Originally Released On
Media Contact
Canadian Press:
Nina Kalos
kalos@veritasinc.com
U.S. Press:
Sarah Arvizo
pr@stagwellglobal.com
The newly augmented Quebec offering will operate as LuxineVeritas
MONTREAL and TORONTO, May 2, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, has acquired Montreal-based Luxine Relations Publiques, a full-service PR and Influencer Marketing agency. Luxine joins Veritas Communications (Veritas) as the next step in its ambitious growth strategy to focus on local markets across Canada. Caroline Dubé, Luxine’s industry-leading founder, has been appointed Senior Vice President & Head of LuxineVeritas, and joins the Veritas Executive Leadership Team.
Launched 12 years ago, Luxine is a corporate and consumer boutique PR agency in Montreal with A-List clients and the strategic and creative heft of larger, national agencies. Veritas first opened its Montreal office a decade ago, however the opportunities in Quebec have far surpassed the size of the existing footprint. Clients and brands have recognized the need for made-in-Quebec strategies for Quebec-based audiences and the acquisition of Luxine will bolster the agency’s ability to meet that demand.
“PR and influencer marketing capabilities, including our self-service tools like PRophet in the Stagwell Marketing Cloud, have been essential to our success in the Canadian market to date,” said Mark Penn, chairman and CEO of Stagwell. “Montreal is an important geography because of its deep technology roots and leading-edge creative talent, so we didn’t hesitate when Webster brought Luxine forward as an acquisition.”
“Luxine and Dubé bring Stagwell unparalleled market insight and a singular ability to break through and influence outcomes. Quebec consumers are loyal and vocal and the market demands authentically local leaders that live and breathe Quebec,” says Krista Webster, CEO of Veritas, and Meat & Produce. “Dubé will be a key voice at the executive leadership table for the agency overall, not just Quebec.”
In addition to Dubé, her talented team of seasoned PR, influencer and social practitioners have joined the existing Veritas team in Montreal and are already making an enormous impact for national clients. The Veritas Montreal team has moved into Luxine’s premium office space, and the agency will operate under the banner LuxineVeritas, recognizing Luxine’s roots in Quebec and history of excellence in the market.
“I was drawn to Veritas because of Webster’s commitment to ensuring Quebec plays an equal voice in how the agency grows and serves clients. Nurturing Quebec-based clients and delivering our personalized approach to media will continue to be a priority as we enter this next chapter,” said Dubé.
About Veritas Communications
Veritas Communications is the most creatively awarded Canadian PR agency globally. Veritas Communications and LuxineVeritas walk the line between public relations and marketing to inspire positive word-of-mouth and drive brand preference across sectors and industries. With offices in Toronto and Montreal and satellite partners across the country, Veritas was the first to Canada with integrated social and influencer offerings. We continue to break new ground by combining advanced technology with the latest in modern marketing, media trends, and sector expertise to help brands reach their goals.
About Stagwell Inc.
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
Contacts:
Canadian Press:
Nina Kalos
kalos@veritasinc.com
U.S. Press:
Sarah Arvizo
pr@stagwellglobal.com
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Originally Released On
Revenue Growth of 8%, Led by 13% Growth from Performance Media & Data
Net Loss Attributable to Stagwell Inc. Common Shareholders of $1.3 million
Adjusted EBITDA of $90 million, An Increase of 25% Year-Over-Year
Adjusted EBITDA Margin of 17%, An Increase of 320 Basis Points Year-Over-Year
EPS of $(0.01); Adjusted EPS of $0.16, An Increase of 14% Year-Over-Year
Net New Business of $66 million in Q1; LTM Net New Business of $284 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, May 1, 2024 /PRNewswire/ — (NASDAQ: STGW) – Stagwell Inc. (“Stagwell”) today announced financial results for the three months ended March 31, 2024.
FIRST QUARTER RESULTS:
- Q1 Revenue of $670 million, an increase of 8% versus the prior year period.
- Q1 Net Loss attributable to Stagwell Inc. Common Shareholders of $1.3 million versus Income of $1.4 million in the prior year period.
- Q1 Adjusted EBITDA of $90 million, an increase of 25% versus the prior year period.
- Q1 Adjusted EBITDA Margin of 17% on net revenue, an improvement of 320 basis points versus the prior year period.
