 Mark Penn |
MDC Partners shaved its first-quarter loss to $2.5M from $31.3M a year due to its cost-cutting measures of staff, real estate and corporate expenses put into place during 2018.
New CEO Mark Penn said MDC is "on the path to return to both bottom and top-line growth and positive cash flow by the end of the year."
He promised new steps to increase efficiencies, bolster intra-agency cooperation and expand the offerings of its lead shops.
Penn has implemented a two-year program to "transform MDC to the model of a modern marketing services company, combining top creative talent with leading data, research, strategy, digital and media offerings."
MDC's Q1 revenue inched ahead 0.6 percent to $328.8M. Its PR shops are Hunter, KWT Global, Sloane & Co and Allison + Partners.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets.
Why financial planning always plays a crucial role in every PR firm’s success.
Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
Stagwell CEO Mark Penn reported Q4 net revenues dipped 5.6 percent to $551.1M during a “challenging year for marketing services and digital transformation.”
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