Mark Penn‘s challenger holding company Stagwell reported another quarter of double-digit organic growth (+16% organic revenue).
The company reaffirmed its strong 2022 outlook, expecting 18-22% organic net revenue growth and $450-$480m in adjusted Ebitda.
The company cited strong growth in a “continued digital acceleration”, as over half (57%) of revenues were attributed to digital services, with organic year-over-year growth in digital revenues of 28%.
A spokesperson for Stagwell said: “Despite the economic slowdown and bleak outlook for Big Tech, we’re seeing strong performance from most marketing holding companies – why? Revenue is spreading across more channels as brands invest in digital transformation, performance marketing, and media buying”.
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