- Q1 Earnings Per Share Attributable to Stagwell Inc. Common Shareholders of $(0.01) versus $0.00 in the prior year period.
- Q1 Adjusted Earnings Per Share attributable to Stagwell Inc. Common Shareholders of $0.16 versus $0.14 in the prior year period.
- Net new business wins of $66 million in the first quarter, last twelve-month net new business wins of $284 million.
- Q1 Net Revenue of $532 million, an increase of 2% versus the prior year period.
- Q1 Organic Net Revenue increased 2% versus the prior year period, led by 54% increase in Advocacy.
Mark Penn, Chairman and CEO, said, “We are on target for 2024 with a return to growth and strong margin expansion led by the double-digit growth of the Performance Media & Data Capability. We see tailwinds of record new business, growth in advertising generally, and a strengthened market position given growing industry accolades for our work.”
“We continue to invest in technology with the Stagwell Marketing Cloud setting the pace for innovation and we believe that we will see growth in AI-related digital transformation assignments building in the second half of the year along with a strong advocacy season. At the same time, we are successfully expanding our global presence, and we are seeing that pay dividends with enhanced growth.”
Frank Lanuto, Chief Financial Officer, commented: “Revenue in Q1 grew by 8% year-over-year to $670 million. Cost actions taken in 2023 contributed to 25% growth in adjusted EBITDA or $90 million, representing a 17% adjusted EBITDA margin, an improvement of 320 basis points over the prior year. We are well positioned to achieve our 2024 targets, as we continue to focus on efficiency, especially through the implementation of AI on our shared services platform.”
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 Wednesday, May 1, 2024, at 8:30 a.m. (ET) to discuss results for Stagwell Inc. for the three months ended March 31, 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
IR@stagwellglobal.com
For Press:
Beth Sidhu
PR@stagwellglobal.com
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 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,” “estimate,” “expect,” “focus,” “forecast,” “foresee,” “future,” “goal,” “guidance,” “in development,” “intend,” “likely,” “look,” “maintain,” “may,” “ongoing,” “opportunity,” “outlook,” “plan,” “possible,” “potential,” “predict,” “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;
- and 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, including the successful completion and integration of acquisitions that complement and expand the Company’s business capabilities;
- the Company’s ability to develop products incorporating new technologies, including augmented reality, artificial intelligence, and virtual reality, and realize benefits from such products;
- 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 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;
- 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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Originally Released On
Media Contact
IR Contact
Ben Allanson
ir@stagwellglobal.com
Media Contact:
Sarah Arvizo
pr@stagwellglobal.com
NEW YORK, April 29, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW) released its 2023 Annual Report, highlighting investments in artificial intelligence, immersive experiences for brands, strategic acquisitions, and an expanding global footprint that drove company visibility and market share. Download the full report here.
“Despite a challenging year for marketing services and digital transformation – accentuated by our client mix – Stagwell grew share with some of our largest customers in 2023, took efficient steps in managing our costs and invested in digital innovation to position itself for the future of marketing,” noted Chairman and CEO Mark Penn. “We are well-poised to deliver another year of path-breaking work for clients; and we believe a mix of 2024 tailwinds and new centralized initiatives will return us to industry-leading organic growth and margins, while keeping us at the forefront of change.”
2023 Highlights:
Penn’s annual shareholder letter discusses Stagwell’s 2023 performance driven by:
- Investment in digital innovation: Underscored by growth in its Stagwell Marketing Cloud Group, a proprietary suite of data-driven SaaS products, which experienced 31% net revenue growth in 2023; partnerships with Google Cloud and Oracle to develop marketing-focused AI solutions; continuing product development in AI and other emerging technologies across agencies; and acquisitions of digital leaders.
- Record new business pipeline driven by integrated efforts: Stagwell experienced record net new business in excess of $270 million with several multi-agency accounts; grew its Risk & Reputation Unit, a coalition of bi-partisan, financial communications and research agencies advising corporations on polarization; and successfully launched SPORT BEACH, supported by more than 20 Stagwell agencies.
- Global growth: International net revenue increased by 13% year-over-year in FY23, led by EMEA, as Stagwell continued to expand its regional footprint with new hubs in São Paulo and London, and a growing network of affiliate partnerships in the Philippines, Vietnam, and Brazil.
