Stagwell's Growth Driven by Digital-first Leadership, Integrated Services, Strategic M&A and Global Expansion
NEW YORK, June 28, 2023 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, announced today it has earned a place on the renowned Fortune 1000, an annual list of the 1,000 largest American companies ranked by revenues, as compiled by the American business magazine Fortune. Stagwell, whose GAAP revenue hit nearly $2.7 billion (FY 2022), attributes its growth to:
"I'm proud to be in the company of some of the world's most notable organizations." - Stagwell Chairman & CEO Mark Penn
- Digital acceleration: Stagwell is the only global marketing network with a majority-digital revenue services mix, with 57% of FY22 revenue hailing from "high-growth digital services"
- Global expansion: Through strategic acquisitions, the opening of regional hubs and offices in Asia-Pacific and Latin America, and partnerships with affiliates to fill regional gaps
- Full-network integrated services: Alignment and collaboration among Stagwell's Anomaly Alliance, Brand Performance Network, Constellation Network, Code and Theory Network, and the Doner Partners Network to win larger pieces of business and service more complex accounts
"Learning about our debut on the Fortune 1000 list while we were having an exceptional turnout and reception to our Sport Beach activation at Cannes Lions, cemented our success as a challenger organization," said Stagwell Chairman and CEO Mark Penn. "This milestone is a testament to the exceptional work and collaboration of our teams in helping our clients succeed, and I'm proud to be in the company of some of the world's most notable organizations."
Stagwell's business approach – blending data-driven marketing strategies with creative storytelling – has proven successful in the rapidly changing digital landscape. This recognition from Fortune underscores the company's commitment to its digital-first strategy, offering further validation that Stagwell is challenging conventional approaches to client services.
The Company recently bought back the Class A shares held by AlpInvest Partners (AlpInvest); the original investors in Stagwell Media LP, Mark Penn and Steve Ballmer, have now fully exited AlpInvest from Stagwell Media LP.
About Stagwell
Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
Media Contact
Sarah Arvizo
pr@stagwellglobal.com
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SOURCE Stagwell Inc.