Mark Penn
Mark Penn

Stagwell registered an eight percent rise in Q1 revenues to $670M and a $1.3M net loss compared to a $1.4M profit last year.

CEO Mark Penn said the firm is “on target for 2024 with a return to growth” based on double-digit growth in its performance media & data capability offering.

“We see tailwinds of record new business growth in advertising generally, and a strengthened market position given growing industry accolades for our work,” said Penn.

He sees growth for its AI-related digital transformation assignments during the second half of the year along with a strong advocacy season.

Penn expects full-year organic growth in the five to seven percent range for the year. Organic growth grew two percent during Q1.

Stagwell owns SKDK, Allison Worldwide, Sloane & Co., KWT Global and Hunter.