- Strategic acquisitions: Stagwell acquired four companies in 2023 to broaden its digital capabilities and extend its global footprint: In the Company of Huskies (now Forsman & Bodenfors Dublin), Tinsel Experiential Design, Left Field Labs, and Movers+Shakers.
Frontiers: Stagwell Spotlights AI & Immersive Capabilities Across Agencies
In tandem with its Annual Report, Stagwell released a showcase of impactful technology work from its agencies and products Code and Theory, Left Field Labs, GALE, Colle McVoy, and ARound in AI and immersive experiences for brands, including award-winning client projects for Google, Tipico, La-Z-Boy, Bomb Pop and Cleveland Cavaliers.
“We believe we are evolving into the marketing frontiers company – the partner of choice for global businesses seeking to transform digital consumer experiences to fuel better business outcomes,” said Penn.
The case studies – along with a look at internal applications of AI across Stagwell’s firms – can be viewed here.
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.
Forward-Looking Statements
This press release contains estimates, projections, objectives, expected results and other “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this document that are not historical facts, including statements about the Company’s beliefs and expectations, future financial performance and future prospects (including the Company’s anticipated return to growth), business and industry trends, anticipated benefits of the Company’s strategies, including with respect to artificial intelligence, potential and completed acquisitions and the anticipated benefits thereof, constitute forward-looking statements. Forward-looking statements are based on current assumptions that are subject to risks and uncertainties that may cause actual results to differ materially from the forward-looking statements, including but not limited to the risks and uncertainties discussed in Item 1A–Risk Factors and the section entitled “Forward-looking Statements” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. 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 any of them in light of new information or future events, if any.
IR Contact
Ben Allanson
ir@stagwellglobal.com
Media Contact:
Sarah Arvizo
pr@stagwellglobal.com
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58% OF VOTERS BELIEVE THE U.S. LACKS LEADERSHIP TO HANDLE WORLD AFFAIRS BUT MOST WANT FOCUS ON DOMESTIC ISSUES
ISRAEL SUPPORT REMAINS UNCHANGED WHILE UNIVERSITIES UNDER CLOUD
NEW YORK and CAMBRIDGE, Mass., April 29, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW) today released the results of the April Harvard CAPS / Harris poll, a monthly collaboration between the Center for American Political Studies at Harvard (CAPS) and the Harris Poll and HarrisX.
President Joe Biden’s overall approval rating is steady at 44%, while Donald Trump leads the horse race by 4 points. The poll also covers public opinion on foreign policy and the Israel-Hamas war. Download key results here.
“American voters are fundamentally utilitarian,” said Mark Penn, Co-Director of the Harvard CAPS / Harris poll and Stagwell Chairman and CEO. “Despite legal and age issues, voters care most about how well Biden and Trump performed as president and on that measure, right now they favor Trump.”
ELECTION FUNDAMENTALS SEE LITTLE CHANGE BUT TRUMP LEAD WIDENS
- Immigration and inflation continue to be voters’ top concerns, tied at 35% each this month.
- 55% of voters believe Trump has committed crimes for which he should be convicted, but 55% say separately that they approve of the job he did as president.
- 44% job approval for Biden shows 11-point deficit in job approval compared to Trump at 55%.
AMERICANS PREFER FOCUS ON DOMESTIC RATHER THAN FOREIGN AFFAIRS
- 59% of voters say this is a time in world affairs that enables the U.S. to focus primarily on domestic issues, rather than spend more on military and foreign affairs (Democrats: 58%; Republicans: 57%; Independents: 63%).
- 58% say the U.S. does not have the leadership necessary to handle world affairs now.
- 56% support sending $26 billion in aid to Israel; 49% support sending $8 billion in aid to the Indo-Pacific, including Taiwan; and 48% support sending $61 billion in aid to Ukraine.
GENERATIONAL SCHISM ON ISRAEL REMAINS SALIENT DESPITE GENERAL SUPPORT UNCHANGED
- 80% of voters say they support Israel over Hamas (ages 18-24 57% to 43%)
- 71% say the crisis in Gaza has been created by Hamas, not Israel.
- 78% say Hamas should be removed from running Gaza.
