Stagwell CEO Mark Penn reported a 16 percent spurt in Q2 organic net growth as revenues advanced 221 percent to $672.9M.
The firm’s digital capabilities accounted for 57 percent of revenues and grew 28 percent organically compared to last year.
Penn said Stagwell is now recognized as “a serious alternative to legacy incumbents” due to its unique mix of digital and creative expertise,
“We are now a regular contender in many of the largest global pitches,” he added.
Penn is bullish on the second half of 2022 as its Stagwell’s “advocacy businesses prepare for a record cycle of US political advertising spend and our year-over-year comparisons ease.”
Stagwell expects full-year organic growth will fall into the 18 percent to 22 percent range.