Revenue Growth of 6%, Led by 42% Growth in Advocacy
Net Loss Attributable to Stagwell Inc. Common Shareholders of $3 million
Adjusted EBITDA of $86 million; Adjusted EBITDA Margin of 16%
EPS of $(0.03); Adjusted EPS of $0.14
Announces Record Net New Business Led by Largest New Business Win
Net New Business of $113 million in Q2; LTM Net New Business of $324 million
Reaffirm Guidance for 2024 of Organic Net Revenue Growth of 5% to 7%; Adjusted EBITDA of $400 million to $450 million; Free Cash Flow Conversion of ~50%
New York, NY, August 1, 2024 (NASDAQ: STGW) – Stagwell Inc. (“Stagwell”) today announced financial results for the three and six months ended June 30, 2024.
SECOND QUARTER RESULTS:
- Q2 Revenue of $671 million, an increase of 6% versus the prior year period; H1 Revenue of $1.3 billion, an increase of 7% versus the prior year period
- Q2 Net Loss attributable to Stagwell Inc. Common Shareholders of $3 million versus $3 million in the prior year period; H1 Net Loss attributable to Stagwell Inc. Common Shareholders of $4 million versus Income of $2 million in the prior year period
- Q2 Adjusted EBITDA of $86 million, a decrease of 6% versus the prior year period; H1 Adjusted EBITDA of $176 million, an increase of 8% versus the prior year period
- Q2 Adjusted EBITDA Margin of 16% on net revenue; H1 Adjusted EBITDA Margin of 16% on net revenue.
- Q2 Earnings Per Share Attributable to Stagwell Inc. Common Shareholders of $(0.03) versus $(0.03) in the prior year period; H1 Earnings Per Share Attributable to Stagwell Inc. Common Shareholders of $(0.04) versus $(0.01) in the prior year period.
- Q2 Adjusted Earnings Per Share attributable to Stagwell Inc. Common Shareholders of $0.14 versus $0.18 in the prior year period; H1 Adjusted Earnings Per Share attributable to Stagwell Inc. Common Shareholders of $0.30 versus $0.31 in the prior year period.
- Net new business wins of $113 million in the second quarter, last twelve-month net new business wins of $324 million.
- Q2 Net Revenue of $554 million, an increase of 2% versus the prior year period; H1 Net Revenue of $1.1 billion, an increase of 2% versus the prior year period
- Q2 Organic Net Revenue increased 1.2% versus the prior year period; H1 Organic Net Revenue increased 1.5% versus the prior year period
Mark Penn, Chairman and CEO, said, “Stagwell delivered solid results this quarter with record-smashing net new business wins of $113 million, bringing our last twelve-month net new business figure to $324 million. Success for the year continues to build, with new business wins from General Motors, Macy’s, Target, and Zales just coming online to bolster H2. Additionally, the momentum is continuing, with wins already coming in Q3, and an active political season that has been energized even further by recent developments.
We are at a critical inflection point as we grow our capabilities, enabling us to land $20 to $40 million remits, while expanding our AI deployments, Stagwell Marketing Cloud capabilities, and our global reach. We are seeing these strategies come together now to set the stage for a strong H2 and 2025,” added Penn.
Frank Lanuto, Chief Financial Officer, commented: “Driven by record-breaking net new business and strong growth in Creativity & Communications, Advocacy, and Performance Media & Data, Stagwell delivered solid second quarter revenue of $671 million, a 6% increase over the prior year. While improving our comp-to-net revenue ratio, we invested in initiatives to build and convert our revenue pipeline into new business, including the successful SPORT BEACH activation at Cannes. The multiple $10 million-plus wins in Q2 and early Q3 confirm our growth strategy and bolster our confidence in our full-year guidance.”
Financial Outlook
2024 financial guidance is reiterated as follows:
- Organic Net Revenue growth of 5% to 7%
- Organic Net Revenue excluding Advocacy growth of 4% to 5%
- Adjusted EBITDA of $400 million to $450 million
- Free Cash Flow Conversion of approximately 50%
- Adjusted EPS of $0.75 – $0.88
- Guidance assumes no impact from foreign exchange, acquisitions or dispositions.
| * The Company has excluded a quantitative reconciliation with respect to the Company’s 2024 guidance under the “unreasonable efforts” exception in Item 10(e)(1)(i)(B) of Regulation S-K. See “Non-GAAP Financial Measures” below for additional information. |
Video Webcast
Management will host a video webcast on Thursday, August 1, 2024, at 8:30 a.m. (ET) to discuss results for Stagwell Inc. for the three and six months ended June 30, 2024. The video webcast will be accessible at https://stgw.io/Earnings. An investor presentation has been posted on our website at www.stagwellglobal.com and may be referred to during the webcast.
A recording of the webcast will be accessible one hour after the webcast and available for ninety days at www.stagwellglobal.com.
Stagwell Inc.
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 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.
Contacts
For Investors:
Ben Allanson
For Press:
Beth Sidhu
Non-GAAP Financial Measures
In addition to its reported results, Stagwell Inc. has included in this earnings release certain financial results that the Securities and Exchange Commission (SEC) defines as “non-GAAP Financial Measures.” Management believes that such non-GAAP financial measures, when read in conjunction with the Company’s reported results, can provide useful supplemental information for investors analyzing period to period comparisons of the Company’s results. Such non-GAAP financial measures include the following:
(1) Organic Revenue: “Organic revenue growth” and “Organic revenue decline” reflects the year-over-year change in the Company’s reported net revenue attributable to the Company’s management of the entities it owns. We calculate organic net revenue growth (decline) by subtracting the net impact of acquisitions (divestitures) and the impact of foreign currency exchange fluctuations from the aggregate year-over-year increase or decrease in the Company’s reported net revenue. The net impact of acquisitions (divestitures) reflects the year-over-year change in the Company’s reported net revenue attributable to the impact of all individual entities that were acquired or divested in the current and prior year. We calculate impact of an acquisition as follows: (a) for an entity acquired during the current year, we present the entity’s prior year net revenue for the same period during which we owned it in the current year as impact of the acquisition in the current year; and (b) for an entity acquired in the prior year, we present the entity’s prior year net revenue for the period during which we did not own the entity in the prior year as impact of the acquisition in the current year. We calculate impact of a divestiture as follows: (a) for a divestiture in the current year, we present the entity’s prior year net revenue for the same period during which we no longer owned it in the current year as impact of the divestiture in the current year; and (b) for a divestiture in the prior year, we present the entity’s prior year net revenue for the period during which we owned it in the prior year as impact of the divestiture in the current year. We calculate the impact of any acquisition or divestiture without adjusting for foreign currency exchange fluctuations. The impact of foreign currency exchange fluctuations reflects the year-over-year change in the Company’s reported net revenue attributable to changes in foreign currency exchange rates. We calculate the impact of foreign currency exchange fluctuations for the portion of the reporting period in which we recognized revenue from a foreign entity in both the current year and the prior year. The impact is calculated as the difference between (1) reported prior period net revenue (converted to U.S. dollars at historical foreign currency exchange rates) and (2) prior period net revenue converted to U.S. dollars at current period foreign exchange rates.