- 72% of voters believe Israel should move forward with an operation in Rafah in order to finish the war against Hamas, while doing its best to avoid civilian casualties (ages 18-24: 57%; ages 65+: 84%).
- 68% oppose a ceasefire unless it means Hamas would be allowed to continue holding hostages and running Gaza (ages 18-24: 66% still support). 70% support a “permanent ceasefire” but that support is contingent on hostage release and end of Hamas rule.
- In the context of the recent Iran attacks against Israel, 80% believe Iran must be stopped from having nuclear weapons (ages 18-24: 43%; ages 65+: 96%).
M0ST AMERICANS DISAPPROVE OF UNIVERSITIES AMID CAMPUS PROTESTS
- 80% of voters believe students and professors who call for violence towards Jews should be suspended (ages 18-24: 59%; ages 65+: 92%).
- 64% believe the leaders of private higher education institutions are not doing enough to prevent antisemitism (ages 18-24: 37%; ages 65+: 80%).
- 64% believe there is a problem with what institutions of higher learning are teaching students today (ages 18-24: 47%; ages 65+: 74%).
The April Harvard CAPS / Harris poll survey was conducted online within the United States on April 24-25, 2024, among 1,961 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/.
Media Contact:
Sarah Arvizo
pr@stagwellglobal.com
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Meta to Showcase Meta Quest and Ray-Ban Meta; Diageo Returns with the Official Sport Beach Cocktail – the “Don Julio Paloma”; and More Partners Sign on to Deliver Premier Brand Experiences at Sport Beach
NEW YORK and CANNES, France, April 24, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, announced today a new roster of athletes and brand partners confirmed to activate at Sport Beach 2024 (June 17-20), the flagship sports business destination at the Cannes Lions International Festival of Creativity (Cannes Lions).
Quarterback for the Cincinnati Bengals Joe Burrow; former Brazilian soccer player Roberto Carlos; Cleveland Browns defensive end Myles Garrett; professional climber Alex Honnold; former NFL wide receiver Chad “OchoCinco’ Johnson; American snowboarder and 2-time Olympic Gold Medalist Chloe Kim; tennis coach Patrick Mouratoglou; former American football player and sports television personality Shannon Sharpe; 7-time World Champion skier, philanthropist, and businesswoman Mikaela Shiffrin; and American college basketball player JuJu Watkins will participate in featured programming and appearances.
“Now more than ever, athletes are pushing the boundaries of what’s possible in sport – and the smartest brands are there to meet them,” said Chief Brand and Communications Officer Beth Sidhu. “We look forward to bringing our athletes and brand partners together in year two of Sport Beach, where they’ll once again redefine what it means to build meaningful connections that drive business, fandom, and culture.”
Athletes
- Joe Burrow (football) – A star quarterback for the Cincinnati Bengals, Joe has solidified himself as one of the NFL’s best. Following a successful career at LSU, which included a 2019 National Championship, Joe was awarded the prestigious Heisman Trophy. Entering the NFL as the #1 overall pick in the 2020 Draft, Joe has gone on to set numerous franchise records in his first four seasons with the Bengals, and helped lead the team to an appearance in the 2022 Super Bowl. He was also named the NFL’s Comeback Player of the Year that season. Off the field, Joe is passionate about giving back to the communities that have fostered his growth, and launched The Joe Burrow Foundation, which focuses on addressing the issues of food insecurity and childhood mental health.
- Roberto Carlos (soccer) – Widely regarded as the greatest left-back of all time, Roberto Carlos, across the course of his 25 year career, recorded 3 Champions League and 4 La Liga triumphs alongside the greatest prize in football; the World Cup for his national side, Brasil. After a successful spell with Brazilian side Palmeiras, Roberto left for Europe where he played in Spain, Turkey and Russia.
- Myles Garrett (football) – Myles is an American football defensive end for the Cleveland Browns and the reigning NFL Defensive Player of the Year. He played college football at Texas A&M, where he received unanimous All-American honors in 2016, and was selected first overall by the Browns in the 2017 NFL draft. Garrett has been named to five Pro Bowls, three first-team All-Pros, and is the reigning NFL Defensive Player of the Year.
