Media
Octagon building advisory
Murphy-Stephans, Coward to consult on agency’s growing media rights business
When Octagon launched its media rights consulting business last August, it focused on two areas where it could stand out in a crowded market.
It wanted to use Octagon’s global reach to attract clients around the world. It currently has clients on five continents. And it wanted to set up an advisory board of sports business veterans who could set strategy.
This week, Octagon started to fill out that board with Lydia Murphy-Stephans and Nic Coward taking the first two seats. Murphy-Stephans led Pac-12 Networks as president until stepping down in June 2017. Coward was general secretary of the Premier League, a post he left in 2015.
Octagon is looking to add an executive steeped in the Asian sports media rights business, but it has no quota for how big it wants the board to become.
“We’re going to continue to expand this advisory board when we think that there’s a perfect match in people that complement our offerings,” said Daniel Cohen, a senior vice president at Octagon. “Budget’s not an issue. It’s really more about strategic value. When we hear that our clients want to know more about a specific area or region, we will respond accordingly.”
Since launching the business last year, Octagon has advised on more than $110 million worth of media rights, Cohen said. Its clients include traditional leagues, broadcasters and investment banks looking to get into the business.
The market for these services is crowded with big agencies such as Endeavor and the CAA-backed Evolution Media focusing on the business. Independent companies such as Doug Perlman’s Sports Media Advisors and Chris Bevilacqua’s BHV also are competing in the market.