(2) Net New Business: Estimate of annualized revenue for new wins less annualized revenue for losses incurred in the period.
(3) Adjusted EBITDA: defined as Net income excluding non-operating income or expense to achieve operating income, plus depreciation and amortization, stock-based compensation, deferred acquisition consideration adjustments, and other items. Other items include restructuring costs, acquisition-related expenses, and non-recurring items.
(4) Adjusted Diluted EPS is defined as (i) Net income (loss) attributable to Stagwell Inc. common shareholders, plus net income attributable to Class C shareholders, excluding amortization expense, impairment and other losses, stock-based compensation, deferred acquisition consideration adjustments, discrete tax items, and other items, divided by (ii) (a) the per weighted average number of common shares outstanding plus (b) the weighted average number of Class C shares outstanding, (if dilutive). Other items includes restructuring costs, acquisition-related expenses, and non-recurring items, and subject to the anti-dilution rules.
(5) Free Cash Flow: defined as Adjusted EBITDA less capital expenditures, change in net working capital, cash taxes, interest, and distributions to minority interests, but excludes contingent M&A payments. Free Cash Flow Conversion is the percentage of adjusted EBITDA.
Included in this earnings release are tables reconciling reported Stagwell Inc. results to arrive at certain of these non-GAAP financial measures.
This document contains forward-looking statements. within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company’s representatives may also make forward-looking statements orally or in writing from time to time. Statements in this document that are not historical facts, including, statements about the Company’s beliefs and expectations, future financial performance, growth, and future prospects, the Company’s strategy, business and economic trends and growth, technological leadership and differentiation, potential and completed acquisitions, anticipated operating efficiencies and synergies and estimates of amounts for redeemable noncontrolling interests and deferred acquisition consideration, constitute forward-looking statements. Forward-looking statements, which are generally denoted by words such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “create,” “develop,” “estimate,” “expect,” “focus,” “forecast,” “foresee,” “future,” “goal,” “guidance,” “in development,” “intend,” “likely,” “look,” “maintain,” “may,” “ongoing,” “opportunity,” “outlook,” “plan,” “possible,” “potential,” “predict,” “probable,” “project,” “should,” “target,” “will,” “would” or the negative of such terms or other variations thereof and terms of similar substance used in connection with any discussion of current plans, estimates and projections are subject to change based on a number of factors, including those outlined in this section.
Forward-looking statements in this document are based on certain key expectations and assumptions made by the Company. Although the management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The material assumptions upon which such forward-looking statements are based include, among others, assumptions with respect to general business, economic and market conditions, the competitive environment, anticipated and unanticipated tax consequences and anticipated and unanticipated costs. These forward-looking statements are based on current plans, estimates and projections, and are subject to change based on a number of factors, including those outlined in this section. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the Company’s control. Therefore, you should not place undue reliance on such statements. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of them in light of new information or future events, if any.
Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Such risk factors include, but are not limited to, the following:
- risks associated with international, national and regional unfavorable economic conditions that could affect the Company or its clients
- demand for the Company’s services, which may precipitate or exacerbate other risks and uncertainties;
- inflation and actions taken by central banks to counter inflation;
- the Company’s ability to attract new clients and retain existing clients;
- the impact of a reduction in client spending and changes in client advertising, marketing and corporate communications requirements;
- financial failure of the Company’s clients;
- the Company’s ability to retain and attract key employees;
- the Company’s ability to compete in the markets in which it operates;
- the Company’s ability to achieve its cost saving initiatives;
- the Company’s implementation of strategic initiatives;
- the Company’s ability to remain in compliance with its debt agreements and the Company’s ability to finance its contingent payment obligations when due and payable, including but not limited to those relating to redeemable noncontrolling interests and deferred acquisition consideration;
- the Company’s ability to manage its growth effectively;
- the Company’s ability to identify, complete and integrate acquisitions that complement and expand the Company’s business capabilities, to identify and complete divestitures and to achieve the anticipated benefits therefrom;
- the Company’s ability to develop products incorporating new technologies, including augmented reality, artificial intelligence, and virtual reality, and realize benefits from such products;
- the Company’s use of artificial intelligence, including generative artificial intelligence;
- adverse tax consequences for the Company, its operations and its stockholders, that may differ from the expectations of the Company, including that future changes in tax laws, potential increases to corporate tax rates in the United States and disagreements with tax authorities on the Company’s determinations that may result in increased tax costs;
- adverse tax consequences in connection with the Transactions, including the incurrence of material Canadian federal income tax (including material “emigration tax”);
- the Company’s unremediated material weaknesses in internal control over financial reporting and its ability to establish and maintain an effective system of internal control over financial reporting, including the risk that the Company’s internal controls will fail to detect misstatements in its financial statements;
- the Company’s ability to accurately forecast its future financial performance and provide accurate guidance;
- the Company’s ability to protect client data from security incidents or cyberattacks;
- economic disruptions resulting from war and other geopolitical tensions (such as the ongoing military conflicts between Russia and Ukraine and in Israel and Gaza), terrorist activities and natural disasters;
- stock price volatility; and
- foreign currency fluctuations
Investors should carefully consider these risk factors, other risk factors described herein, and the additional risk factors outlined in more detail in our 2023 Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2024, and accessible on the SEC’s website at www.sec.gov, under the caption “Risk Factors,” and in the Company’s other SEC filings.
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New Survey by Stagwell (STGW)’s The Harris Poll Highlights Critical Gaps in Postpartum Maternal Health Education and Support in the U.S.
NEW YORK, July 31, 2024 /PRNewswire/ — In conjunction with World Breastfeeding Week which starts tomorrow, The Harris Poll, a Stagwell Agency, is releasing additional data from its second annual State of Maternal Health Report, revealing significant shortcomings in the health information and support women in the U.S. receive throughout their pregnancy and postpartum journey. Key findings from the survey, conducted online in April of 2024 among more than 1,000 U.S. women aged 18+, indicate a worrying trend: pregnant women in the U.S. are being underserved when it comes to postpartum education and support.
Two in 5 women who have been pregnant (40%) report receiving insufficient (22%) or no information/ resources at all (18%) from their healthcare providers (HCPs) on the topic of breastfeeding, according to the survey. The gap widens when it comes to mental health, with more than half of women who have been pregnant (53%) likely under-supported as they did not receive any (40%) or enough (13%) information/resources on postpartum depression.