- Alex Honnold (climbing) – Alex is widely recognized as the most accomplished and daring rock climber of his generation, gaining national attention for his free solo ascent of El Capitan in Yosemite National Park, immortalized in the Academy Award®-winning documentary Free Solo. This monumental feat solidified his status as a superstar of the climbing community. Beyond climbing, Honnold is known for his humility, environmental advocacy, and philanthropy aimed at preserving climbing areas and promoting access to the outdoors. Whether conquering towering cliffs or advocating for conservation causes, he continues to push the boundaries of human potential, inspiring others to reach new heights in their own lives.
- Chad “OchoCinco” Johnson (football) – Famously known for changing his last name to Ochocinco in 2006, Chad Johnson was drafted 36th overall in the 2001 NFL draft. Fans worldwide quickly embraced his vibrant personality and playmaking ability, making him one of the most prominent figures in sports. Throughout his 11 year NFL career, he earned six Pro-Bowl selections, three All-Pro honors and was inducted into the Cincinnati Bengals’ Ring of Honor in 2023. On the heels of his playing career, Chad transitioned into entertainment, where his compelling storytelling ability captivated audiences globally. He served as a lead analyst for Fox Sports during the 2022 World Cup and co-hosted Inside the NFL on CW this past NFL season. In addition, he partnered with Shannon Sharpe to create Nightcap, a sports podcast that perfectly encapsulates culture. Nightcap recently won a Webby Award for the Best Sports Podcast.
- Chloe Kim (snowboarding) – The 2022 Winter Olympics cemented Chloe as the female face of both snowboarding and action sports when she became the first female in history to win back-to-back Olympic Gold Medals in halfpipe snowboarding. Most recently, Chloe has continued to break records including earning her seventh gold medal at the 2024 X Games where she became the first woman to land a 1260 in a competition. Chloe has been featured on Forbes 30 under 30 list, TIME’s 100 list, and TIME’s 30 Most Influential Teens list (three years in a row), as well as the cover of Time Magazine, Shape, Sports Illustrated, and ESPN Magazine. Chloe cofounded Togethxr, a media platform geared towards elevating and amplifying the voices and stories of female athletes and now serves on the President’s Council on Sports, Fitness & Nutrition.
- Patrick Mouratoglou (tennis) – Legendary tennis coach of Serena Williams and current coach of Danish star Holger Rune, Patrick is widely recognized as one of the most influential and respected coaches of the 21st century. With 10 Grand Slams titles, 4 Coach of the Year awards, 39 coaching singles titles, 2 Olympic medals, and over 40 players who have reached the Top 100 under his instruction, Patrick knows how to succeed. Voted into the Top 50 most influential people of France by Vanity Fair, his hard work and passion speak for itself.
- Shannon Sharpe (football and media) – Former American football player and sports television personality known as one of the greatest tight ends to ever play the game. After retiring from football, Shannon transitioned to a successful career in sports broadcasting and in 2021 co-founded the award-winning Cognac brand Le Portier.
- Mikaela Shiffrin (skiing) – A native of Edwards, Colo., Mikaela is the greatest skier of all time. Despite being only 28 years old, Mikaela holds the most World Cup wins (97) of any male or female alpine skier in history. Mikaela was named one of Time Magazine’s 100 Most Influential People in the World for her dominance in her sport, her philanthropic work with organizations such as Protect Our Winters, and her authentic connection with her audience when it comes to topics like mental health, the importance of family, and her openness about what it takes to be at the top of one’s craft.
- JuJu Watkins (basketball) – JuJu is an American college basketball player for the USC Trojans. She graduated from Sierra Canyon School in her hometown of Los Angeles, where she was ranked as the number one recruit in her class by ESPN and earned national high school player of the year honors. The All-American shooting guard led her team to their first NCAA Elite Eight in 30 year and has scored the most points as a freshman in NCAA history.
Brand Partners
- Business Insider, a new Sport Beach partner and publisher of business, technology and innovation journalism, will bring its CMO Insider Breakfast to Sport Beach on June 18 to engage chief marketing officers in dynamic discussions exploring how brands leverage experiences and cultural moments to build authentic connections.
- The Chicago Bulls is a global sports and entertainment organization that is part of the National Basketball Association. Founded in 1966, the Bulls have won six NBA championships and become an iconic brand with a worldwide fan base, including more than 38 million followers across multiple social media platforms. The Bulls take pride in championing inclusivity within the workplace and have a longstanding history of giving back to underserved communities across Chicago.
