Palisades Media, agency that ranks Netflix among its top clients, abruptly closes its doors - Deadline

EXCLUSIVE: Palisades Media Group, a versatile agency based in Santa Monica and known in entertainment circles for its marketing work on behalf of Netflix, has closed abruptly after 26 years in business.

According to multiple sources, agency employees came to work on Friday and an email was sent early in the morning informing them that all of the company's offices would close with immediate effect. Employees will continue to be paid today and will receive a third of their accrued holiday pay, said a person close to the situation, without severance pay or comprehensive health insurance.

Given the role of agencies as intermediaries in the advertising industry, often receiving money from clients and placing orders with branded platforms, the sudden move surprised many players in the advertising community. It raises questions about the fate of the marketing budgets Palisades managed, some of which ran into the millions of dollars.

Palisades owner and CEO Roger Schaffner did not immediately respond to email and voicemail messages from Deadline. General messages to the company also did not return.

Under the motto 'speak softly and press hard', the agency provided media buying, creative and social media services for a range of clients. Along with Netflix, the company's website listed entertainment and cultural clients such as Bleecker Street, Orion Pictures, the Hollywood Bowl, the San Francisco Opera, and smart TV maker Vizio. In addition to the world of media, the roster also included Duluth Trading Co., Pacific Life and Zelle.

The company's most recent post on its business Facebook account came last Tuesday. “Congratulations to Netflix for the 105 Emmy nominations!” read the message. "We are so proud of our partners and the team at PMG for this recognition and future success."

Nellie Andreeva and Anthony D'Alessandro contributed to this report.