Migliozzi Is "Foamsourcing" for Pabst
Just think of it as “foamsourcing.”
Ad agency exec Michael Migliozzi, perhaps best-known to B&C readers as the guy who rebranded the Prayer Channel using the Devil as a spokeserpson, says in a release making the rounds Wednesday that his ad agency, Forza Migliozzi, in tandem with the Ad Store, has raised $3 million in its crowdsourcing bid to buy Pabst Brewing Co.
Migliozzi already tried a version of crowdsourcing ads that didn’t fly. He attempted unsuccessfully last year to sell NBC on a co-op Super Bowl ad in his former life as a partner in Cesario Migliozzi.
The $3 million is about 1% of what they will need for the purchase price of Pabst, so the odds appear stacked against them. But like a six-pack’s worth of beer, it’s all about the buzz anyway.
The buy for those wishing to become a part of the blue-ribbon committee running the brewery is five dollars. That is the “bottle” level, followed by “Six Pack Membership” ($25), “Case” ($100) and Brewmeister ($250,000).
The agencies will supply each pledge with the concomitant amount of beer, though it is unclear whether the $250,000 will actually secure brewing rights.
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Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.
By Jens Koerner