Stagwell Marketing Group reported a 67.5 percent surge in Q4 revenues to $313.1M, sparked by growth in its technology and digital businesses.
Organic revenue growth advanced 29.1 percent to $182.7M.
Jay Leveton, Stagwell's partner, noted the robust financial performance occurred amid “a challenging environment brought on by the pandemic,” which took a toll on the company’s travel and entertainment units.
“As the operating environment improves in 2021, and we accelerate to an even more digital world, we remain uniquely positioned as a disruptor that solves the challenges modern marketers face,” he said in a statement.
Bolstered by the 2020 elections, Stagwell’s communications, public affairs and advocacy group posted a 333.3 percent surge in full-year revenues to $78.9M.
That segment covers activities such as strategic communications through traditional media relations, social media and in-person engagements, as well as utilizing digital channels to mobilize and raise funds from supporters and constituents to support political candidates in issue organizations in the public arena.
It includes SKDKnickerbocker, Targeted Victory and Wye Communications.