“These statistics are not just numbers; they represent the real struggles of mothers nationwide, including myself, who feel neglected by the systems meant to support them,” expressed Christina Lojek, Research Manager at The Harris Poll. “Fueled by my own experiences, I chose to lead this study, and it solidifies how imperative it is that we improve postpartum support and education for mothers, who are clearly asking for and deserving of much better care.”
Lack of education on postpartum depression is even more distressing given how much more widespread this health issue is becoming. About 1 in 8 women who are currently pregnant or have been pregnant (13%) say they were diagnosed with postpartum depression by a medical professional – this jumps to 29% among women ages 18-34, versus 10% among women ages 35+.
The need for better postpartum care, in general, is also evident. Roughly 1 in 4 women who have been pregnant (24%) rate their postpartum care as less than adequate. Postpartum care unfortunately appears to be on the decline, with over a third of women ages 18-34 who have been pregnant (36%) citing subpar care, compared to just 22% of women ages 35+. Additionally, a substantial 74% of all women agree that there isn’t enough focus on postpartum healthcare for mothers, and nearly two thirds (64%) feel that mothers are often forgotten once the baby arrives.
Another significant way that women are being neglected postpartum is the lack of federal maternity leave in the U.S. The survey highlights a strong consensus on the importance of maternity leave, with nearly all women affirming its pivotal role in improving health outcomes for both mothers and their babies (90%, each). Despite this, dissatisfaction with U.S. maternity leave policies is evident, as a significant majority of women (73%) consider the leave provided by most U.S. employers insufficient, indicating a need for reform. Nearly 3 in 5 women (58%) believe that the standard minimum length of paid maternity leave should be extended to at least 12 weeks, with about a quarter advocating for 20 weeks or more, and 11% suggesting a minimum of 26 weeks.
The weeks and months after giving birth are crucial to both mother and baby, not only to give them time to bond, but to allow mothers to recover and focus on caring for and nourishing their babies. When specifically looking at breastfeeding, the benefits are widespread, from aiding with bonding, to protecting both mother and baby from various health risks. Furthermore, according to a study published by HHS, there is a direct correlation between length of maternity leave and breastfeeding initiation and prolonged duration. Yet, current U.S. maternity leave policies, or lack thereof, do not support this.
Shockingly, almost two thirds of women (64%) are unaware that the U.S. lacks federal paid maternity leave. This finding underscores a significant information deficit that could leave many expecting mothers in a position where they need to choose between prioritizing the wellbeing of themselves and their baby or their job.
At the start of World Breastfeeding week, these findings are even more concerning and paint a dire picture of the critical need for comprehensive educational programs, substantial policy changes, and a stronger support system for mothers during and after pregnancy. This is a wake-up call for all stakeholders involved in maternal healthcare to strengthen support structures and ensure mothers receive the care and information they need to safeguard the health and well-being of both mothers and their children.
If you or someone you know are currently pregnant or plan to be pregnant in the future, please consider checking out the below resources/information to better support that journey.
- To better support your breastfeeding journey:
- Reach out to your insurance company before giving birth to understand lactation support benefits, in-network lactation consultants, and to find out how to get a free breast pump
- Work with a lactation specialist after delivering (the hospital has them on staff), and/or consider seeing one in the weeks after giving birth
- Check with your HCP/delivering hospital about local breastfeeding cafes, which provide peer support and are often led by a lactation specialist
- To ensure you are getting the maximum allowed leave time if you are employed, ask your employer about their maternity leave policy and how it works in conjunction with state disability and/or state paid family leave
- To better support your mental health during and after pregnancy, ask your healthcare provider(s) about signs of depression/PPD and anxiety/PPA to look out for and resources to help manage these issues
Survey Method:
The 2024 State of Maternal Health survey was conducted online in the U.S. by The Harris Poll April 2-4, 2024 among 2,061 U.S. adults ages 18+, among whom 1,116 are women, and 701 are women who are currently pregnant or have ever been pregnant. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact christina.lojek@harrispoll.com.
About The Harris Poll
The Harris Poll is a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. It works with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. One of the longest-running surveys in the U.S., The Harris Poll has tracked public opinion, motivations and social sentiment since 1963, and is now part of Stagwell, the challenger holding company built to transform marketing. To learn more, please visit www.theharrispoll.com
Contact:
Christina Lojek
christina.lojek@harrispoll.com
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Unifying Stagwell’s digital transformation agencies provides greater scale and growth opportunities for clients
NEW YORK, July 31, 2024 /PRNewswire/ — The Code and Theory Network, Stagwell’s digital transformation network, has expanded to include Instrument and Left Field Labs. The move strategically aligns Stagwell’s individual digital transformation agencies under the Code and Theory Network to create unparalleled digital transformation capabilities unseen in the market today.
This expansion bolsters the Code and Theory Network, which is the only end-to-end digital transformation network backed by 50% engineers and 50% creatives at scale.
The Code and Theory Network now consists of Code and Theory, Instrument, Kettle, Truelogic, Left Field Labs (LFL), Rhythm and Mediacurrent.
Together, the Code and Theory Network is positioned to deliver comprehensive value from concept to continuity, serving as strategic partners in AI-driven transformation. Its human-led, tech-powered approach embeds AI into its capabilities, delivering practical, tangible benefits for its clients.
Instrument is a design and technology company dedicated to helping brands unlock their full potential. It comprises its first all-women C-suite, which underscores its commitment to diversified perspectives in leadership. Across the verticals of brand, product and marketing, Instrument continues to experience tremendous growth, across a diverse set of new and long-standing partners.
Left Field Labs is the creative technology and innovation partner for some of the world’s most ambitious brands — where people go to build what’s next. Recently, LFL spotlighted Google Search’s new, more innovative modalities utilizing AI and AR. LFL conceptualized, designed and built a new website to drive product demos and Google app downloads, which launched to celebrate Search’s 25-year anniversary. Other clients include Amazon, Hasbro, Disney, Verizon and Uber.
As part of the Code and Theory Network, Instrument and Left Field Labs have the opportunity to further elevate their creative and engineering capabilities while maintaining their distinct cultures. They will benefit from complementary specialty digital expertise, centralized resources and expanded collaboration for shared growth. Additionally, they can leverage the Code and Theory Network’s flexible nearshore and offshore engineering talent with expertise across North America, South America and Asia.
This expansion builds on a historic year for Code and Theory, the leading digital transformation agency, recently recognized as Ad Age’s Business Transformation Agency of the Year, ANA B2B Agency of the Year and the Ace Awards Agency of the Year, winning Gold at New York Festivals and more.
