PE-backed MarketCast acquires Fizziology

MarketCast LLC, a portfolio company of Kohlberg & Company, has acquired Indianapolis-based Fizziology LLC, a provider of social insights and analytics for the media and entertainment industry. No financial terms were disclosed. JEGI provided financial advice to MarketCast on the transaction while Ropes & Gray LLP served as legal counsel.


LOS ANGELES–(BUSINESS WIRE)–MarketCast, LLC (“MarketCast”), the preeminent provider of strategic insights and data analytics to marketers and researchers in the global entertainment industry, announced today that it has acquired Fizziology LLC (“Fizziology”), a leading social insights and analytics company in the media and entertainment space.

Fizziology has developed best-in-class software to convert social opinions into trackable data and insights. This software sits atop a massive data warehouse to create predictive analytics and industry-defining benchmarks for motion picture studios, television networks/platforms, production companies, talent, and brands. Since its launch in 2009, Fizziology has emerged as an industry leader in converting the opinions shared on social media platforms (including Twitter, Facebook, Instagram, Sina Weibo and more) into contextualized data and strategic insights for marketers and creators. Fizziology’s growth has landed the company on the INC 5000 list in both 2016 and 2017, and it was named Best Tech Service at the Mira Awards. In 2017, INC Magazine named Fizziology a national “Best Place To Work” and its innovative culture has been profiled in Forbes and on CNBC.

MarketCast works in collaboration with clients across the entertainment spectrum to test and optimize their content, marketing, and distribution strategies, worldwide. Fizziology joins the MarketCast family alongside New York-based research and strategy agency, Insight Strategy Group, which MarketCast acquired in 2015. Together, Fizziology and Insight reflect MarketCast’s mission to partner with best-in-class companies to provide unparalleled insights and client service across film, television, OTT, interactive gaming, and related lifestyle industries. MarketCast is a portfolio company of Kohlberg & Company, a leading private equity firm headquartered in New York.

“We are thrilled to be joining the MarketCast family,” said Ben Carlson, Co-Founder of Fizziology. “MarketCast’s history of innovation and growth and their sterling reputation within the entertainment industry make them a perfect fit for us. Together, we will be able to develop 360-degree insights that combine the best of digital and traditional research.”

As part of the transaction, Fizziology is bringing its software development team – The Able Few – in-house. “Adding our trusted development partners as full-time Fizziology employees will accelerate innovation at both MarketCast and Fizziology,” says Fizziology Co-Founder Jen Handley. “With the combination of Fizziology’s rapid development capabilities and deep historic data warehouse with MarketCast’s methodological expertise and global scale, we are excited to build the next generation of insights and analytics products.”

“We have been fans of Fizziology for years,” commented Henry Shapiro, CEO of MarketCast, “and I’m excited to welcome Jen and Ben and the entire Fizziology team to the MarketCast group of companies. They have been able to bring research discipline and technological innovation to the rapidly growing field of social analytics. We believe that together, we offer an unparalleled array of insights and capabilities for our clients.”

JEGI, a leading independent investment bank for the media, information, marketing, and software sectors, served as financial advisor to MarketCast, and Ropes & Gray LLP served as legal counsel to MarketCast.

About Fizziology
Fizziology is an insights and analytics company that uses social media to better understand audiences. Fizziology has developed a series of products and services tailored to the needs of the global media and entertainment industry, including casting analysis, marketing performance measurement, and fan identification. With key clients beyond entertainment, Fizziology has growing practices serving travel and tourism, fashion and retail, and sports. Fizziology is a Twitter Official Partner and also works with other major social media platforms – including Facebook, Instagram, Reddit, Tumblr and Sina Weibo –to provide a complete picture of online opinions. Fizziology uses proprietary software and a data warehouse that contains billions of unique messages around films, television, talent, and brands to create predictive analytics and industry-leading benchmarks. Fizziology has international research capabilities, covering 14 key markets including China. Created in 2009 by Ben Carlson and Jen Handley, Fizziology is headquartered in Indianapolis with offices in Los Angeles, Nashville, and Louisville and local market expert analysts around the world. For more information, visit

About MarketCast
Based in Los Angeles, with offices in New York, Boston, and London, MarketCast is a leading provider of marketing research services and data analytics for the global entertainment industry. Through a variety of services backed by rigorously scientific quantitative and qualitative research methods, MarketCast works in collaboration with marketers and researchers across the entertainment spectrum in the development and execution of their marketing strategies, from early concept exploration through distribution. MarketCast services are available worldwide, and include materials testing (trailers, TV spots, digital campaigns, print ads, etc.), concept and positioning studies, exit polls, recruited audience screenings, tracking studies, and focus groups, as well as a host of custom offerings including brand/franchise studies, post-release studies, and attitudes and usage studies. In August 2015, MarketCast acquired Insight Strategy Group, a leading New York-based research and strategy agency that leverages deep expertise anchored in social sciences to fuel brand growth, new product introductions, and service and content innovation. A go-to-partner for media and entertainment clients, Insight Strategy Group also has established industry practices in lifestyle, consumer goods, retail, and services businesses, as well as a pre-eminent youth practice. For more information, visit and

About Kohlberg & Company
Kohlberg & Company, L.L.C. (“Kohlberg”) is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised $7.5 billion of committed equity capital. Over its nearly 30-year history, Kohlberg has completed 72 platform investments and over 150 add-on acquisitions, with an aggregate transaction value in excess of $15 billion. For more information, please visit