Stagwell grew 25% in digital transformation, according to its Q3 earnings call. Stagwell Inc., the challenger holding company started nine years ago by chairman and CEO Mark Penn , has eyes on AI-focused digital transformation and politics as areas of growth. On its Q3 earnings call on Thursday, Stagwell reported year-over-year revenue growth of 15% to $711 million. Performance was led by 25% growth digital transformation, thanks to the Stagwell Marketing Cloud, seven new acquisitions, and the use of AI, as well as the rise of AI-related projects. “AI has required companies to rethink the ways they engage with consumers,” said Penn. Stagwell also surpassed $100 million in net new business in the quarter, thanks to big wins like Adobe and GM, bringing its year-on-year net new business wins to a record $345 million for the year. The holding company also expanded its relationship with clients including United and Microsoft. Penn, who caught up with ADWEEK after the earnings call, was optimistic that Stagwell would deliver double-digit growth in the fourth quarter and reaffirmed guidance of 5% to 7% organic revenue growth for the year. Growth through AI and politics Penn sees opportunity for Stagwell to help companies transform […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