Code and Theory has seen an influx of top talent this year having brought on Craig Elimeliah (formerly of VML and Lippe Taylor) as Chief Creative Officer, Raj Bhatia, (formerly of Deloitte Digital) as Global Chief Technology Officer, and Co-Heads of Production Julia LaRose (formerly of Accenture) and Christine Clark (formerly of Thinkingbox).
Dan Gardner, Co-Founder and Executive Chair of Code and Theory, says: “In a world where emerging technology like AI is undeniably going to transform companies, there is still a lot of confusing noise and misdirected hype. Our unique strategy to ensure our solutions are meaningful has remained consistent: combine creativity and technology to find the opportunities of tomorrow. With the addition of these new companies, we have created the ultimate challenger agency to the legacy consultancies and rigid holding companies that can’t deliver the modern model required to outperform our clients’ expectations.”
Michael Treff, CEO, Code and Theory says, “The Code and Theory Network is best positioned to solve our client’s hardest challenges, most of which focus on accelerating growth through creativity and technology. The addition of Left Field Labs and Instrument adds a depth of innovation and new and unique capabilities as well as unparalleled CX scale. With these additions, we are better able to provide strategically sound solutions and deliver measurable outcomes for our clients.”
Laurel Burton, CEO, Instrument says: “We are at one of those moments of the technology curve where you need trusted brands that not only know how to implement technology, but also design innovative use cases that deliver tremendous long-term value. Being part of the Code and Theory Network gives Instrument the scale to deliver on a global stage as we look to our next chapter of growth. We are committed to finding forward-looking solutions for age-old challenges — creating work that has a lasting impact.”
Sarah Richardson Mehler, CEO, Left Field Labs says: “As a part of the Code and Theory Network, Left Field Labs can offer our clients the opportunity to innovate at scale to build for the future. The network shares a fundamental belief that convergence of emerging technologies will change businesses, industries and the Internet as a whole. I couldn’t be more thrilled to be part of the Code and Theory network and all that we are unlocking together.”
About Code and Theory Network
Code and Theory Network is the only network with a balance of 50% creative and 50% engineers at scale. The technology-first group within Stagwell Group is built to partner with businesses to navigate the complexity of changing consumer behaviors, emerging technologies and AI. With a global footprint and the capabilities to work across the entire consumer journey, we crave the hardest problems to solve. The network includes the flagship agency Code and Theory as well as Instrument, Kettle, Left Field Labs, Truelogic, Rhythm and Mediacurrent. Code and Theory clients include Amazon, JPMorgan Chase, Microsoft, MSNBC, NFL, Pfizer and Zappos. For more, visit codeandtheory.com
About Instrument
Instrument is a multidisciplinary creative company that redefines brands and experiences, with offices in Portland, Oregon, New York, New York and Los Angeles, California. We are a dynamic group of creative technologists and storytellers that use the power of design and technology to co-create groundbreaking work with our clients. We connect brands like never before — helping organizations reimagine the most valuable pieces of their digital ecosystem. With deep talent in the areas of Strategy, Design, Development and Content Creation, we build modern experiences for ambitious brands.
About Left Field Labs
Left Field Labs is a digital agency dedicated to solving our common challenges through uncommon creativity. Our team of over 100 designers, developers and strategists has launched hundreds of digital products and experiences — from VR and websites to apps and experiential installations — for clients, such as Google, Discovery, Android, Estée Lauder, Uber and Disney.
Contact:
Kenneth Hein
kenneth.hein@codeandtheory.com
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79% OF VOTERS APPROVE OF BIDEN’S DECISION TO STEP DOWN
KAMALA HARRIS ENJOYS A 9 POINT JUMP IN FAVORABILITY FOLLOWING HER ANOINTMENT AS THE FRONTRUNNER DEMOCRATIC CANDIDATE
TRUMP LEADS HARRIS BY 3 POINTS, DOWN FROM HIS JUNE 7 POINT LEAD ON BIDEN
NEW YORK and CAMBRIDGE, Mass., July 30, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW) today released the results of the July Harvard CAPS / Harris poll, a monthly collaboration between the Center for American Political Studies at Harvard (CAPS) and the Harris Poll and HarrisX. The new poll found that after an unprecedented month in American politics that witnessed a failed assassination attempt on former President Trump and President Biden stepping aside in favor of Vice President Harris running as the Democratic candidate in November, the horserace has reset to a 3-point lead for Trump, 48% to 45%, with 7% still undecided.
Both Trump and Harris have benefited from a jump in favorability due to these events, now tied at 48% and 47% favorability, respectively. Nevertheless, with 24% of voters saying they could change their mind, the matchup is highly competitive.
“The Democratic Party has recovered from what was a Titanic — the iceberg of age was sinking them rapidly,” said Mark Penn, Co-Director of the Harvard CAPS / Harris poll and Stagwell Chairman and CEO. “Kamala Harris has come with lifeboats to put the race back where it was.”
The July poll covers public opinion on the candidates and the GOP policy platform coming out of the Republican National Convention. Download key results here.
HARRIS RE-ENERGIZES DEMOCRATS
- 79% of voters approve of Biden’s decision to step down, and 55% approve of his endorsement of Harris including 92% of Democrats.
- Compared to June, more Democrats say they would vote for the Democratic candidate (+5 points), and less Independents are unsure of who they would vote for (-10 points). Most of those undecided Independent voters say they would vote for Harris (Harris: +7 points; Trump: +3 points).
- Harris performs better among minority voters with the support of a plurality of women (48%), Black (67%), and Hispanic (47%) voters.
- 24% of voters say they have not made up their mind on who they will vote for, including 20% of Democrats, 17% of Republicans, and 41% of Independents.
BIDEN’S DECISION TO STEP ASIDE HAS LITTLE IMPACT ON APPROVAL RATINGS
- Biden’s approval rating remains low at 42%, up 2 points from June.
- 54% of voters say they approve of the job Trump did as president, up 2 points from June. Among minority voters, 53% of Hispanic voters and 40% of Black voters approve.
- Across political parties, inflation remains the most important issue to voters personally. 48% of voters say their personal financial situation is worsening, especially among women (53%), Hispanic (51%), and rural (57%) voters.
- 65% of Black voters approve of the Democratic Party, while 59% of white voters and 52% of Hispanic voters disapprove.
HARRIS WINS ON PERSONALITY BUT IS SEEN AS CONTINUITY OF BIDEN, DIVERGING FROM ELECTORATE ON KEY POLICY PREFERENCES
- Between the two candidates, more voters believe Harris has the right temperament, is more trustworthy, and is more honest, while more voters perceive Trump as a fighter and someone who will get things done.
- 67% of voters say Harris will continue Biden administration policies on issues like taxes, inflation, immigration, and energy. Roughly half believe she is politically aligned with Biden.
