CMG Holdings Group is a small experiential marketing and communications company that serves corporate clients through its primary subsidiary, XA, The Experiential Agency. CMG plans and executes marketing programs including event production, sponsorship activation, talent buying, stage and set design, branding, public relations, and digital and social media services. The goal is to help corporate clients build brand awareness and drive consumer engagement. CMG earns revenue through retainer fees, markups on services, commissions as a percentage of client revenues, and gross-to-net rate differentials on media buys. Revenue recognition varies by contract — monthly, proportional to performance, or upon completion. Client contracts are individually negotiated and can be terminated with roughly 90 days' notice, limiting long-term revenue visibility. CMG is an extremely small operator with only 3 employees and 3 regular independent contractors, and appears to rely heavily on project-by-project work. CMG competes against much larger players including Interpublic Group, Omnicom, and MDC Partners, which have significantly greater resources, scale, and geographic reach.