Cackett, former head of Turner Broadcasting and Addiction creative chief, takes the role of managing director; Balaam, former Turner Broadcasting creative director, becomes the agency's creative director.
Everything Works has already built up a number of media clients including ITV and Nickelodeon, as well as recently launching a new show for kids TV network Jetix.
The team is made up of people with backgrounds in digital and production agencies, including former head of BSkyB's interactive services Alison Thorpe, who takes the role of business development director.
She will work across the commercial realities of rights clearances, and handle the business issues advertisers face when they want to make content work.
Cackett said: "Whether it's a broadcaster looking for advice on its international strategy, a brand wondering how to approach the branded content market or a producer who wants us to create a launch campaign, we think, create and deliver for all of them in the same thought provoking way.
"We have run TV channels and creative agencies, produced, directed, edited, strategised and made the tea."
Balaam said: "People are all over Facebook, YouTube, Flickr, Sky+, iPhones, but big ideas, executed well, will always work, regardless of the platform.
"We focus on the right way to advertise, not just the fashionable way. New-media is no longer new media. It's just media."
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