- A majority of voters oppose open borders (67%), ending private healthcare options (68%), and mandating the replacement of gas cars with electric vehicles (72%) — but a majority believe Harris supports those policies (borders: 69%; healthcare: 53%; electric vehicles: 72%).
- Josh Shapiro and Mark Kelly are the VP nominees who would be most helpful to Harris.
MAJORITY OF VOTERS SUPPORT GOP PLATFORM COMING OUT OF THE CONVENTION
- A majority of voters support GOP platform initiatives like protecting social security and Medicare, ending inflation, and stopping violence and crime, including over 89% of Republicans and over 79% of Independents across every policy issue.
- 33% of voters think the Republican Party left out abortion from its policy platform because the party believes it is a state decision. A plurality of Democratic (31%), 18-24 year-old (23%), and Black (24%) voters believe the party has a secret plan to ban abortion.
- 45% of voters and 76% of Republicans approve of J.D. Vance as Trump’s running mate, but roughly half of voters say the selection has no impact on their vote.
VOTERS SUPPORT ISRAEL IN THE FACE OF HEZBOLLAH ATTACKS, WANT GAZA TO BE ADMINISTERED BY ARAB NATIONS
- 66% of voters believe Israel should retaliate if Hezbollah keeps firing rockets into the north (age 18-24: 46%; ages 65+: 82%).
- 82% of voters say Hamas should be removed from power in Gaza, consistent with June sentiment.
- A plurality of voters (38%) think Gaza should be administered by a new authority set up through negotiations with Arab nations.
The July Harvard CAPS / Harris poll survey was conducted within the United States on July 26-28, 2024, among 2,196 registered voters by The Harris Poll and HarrisX. Follow the Harvard CAPS Harris Poll podcast at https://www.markpennpolls.com/ or on iHeart Radio, Apple Podcasts, Spotify, and other podcast platforms.
About The Harris Poll & HarrisX
The Harris Poll is a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. It works with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. One of the longest-running surveys in the U.S., The Harris Poll has tracked public opinion, motivations, and social sentiment since 1963, and is now part of Stagwell, the challenger holding company built to transform marketing.
HarrisX is a technology-driven market research and data analytics company that conducts multi-method research in the U.S. and over 40 countries around the world on behalf of Fortune 100 companies, public policy institutions, global leaders, NGOs and philanthropic organizations. HarrisX was the most accurate pollster of the 2020 U.S. presidential election.
About the Harvard Center for American Political Studies
The Center for American Political Studies (CAPS) is committed to and fosters the interdisciplinary study of U.S. politics. Governed by a group of political scientists, sociologists, historians, and economists within the Faculty of Arts and Sciences at Harvard University, CAPS drives discussion, research, public outreach, and pedagogy about all aspects of U.S. politics. CAPS encourages cutting-edge research using a variety of methodologies, including historical analysis, social surveys, and formal mathematical modeling, and it often cooperates with other Harvard centers to support research training and encourage cross-national research about the United States in comparative and global contexts. More information at https://caps.gov.harvard.edu/.
Contact:
Kara Gelber
pr@stagwellglobal.com
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Originally Released On
Media Contact
Kara Gelber
pr@stagwellglobal.com
Investor Relations Contact
Ben Allanson
ir@stagwellglobal.com
Tel Aviv-based digital agency and its SaaS platform InfluencerMarketing.AI joins Stagwell Marketing Cloud’s PRophet Comms Tech Suite
NEW YORK and TEL AVIV, Israel – July 24, 2024 – Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, has acquired Tel Aviv-based LEADERS, a world-class digital agency specializing in influencer marketing and social commerce and the development of InfluencerMarketing.AI (IMAI), a global influencer marketing SaaS platform. The company joins Stagwell Marketing Cloud’s PRophet Comms Tech Suite of AI-powered offerings purpose-built for modern PR and marketing professionals.
Founded by Eran Nizri and Yehonatan Arami in 2017, LEADERS and IMAI combine high-value digital and influencer marketing strategy with a cutting-edge, AI-powered SaaS influencer marketing platform. IMAI leverages advanced AI technologies to connect brands with over 300 million creators worldwide. The platform allows users from anywhere in the world to launch campaigns in just a few clicks, offering robust analytics, sales prediction models, and campaign management tools. Clients include Nespresso, Samsung, and Colgate-Palmolive; notable SaaS clients include Coca-Cola, Playtika, Estée Lauder, and Superdry. IMAI will supplement the bench of influencer marketing platforms currently in use by Stagwell’s agencies around the world, including existing tools in the PRophet Comms Tech Suite.
“We are excited to welcome LEADERS to the Stagwell family. This acquisition strengthens our Stagwell Marketing Cloud offering with cutting-edge AI solutions for influencer marketing while marking our first agency in Israel amid a substantial global expansion push from Stagwell this year,” said Mark Penn, Chairman and CEO, Stagwell. “Eran and his team share our vision of transforming marketing with technology, and we look forward to working together to deliver value to our clients across the globe.”
“Combining with Eran and the LEADERS team is a force multiplier for PRophet and Stagwell to expand global reach, integrate advanced AI technologies and leverage domain expertise around high performance digital and influencer marketing strategy for customers,” said Aaron Kwittken, Founder and CEO of SMC’s Comms Tech Suite.
“This acquisition marks a transformative milestone for LEADERS and InfluencerMarketing.AI,” added Nizri. “With Stagwell’s extensive network and resources, we are set to redefine the landscape of influencer marketing. Our goal is to become the world’s leading influencer and digital marketing powerhouse, delivering unparalleled value and innovation to our clients. We look forward to integrating our capabilities into Stagwell’s Comms Tech Unit and leading the industry into a new era of excellence.”
LEADERS’ and IMAI’s success is driven by a strong leadership team. Eran Nizri will continue to serve as Group CEO, reporting into Aaron Kwittken, Founder and CEO of Stagwell Marketing Cloud’s PRophet Comms Tech Suite. Itamar Gonsherovitz will continue to spearhead LEADERS’ digital agency operations as CEO. Yehonatan Arami, will continue to lead business development, expanding the company’s reach within the Stagwell network.
The acquisition comes as Stagwell expands its global footprint and invests further in AI-enabled solutions at the forefront of digital marketing. LEADERS is Stagwell’s seventh acquisition of 2024, following Team Epiphany (U.S.), Sidekick (U.K.), What’s Next Partners (France), PROS (Brazil), Business Traveller (Global), and BERA (U.S.).
About Stagwell Marketing Cloud
Stagwell Marketing Cloud (SMC) is a suite of data-driven SaaS solutions built for the modern marketer. Born out of Stagwell’s (NASDAQ: STGW) network of award-winning marketing agencies, SMC empowers marketers to drive business and brand impact by giving them intuitive tools equipped with proprietary, actionable data. SMC’s portfolio of solutions powers market research, communications, and media for brands worldwide by leveraging technology such as generative and predictive artificial intelligence, machine learning, augmented reality, and more. Get your head in the cloud at www.stagwellmarketingcloud.com.
