francisco-based Collectively Inc. bills itself as a social influencer-focused agency. It boasts of clients ranging from GMC to HP to Pandora, and has been particularly successful with producing images for advertisers <a href="http://collectivelyinc.com/case-studies/sephora-beauty-uncomplicated">like Sephora on Instagram.</a></p><p>But the firm also recently showcased a group of popular gaming influencers smashing their computers, as part of a Gamer Rage confessional series of videos for HP.</p><p>Natalie Silverstein, vice president of brand, marketing, &amp; culture, said marketers need to figure out a way to connect with consumers in social feeds, where plain-old ads are easily ignored. And unlike in traditional media, these brands simply need to make lots more ads to constantly feed these digital platforms.</p><p>"We're in the middle of a major transformation in the way marketing works," she said. "Marketers n<span style="font-weight: 400;">eed content at scale, and it has to be r</span><span style="font-weight: 400;">eally high quality. And that's o</span><span style="font-weight: 400;">ften not the way traditional agencies are set up to work."</span></p><p><span style="font-weight: 400;">"These are relatively new practices in marketing, and that's all we do."</span><span style="font-weight: 400;"></span></p><div></div><div></div><div></div><div></div><div>    </div><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/over-1500-married-people-reveal-the-most-important-quality-marriage-2017-1">1,500 happily married people say the key to lasting relationships isn't communication - it's respect</a></h3>        <div>                    </div>    </div></hr>

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