 |
| Mark Penn |
Stagwell reported Q1 net revenues grew 24 percent to $527M, which CEO Mark Penn said was more than double the pace of legacy holding companies.
His “challenger marketing network” posted $12.7M in net income compared to $4.4M a year ago.
“While the GDP may be contracting, Stagwell is growing strongly. The merger has spurred revenue synergies immediately apparent in the big wins, significant industry awards, and integration of talent and technology across our network,” said Penn.
Stagwell picked up “notable” business wins from Lenovo, Taco Bell, Perdue, Ritz-Carlton and Major League Baseball.
Hunter, KWT Global, SKDK, Allison+Partners and Sloane & Co. are Stagwell’s PR units.
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.”
Why M&A activity in the PR and marketing sector could pick up in 2024.
WPP reported Q4 revenues inched ahead 0.3 percent to $4.1B as CEO Mark Read wrapped up a year that he said was more challenging than expected due to cutbacks, mainly by technology clients.
Have a comment? Send it to 
No comments have been submitted for this story yet.