About PRophet
Founded in 2020 by PR industry leader Aaron Kwittken, PRophet is an award-winning suite of essential, AI-powered Comms Tech tools purpose-built to empower modern communicators to perform more efficiently by quickly uncovering and authentically engaging with high-authority journalists and leading influencers. PRophet was awarded PRovoke Media’s Innovation SABRE in 2023 and 2024, a 2024 Webby Award, and was included in PR News’ 2024 Tech Hotlist. The all-in-one platform offers three core solutions: PRophet Earn creates and tests “mediable” PR content to predict earned media interest and sentiment. PRophet Influence combines vertical AI, analytics, discovery and tracking technologies to inform and manage influencer marketing campaigns. PRophet Monitor delivers real-time, earned and social media monitoring, reporting and analytics to alert teams of emerging trends, threats, brand mentions, and opportunities for real-time response. PRophet is part of the Stagwell Marketing Cloud (SMC), a suite of data-driven SaaS solutions built for the modern marketer. Visit prprophet.ai to learn more.
About LEADERS
Established in 2017, LEADERS is a digital agency specializing in influencer marketing. With a focus on performance and sales, LEADERS provides comprehensive services that harness the power of influencer marketing and social media.
About InfluencerMarketing.AI
Established in 2020, InfluencerMarketing.AI is a SaaS influencer marketing platform that connects brands with a vast network of influencers. Utilizing advanced AI and machine learning technologies, InfluencerMarketing.AI offers robust analytics, sales prediction models, and management tools to optimize influencer marketing campaigns, focusing on e-commerce brands to track conversions and ROI.
Contacts:
Kara Gelber
Stagwell
pr@stagwellglobal.com
Stephanie Hernandez
PRophet Comms Tech
v-stephanie.hernandez@prprophet.ai
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ABOUT THE AGENCIES BEHIND THE WORK
Goodstuff is the UK’s leading media planning and buying agency. Our combination of entrepreneurial ownership, a comms planning heritage and an unrestrained, transparent trading approach gives us the ability to deliver inventive media solutions that no one else can.
Assembly Global is a modern agency delivering a market-leading global omnichannel media offering, powered by data, technology and business consulting solutions to find the change that fuels growth for the best brands in the world.
Frontiers in Focus
Want to explore more of the frontiers of marketing? View more of our work on the cutting edge of AI and immersive brand experiences here.
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With the constant rise in the cost of living, people are pinching pennies and struggling to find ways to sustainably meet their personal demands. But what if you didn’t have to decide between saving money and helping the environment?
Goodstuff and Assembly Global partnered with OVO Energy, the UK’s second largest energy supplier, to encourage users to shift their energy use out of peak energy times. Powered by a proprietary green bidding technology built by Assembly and Goodstuff, the “Greener Grid,” serves ads in greener moments, letting passerby’s know when to cut carbon emissions and contribute to a better energy system.
Our Approach to Transformation
To better understand when to “plug in,” Greener Grid, a dynamic out-of-home campaign, displays the perfect opportunities to engage in sustainable moments and reduce carbon impact. Powered by generative AI and real-time API data from the National Grid, the campaign rewards customers for shifting energy usage out of peak energy times (4-7pm, weekdays), to times when the grid is greener, cleaner and powered by renewable energy. Sustainable messaging — “If you’re seeing this, it’s a greener time to use energy” — only appears when the grid is running on renewable energy, letting users know now’s the time to make a greener decision.
Through Assembly and Goodstuff’s AI-powered STAGE technology, we created a custom algorithm to fuel programmatic buying and automatically bid when the grid is greener, updated every 30 minutes, with more spend made available when the grid is at its greenest. Millions of energy choices are made every single day, and OVO Energy Forecast empowers customers to make those choices, leveraging data and technology to help them use less energy.
Our Impact
The industry-first digital billboards empower “greener moments” on a seemingly ordinary platform in a uniquely creative way. OVO’s ads were featured on more than 2,600 screens across the UK, from digital six-sheets to large formats across roadside, rail, and shopping centers, as part of the brands broader Power Move campaign.
- Nearly 17,000 people signed up to OVO’s Power Move during the two-month campaign period, bringing a 3x increase in traffic to the product page.
- As for the planet, 681,521 kWh of electricity was shifted, which is enough to power 252 houses for an entire year.
- 1 metric tonnes of carbon were avoided.
Wondering where to begin with AI implementation in your organization?
Email Beth Sidhu, Chief Brand and Communications Officer at Stagwell, to discuss how we can support your organization’s digital goals.
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“Room for Everyone” from Mastercard with Assembly as technology partner wins the Grand Prix for Creative Data
NEW YORK, June 24, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, celebrates its agencies 72andSunny, Assembly, and Forsman & Bodenfors, which took home top honors at the Cannes Lions International Festival of Creativity, the largest gathering in the creative marketing community. Collectively, Stagwell’s agencies and its global affiliate partner Buentipo Anchor captured 1 Grand Prix, 2 Gold, 2 Silver, and 10 Bronze Lions along with over 40 shortlists for other agencies including Activista, Anomaly, Colle McVoy, Doner, GALE, HUNTER, KWT Global, and Unreasonable Studios.
Stagwell congratulates Mastercard on winning the Grand Prix for Creative Data in partnership with Assembly, formerly Brand New Galaxy, and McCann Poland for the “Room for Everyone” initiative. Assembly’s digital commerce unit, as Mastercard’s technology partner, created the UI/UX, managed development, and supplied analytics for the campaign’s core tool WhereToStart.com, which helps Ukranian entrepreneurs find the best location to run their businesses, based on data that reveals where the greatest chance of success lies.
“While SPORT BEACH captivated attendees at Cannes Lions, our agencies captivated the juries. I’m proud to celebrate our agencies’ strong showing at Cannes, marked by our first Grand Prix since 2019,” said Mark Penn, Chairman and CEO, Stagwell. “The awarded work exemplifies our core strengths in technology-led marketing and helping brands gain ground with innovative approaches to earned influence. We thank our clients for their enduring trust in our agencies and their collaboration in pushing the frontiers of creativity and technology.”
Cannes awarded Lions to:
- “Anthem“ from Diablo IV (Blizzard Entertainment) and 72andSunny, which won a Bronze Entertainment Lion for Gaming.
- “Heart Surgeon’s Cookbook“ from Getinge and Forsman & Bodenfors, which won a Bronze Pharma Lion.
- “Imagine with Petacos” for Poker Beer from Buentipo Anchor, a Stagwell global affiliate network partner, which won one Silver Lion in Design and four Bronze Lions in Brand Experience & Activation, Design, Direct, and Outdoor.