- Diageo, a global leader in premium drinks with over 200 brands and sales in nearly 180 countries, returns as a premier partner of Sport Beach. The “Don Julio Paloma” will be the official cocktail of Sport Beach 2024 and be served throughout the week. Sport Beach attendees will be able to sip on this refreshing cocktail of tequila, grapefruit soda, lime, and a hint of sweetness as they soak up the sun and enjoy the ultimate beach vibes.
- Epidemic Sound has transformed the soundtracking experience for global brands and professional creators, with an expansive catalog of world-class music and sound effects that’s seen and heard over 2.5 billion times a day around the globe. Providing a direct license model that comes with all rights included and next-generation soundtracking tools, Epidemic Sound empowers creators to unlock more feeling in everything they create and share their stories with the world. Epidemic Sound continuously enriches its world-class catalog of music by teaming up with artists, composers, and producers to create tracks spanning all genres, while supporting them financially and creatively.
- La Fete debuted in 2019 as a fresh, modern, and inclusive wine brand geared toward drinkers of all backgrounds. In 2021, the company introduced a limited-release white wine – La Fête du Blanc – which became a permanent addition to the portfolio in 2022, and in 2023, La Fête du Rouge was introduced. According to Circana, La Fête du Rosé was the fastest-growing luxury imported rosé label of 2021 and is now the #3 luxury imported rosé brand in the US. In January 2022, 12-time NBA All-Star Chris Paul (CP3) became an equity partner in the company. Since its inception, the company has donated a portion of the proceeds from every bottle sold to various programs that send underrepresented youth on unique travel experiences and organizations focused on creating opportunities for the BIPOC community in the wine and spirits industry. All La Fête Wines are produced in partnership with the prestigious winemakers of Château Saint-Maur, one of only 18 Cru Classé estates in Provence, situated in the iconic Gulf of St. Tropez. For more information or to purchase online, please visit LaFeteWine.com.
- LoopMe, the technology company that uses artificial intelligence (AI) to improve brand advertising performance and outcomes, joins Sport Beach as a new partner. LoopMe was the first to apply AI to brand advertising and its Intelligent Marketplace, finding solutions to industry challenges that haven’t previously been solved. With consumer insights and AI at its core, LoopMe makes brand advertising better, outperforming industry benchmarks for leading global brands.
- Meta joins Sport Beach for the first year to provide the ultimate sports experience. Attendees will step into a transformed space with Meta Quest to play Pickleball with a friend or sit courtside at an NBA game. During Open Play, guests will be able to try on the next-gen smart glasses for Ray-Ban Meta and capture life’s best moments to share on Instagram and Facebook. Learn more at www.meta.com and get ready to play on Sport Beach.
- Octillion, now a Premion and Tegna company, and founded in 2019 by Gabe and Tina Greenberg, was purpose built to support streaming advertising for local and mid-market advertisers. As a Sport Beach partner, Octillion will highlight their patent pending technology to insert into live sports at the channel level. Octillion is a platform as a service company (PaaS) powering the planning, buying, attribution and optimization tools for local and mid-market advertisers and agencies utilizing their proprietary tech stack. As the first and only TAG/TrustNet certified transparent CTV/OTT solution for local advertisers, Octillion’s technology stack is founded on the principles of data and business ethics, and transparency powering the future of for local by local advertising for video, CTV, audio, digital, DOOH and more.
- Recess Pickleball will run the Sport Beach Pickleball tournament for the second year. Inspired by the childhood nostalgia of time spent on the playground, Recess Pickleball is a celebration of good old-fashioned fun. Launched in 2021 by childhood friends Maggie Brown and Grace Moore, Recess creates high-quality paddles, clothing and accessories that are built for play, in an array of aesthetic designs that are as approachable as pickleball itself. Backed by tennis stars Naomi Osaka and Nick Kyrgios, our mission is to bring that wholesome Recess feeling to people of all ages, encouraging them to take a break, have some fun, and play.
