Michael B. Jordan’s Marketing Agency Regains Independence As It Prepares To Reach Young And Diverse Audiences – AfroTech
Michael B. Jordan’s marketing agency, Obsidianworks, is now fully independent after buying back its stake from marketing agency 160over90.
Obsidianworks
In 2020, Jordan launched Black-owned and led marketing agency Obsidianworks, alongside former Nike executive Chad Easterling, according to Variety. The venture is a continuation of Jordan’s mission for equity in Hollywood.
As AFROTECH™ previously told you, Jordan was named to Time 100’s list for being “a rising force for equity in Hollywood.” His push for equity has led him to contractually require specific diversity benchmarks for a film’s cast and crew.
“You know what you get when you’re dealing with myself and when it comes to [the] workplace, you have an environment that’s reflective of the world that we all live in,” Jordan told AFROTECH™.
One of Obsidianworks’ projects is the “Legacy Classic,” an HBCU men’s basketball showcase televised in Newark, NJ, that has featured a startup competition for Black founders, per AFROTECH™.
“Mike saw an opportunity from his side as an actor — working with studios and production companies that were asking him about connecting with consumers — and as a brand ambassador working with brands and trying to connect to consumers,” Easterling told Ad Age.
Following Obsidianworks’ launch, it was supported by a $20 million investment in 2021 from cultural marketing agency 160over90, according to The Wall Street Journal.
Easterling stated that 160over90 would help accelerate the marketing agency’s efforts while targeting growth and development, per Variety. It also ensured Jordan could access relationships beyond his network and established greater credibility for the venture, Ad Age reported.
Now, Obsidianworks has regained its independence in an effort to target a “younger, more diverse and culturally fluid generation,” Easterling told the outlet. Obsidianworks wants to position itself in preparation for the nearly $124 trillion “Great Wealth Transfer” from Baby Boomers to Millennials, which will be the largest transfer of assets to date, Fortune reports.
“We’re not just talking about Black consumers or multicultural consumers — we’re talking about that entire demographic across every background and nationality,” Easterling told Ad Age. “They’re bringing about the largest transfer of wealth, and they operate differently than millennials and Gen X.”
Regaining full ownership isn’t a reflection of a soured partnership with 160over90, but rather to prepare the agency for its next era.
“When we entered the partnership, going independent was always part of the plan as well,” Easterling said, according to Ad Age. “For us and for them, it was really about wanting to help us get established — help us get the fundamentals and structure in place.”
Easterling also noted that the timing is ideal, as the agency seeks to move faster, take on more risk, and operate with no constraints as it scales.