- “Room for Everyone“ for Mastercard by McCann Poland with Assembly as technology partner, which won 1 Grand Prix for Creative Data, 2 Gold Lions in Creative Strategy and Direct, 1 Silver Creative B2B Lion, and 1 Bronze Creative Effectiveness Lion.
- “The Table Read“ for NFL from 72andSunny, which won 2 Bronze Lions in Entertainment for Sport and Social & Influencer.
Visit Stagwell’s site to view the winning work.
About Stagwell
Stagwell (NASDAQ: STGW) 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.
CONTACT:
Sarah Arvizo
pr@stagwellglobal.com
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New Survey by Stagwell (STGW)’s The Harris Poll Reveals Urgent Concerns Regarding Access and Quality of Maternal Healthcare in the U.S.
NEW YORK, June 21, 2024 /PRNewswire/ — The Harris Poll, a Stagwell Agency, recently released its second annual State of Maternal Health Report, highlighting alarming challenges around maternal healthcare in the United States. With the 2nd anniversary of the Supreme Court’s Dobbs decision overturning Roe v. Wade approaching, the survey results are even more striking – revealing significant disparities in the care pregnant women receive and their experiences with the healthcare system.
The survey, conducted online in April of 2024 among more than 1,000 U.S. women aged 18+, identified that a worrying proportion of women believe they must fight to receive the medical care they need, with more than half of women (53%) agreeing with this sentiment. Furthermore, roughly 2 in 5 women who are pregnant or have been pregnant (39%) say they experienced challenges to accessing care during pregnancy and childbirth. Access to care issues appear even more pronounced among younger women aged 18-34 (who are most likely to have recently experienced pregnancy or to be currently pregnant), women residing in the South, employed women, and mothers with children under 18.
Not being able to access such important care can negatively impact the entire pregnancy journey, from experiences to outcomes. Other findings from the survey surrounding care quality include:
- Only 42% of women who are currently pregnant/have ever been pregnant strongly feel they had access to the best possible care when they were pregnant—a significant drop from 50% in 2022.
- Younger women are particularly affected, with less than a third in the 18-34 age group (32%) strongly feeling they received the best possible care.
- More than 1 in 10 women who have been pregnant say their prenatal care (11%), labor care (12%), and delivery care (12%) were less than adequate. About 1 in 7 (15%) say the same of their recovery care, and a whopping 1 in 4 (24%) say the same of their postpartum care.
- About 1 in 7 women who’ve been pregnant (14%) did not feel heard by their provider during their prenatal care visits.
“The data clearly show that not only are many women feeling disregarded and underserved by our healthcare system during one of the most vulnerable times in their lives, but there is also an overwhelming demand for immediate improvements to ensure the safety and well-being of all mothers in America,” said Christina Lojek, Research Manager, The Harris Poll. “Furthermore, the results confirm that access to care and care quality issues are becoming more prevalent, and depending on which state you live in, you could be more at risk,” she stated.
Notably, two-thirds of women (67%) expressed concerns that the current political climate is exacerbating the risks associated with pregnancy and childbirth, and perhaps rightfully so. Women across the U.S. are demanding change – a vast majority (83%) state that more needs to be done to ensure safer pregnancy and birthing conditions in the U.S., with 45% strongly endorsing this view.
When thinking about access and quality of care in the current political environment, location matters. Looking at women who live in states with the most restrictive reproductive health policies*, they are significantly more likely than those who live in protective states to share negative experiences and sentiments surrounding pregnancy and childbirth care:
- Women in the most restrictive states are significantly more likely to feel like they have to fight to get the medical care they need than women who live in protective states (58% vs. 49%).
- Among women who are currently pregnant/have ever been pregnant:
- Those in the most restrictive states are significantly less likely to strongly feel they had access to the best possible care when pregnant than those who live in protective states (38% vs. 50%).
- Nearly half of those in the most restrictive states (48%) say they experienced challenges to accessing care during pregnancy and childbirth, compared to less than a third (31%) of those in protective states, and are about twice as likely to report insurance-related barriers (20% vs. 11%).
- Among women who have been pregnant:
- Those in the most restrictive states are more than twice as likely as those in protective states to cite less than adequate prenatal (17% vs. 7%) and labor (19% vs. 9%) care.
- Those in the most restrictive states are twice as likely to say they did not feel heard by their provider during prenatal care visits as women who live in protective states (20% vs. 9%), and more than 4 times as likely to strongly feel this way (9% vs. 2%).
In light of these findings, there is a clear call to action for healthcare providers, policymakers, and community leaders to take decisive measures towards reforming maternal healthcare practices and policies. Ensuring that all pregnant women have access to the highest standard of care needs to be an urgent public health priority.
*Definitions for states’ reproductive health policies were derived from Guttmacher Institute. Most restrictive states include Alabama, Arkansas, Florida, Idaho, Indiana, Kentucky, Louisiana, Mississippi, Missouri, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, and West Virginia. Protective states include Alaska, California, Colorado, Connecticut, District of Columbia, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Montana, New Jersey, New Mexico, New York, Oregon, Vermont, and Washington.
Survey Method:
The 2024 State of Maternal Health survey was conducted online in the U.S. by The Harris Poll April 2-4, 2024 among 2,061 U.S. adults ages 18+, among whom 1,116 are women, and 701 are women who are currently pregnant or have ever been pregnant. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact christina.lojek@harrispoll.com.
About The Harris Poll
The Harris Poll is a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. It works with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. One of the longest-running surveys in the U.S., The Harris Poll has tracked public opinion, motivations and social sentiment since 1963, and is now part of Stagwell, the challenger holding company built to transform marketing. To learn more, please visit www.theharrispoll.com
Contact:
Christina Lojek
christina.lojek@harrispoll.com
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Leaders from Ad Fontes Media, Bloomberg, Business Insider, CNN, The New York Times, Stagwell, The Trade Desk, The Washington Post, and Wall Street Journal
NEW YORK and CANNES, France, June 18, 2024 /PRNewswire/ — Stagwell’s (NASDAQ: STGW) Future of News series will continue with its next chapter at the Cannes Lions International Festival of Creativity, the world’s largest advertising, marketing, and creativity event.
Stagwell will convene two panels at Cannes Lions as it continues to encourage advertisers to reinvest in the news industry. The panels will continue the discussion around Stagwell’s groundbreaking News Advertising Study, a survey of 50,000 U.S. consumers which revealed ads placed in quality news sources adjacent to articles on provocative and polarizing topics had no negative impact on brand favorability, purchase intent among other brand health metrics to the companies featured in those ads.