- Saucony, the ‘Original Running Brand’ and a division of Wolverine World Wide, Inc. (NYSE: WWW), is a leading global performance running brand that fuses innovation, style and culture. Widely recognized for award-winning technologies including PWRRUN™ PB, PWRRUN+™, and SPEEDROLL™, Saucony creates innovative technical and lifestyle footwear and apparel across Road, Trail and Originals. Founded in 1898, Saucony exists to inspire and enable people to live a better life through running culture, self-expression and their impact on the world. For more information, visit www.saucony.com.
For the full roster of leaders, innovators, and cultural influencers joining Sport Beach 2024, visit sportbeach.com.
To learn more about partnership opportunities on the ground at Sport Beach, reach out to cannescomms@stagwellglobal.com for more information. Sport Beach will be produced by TEAM in partnership with Cheerful Twentyfirst.
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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Originally Released On
Media Contact
For APAC
Germaine Ong
germaine.ong@stagwellglobal.com
For U.S.
Kara Gelber
pr@stagwellglobal.com
For Leverate Group
info@leverate.asia
This partnership significantly strengthens Stagwell’s reach in the Asia Pacific region as well as the network’s omnichannel media buying and activation capabilities. This addition also underscores the network’s accelerating commitment to growth across Asia, anchored by its regional offices in Singapore and Malaysia, and over 25 affiliate partners in Asia to date.
Amidst predictions that Indonesia is set to be one of the world’s top five economies by GDP in 2030 (per National Research Group), this partnership demonstrates Stagwell’s continued dedication to delivering scalable and seamless client solutions in this fast-growing, mobile-first market.
“As Southeast Asia’s largest economy, Indonesia presents abundant opportunities for global brands to grow with the rise of the urban Indonesian consumer, and for Indonesian brands to take share in the global market,” said Randy Duax, managing director, Asia-Pacific for Stagwell. “Partnering with Leverate positions Stagwell to comprehensively support our clients’ ambitions in this dynamic and diverse market, bringing best-in-class marketing capabilities and intricate understanding of Indonesia’s rich cultural make-up into our service set.”
Founded in 2015, Leverate Group is known for delivering bespoke strategies encompassing media, creativity, and technology. The agency’s clients include Allianz, Astra Group, BTN Bank, BRI Bank, Permata Bank, BMW, and Merries. Leverate Group will offer robust omnichannel media buying and activation capabilities to Stagwell’s global client base, extending the network’s Asia Pacific footprint of creative, media, and digital services.
“At Leverate Group, we have a track record of implementing successful campaigns infused with global knowledge, backed by data-driven insight. We aim not to just build our clients’ brands, but also to grow their businesses. We look forward to collaborating closely with Stagwell to help clients transform for a digital-driven economy,” said Marlina Lim, Chief Executive Officer for Leverate Group.
Stagwell’s Global Affiliate Program powers agile global solutions for clients, allowing Stagwell to partner with regional experts to scale marketing capabilities to new regions. Since the program’s inception, Stagwell has formed partnerships with nearly 80 affiliates across APAC, EMEA, LATAM and North America, extending Stagwell’s global operational reach to 98 countries.
About Stagwell
Stagwell (NASDAQ: STGW) is the network created to transform marketing. We deliver creative performance at scale for the world’s most ambitious brands, connecting culture-moving creativity with cutting-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our more than 13,000 experts in more than 34 countries are united under a single purpose: to generate effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
About Leverate Group
Leverate Group is an integrated and independent full-service agency rooted in data-driven insights and AI-powered martech expertise that continues to elevate passionate brands by integrating media solutions with meaningful and engaging creative. Leverate’s game changing vision is evidenced through its service offerings, client success stories, and industry recognition. Winner of the Agency of the Year Award 2019, Gold winner Marketing Excellence 2022 and 2023, and two times Gold winner Mob-Ex APAC 2023, Leverate Group aims to extend its expertise in the APAC region through its Jakarta and Singapore offices. Learn more about us at https://leverate.asia/.
Media contacts:
For APAC
Germaine Ong
germaine.ong@stagwellglobal.com
For U.S.
Kara Gelber
pr@stagwellglobal.com
For Leverate Group
info@leverate.asia
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Stagwell brings together multidisciplinary agencies under one roof to prioritize connected solutions for clients
LONDON, April 18, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, today celebrates the grand opening of its EMEA headquarters situated in London’s Blue Fin Building in the vibrant South Bank neighborhood.