The conversations include:
The Future of News: Why News Audiences Matter as Much as Sports Junkies
Wednesday, June 19 | 12:30 PM CEST
News is the future – and represents a unique and complementary platform for brands to drive business results. Advertisers, however, are increasingly reluctant to take advantage of advertising in news, largely due to concerns about appearing next to content that could be divisive or polarizing in some way. How are news media preparing for the next thirty-six months in light of this? A conversation with CEOs discussing the path forward and opportunities ahead for journalists, brands and advertisers featuring:
- Sara Fischer, Media Reporter, Axios
- Meredith Kopit-Levien, CEO, The New York Times
- Barbara Peng, CEO, Business Insider
- Mark Penn, Chairman and CEO, Stagwell
- Mark Thompson, CEO, CNN
The Business of News: The Opportunity for Brands and Quality Journalism
Wednesday, June 19 at 10:15 AM CEST
News has never been more important, yet there still remains a gap between consumers demand for quality journalism and advertisers’ willingness to include news as a critical component of their paid media strategy. How are the business leaders of news publications solving for this disconnect? What are advertisers missing out on by not leveraging news? A conversation with C-Suite leaders discussing immediate ways brands can engage with news and drive meaningful return featuring:
- Christine Cook, Global Chief Revenue Officer, Bloomberg Media
- Jed Dederick, Chief Revenue Officer, The Trade Desk
- Johanna Mayer Jones, Global Chief Advertising Officer, The Washington Post
- Vanessa Otero, CEO and Founder, Ad Fontes Media
- Joy Robins, Global Chief Advertising Officer, The New York Times
- Josh Stinchcomb, Global Chief Revenue Officer, Wall Street Journal | Barron’s Group
- Kara Swisher, Co-Founder of Recode & Code and Editor-at-Large at New York Magazine
“News is the future. A thriving free press is critical to democracy – and a crucial platform for marketers seeking to reach critical audiences,” said Mark Penn, Chairman and CEO, Stagwell. “Our data shows, without a doubt, consumers understand the difference between news and advertising – and as an industry, it is time to reevaluate the current ‘brand safety’ standards.”
“The Stagwell Research is a game changer and it thoroughly debunks the primary reason that we’ve seen a significant increase in news avoidance by many advertisers in recent years,” observed Vanessa Otero, CEO and Founder of Ad Fontes Media.
To learn more about Stagwell’s Future of News Initiative, please reach out to Alexis.Williams@stagwellglobal.com.
To request a copy of the “News Advertising Study,” please visit https://www.stagwellglobal.com/future-of-news/.
About the Future of News Initiative
Stagwell’s ‘Future of News’ initiative is a transformative platform comprised of original research, groundbreaking events and thought leadership aimed at elevating driving the conversation around the importance of advertising in news. Stagwell, alongside its coalition of publishing and industry partners, have built this dynamic series to challenge the advertising industry to reinvest in news. Partners include: Ad Fontes Media, Axel Springer, Axios, Business Insider, Newsweek, POLITICO, The New York Times, The Trade Desk, The Wall Street Journal and The Washington Post. Together, the council will launch a transformative platform to challenge the advertising industry to reinvest in news.
About Stagwell
Stagwell (NASDAQ: STGW) 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:
Kara Gelber
pr@stagwellglobal.com
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Technology-first creative agency delivers historic results for Amazon Ads, Volvo Trucks and other top B2B clients.
NEW YORK, June 14, 2024 /PRNewswire/ — Code and Theory was named B2B Agency of the Year in the ANA B2 Awards. The ANA (Association of National Advertisers) annual award recognizes the agency that best “represents a diverse portfolio of expertise, and the effective implementation of business marketing solutions and thought leadership in the B2B marketing field.”
Code and Theory is leading the technological revolution in B2B. The agency’s balanced team (50% creatives and 50% engineers) ensures a multidisciplinary approach to each project, blending AI, communications, design and technology from start to finish. The agency grew steadfast in its B2B partnerships with Amazon Ads, Microsoft, JPMorgan Chase, Clover, Thomson Reuters and ETS.
Code and Theory has also recently been recognized as:
- Ad Age 2024 Business Transformation Agency of the Year
- Fast Company Design Agency of the Year Honoree
- Creative Agency of the Year at the Ace Awards
- B2B Campaign of the Year at The Drum Awards for Amazon Ads
- Gold and Bronze winners at New York Festivals for innovation, technology and data storytelling for its creation of the Big Board for NBC Universal
Plus, Code and Theory received an additional seven B2 awards for its work with Amazon Ads and Volvo Trucks.
Code and Theory tailors technology-first, creative solutions, reducing complexity and accelerating long-term growth — all at speed and scale. In the last year, the agency delivered groundbreaking B2B solutions and impact:
- +26% in Amazon’s global ad revenues in Q3, totaling more than $12 billion (part of a larger Amazon partnership since 2021)
- +63% in qualified leads on Morgan Stanley at Work after a complete website redesign (part of a five-year partnership)
- +28% in engagement YoY on Microsoft’s Windows Commercial experience as part of an ongoing strategy, design and marketing partnership
- +350% in visitors at launch for Volvo Trucks’ new website, part of Volvo’s biggest launch in 25 years, anchored by a redesigned web experience and digital reveal
- Shaped and launched Thomson Reuters’ first global rebrand in 16 years
ANA CEO Bob Liodice says, “The ANA Masters of B2B Marketing is a celebration of the very best in B2B. Code and Theory proved that by infusing technology-first thinking into everything they create for their clients was worthy of this year’s top honors. Congratulations to them, their clients and all of this year’s winners.”
Dan Gardner, co-founder and executive chairman of Code and Theory says: “Too often, B2B marketers are focused on solving yesterday’s problems. We’re dedicated to helping solve our clients’ biggest challenges with an eye on the future and focusing on long-term value. ”
Michael Treff, Code and Theory CEO, says: “This recognition is a huge testament to our outstanding clients and endlessly curious teams at Code and Theory who are relentless about driving impact for our clients. We are honored to be recognized, and consider our true success to be the success of our clients as they navigate the many seismic shifts happening in their businesses.”
About Code and Theory Network
Code and Theory Network is the only network with a balance of 50% creative and 50% engineers at scale. The technology-first group within Stagwell Group is built to partner with businesses to navigate the complexity of changing consumer behaviors, emerging technologies and AI. With a global footprint and the capabilities to work across the entire consumer journey, we crave the hardest problems to solve. The network includes the flagship agency Code and Theory as well as Kettle, Mediacurrent, Rhythm and Truelogic. Code and Theory clients include Amazon, JPMorgan Chase, Microsoft, MSNBC, NFL, Pfizer and Zappos. For more, visit codeandtheory.com
About Stagwell
Stagwell (NASDAQ: STGW) 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.
Contact:
Kenneth Hein
kenneth.hein@codeandtheory.com
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