This milestone closely follows the company’s FY 2023 earnings report, which saw Stagwell’s EMEA agencies leading growth, with a 17% year-over-year net revenue increase.
The day will be marked by an office-wide activation where agency teams will gather to celebrate the future and foster relationships in alignment with the company’s focus on interconnected solutions.
“The collective strength of our 20 multidisciplinary European agencies – brought together at the Blue Fin building – underscores Stagwell’s investment in European growth. With award-winning agencies like Assembly, Goodstuff, Allison, Forsman & Bodenfors, KWT Global and many more coming together under one roof, we can better leverage our network’s assets to build advanced solutions for clients,” said Mark Penn, Chairman and CEO of Stagwell.
Stagwell has already made two European acquisitions in Q1 2024. First Sidekick, an award-winning collective of specialist agencies focused on experiential, digital storytelling, and branded content, joined marketing and communications consultancy, Allison. Shortly after, Stagwell announced the acquisition of WHAT’S NEXT PARTNERS (WNP), a French digital brand and marketing consultancy specializing in data-powered strategies, integrated communications, and creative content, which joined the Anomaly Alliance.
“We’re seeing a growing cohort of marketing leaders seeking an alternative to the legacy holding companies. Continued growth in our creative and media portfolios, and our deep commitment to scaling our research, digital transformation and technology businesses will drive connected solutions across the whole region. This gives us confidence that we can help clients transform and win on an ongoing basis,” said James Townsend, CEO of Stagwell EMEA.
In recent months, Assembly, Stagwell’s largest agency operating in Europe, continued to shore up its operations across the region, making several senior personnel announcements, including the elevation of James Appleby to Managing Director, UK, and Kashif Dalvi to Head of Strategy, along with the appointment of James Wilde as Head of Growth & Marketing and Lizzy Herbertson as Commercial Director in Europe. The media company also added two managing partners in Europe: Alex Boniface, and Bridget Hopkins.
Additionally, in late March, Forsman & Bodenfors, the global creative collective, announced it would integrate Crispin Porter + Bogusky’s UK agency, CPB London, into its business to become a scaled offering in the market.
Agencies operating throughout the region include 72andSunny, Anomaly, Allison, Assembly, Brand New Galaxy, Code and Theory, Forsman & Bodenfors, Goodstuff, HarrisX, Hunter, Ink, KWT Global, Locaria, National Research Group, Sidekick, Stagwell Marketing Cloud, and What’s Next Partners.
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:
Madeleine Maher
pr@stagwellglobal.com
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Originally Released On
NEW YORK, April 17, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, will report financial results for the three months ended March 31, 2024, on Wednesday, May 1, 2024, before market open.
Stagwell will host a video webcast to review those results the same day at 8:30 AM (ET). Register here to attend the webcast.
A replay of the webcast will be available following the event at Stagwell’s website, https://www.stagwellglobal.com/investors/.
About Stagwell
Stagwell (NASDAQ: STGW) is the network created to transform marketing. We deliver creative performance at scale for the world’s most ambitious brands, connecting culture-moving creativity with cutting-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our more than 13,000 experts in more than 34 countries are united under a single purpose: to generate effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
CONTACT:
Ben Allanson
ir@stagwellglobal.com
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Originally Released On
Media Contact
For U.S.
Sarah Arvizo
pr@stagwellglobal.com
For Brazil:
Laize Lima
lmlima@cpbgroup.com
Female-Founded Agency Grew 50% in 2023 and Will Scale Stagwell’s Presence in Brazil and Latin America as Part of Allison
SÃO PAULO, April 15, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, has entered into an agreement to acquire PROS Agency (PROS), a Brazil-based brand and marketing consultancy specializing in digital public relations (PR), creative planning and production, influencer marketing, and brand development. Headquartered in São Paulo, the agency will play a key role in driving business for Stagwell within Brazil as well as the greater Latin America (LATAM) region as part of Allison, a global marketing and communications consultancy within Stagwell.
“PROS’ creative strategy and digital innovation expertise helps brands create engaging and purposeful conversations with consumers, consistently pushing the boundaries of PR – making them a true leader in the region,” said Stagwell Chairman and CEO Mark Penn. “I worked in Latin America for several years and have always noted its massive growth potential. This acquisition is key to our accelerated global expansion strategy, and I’m pleased to welcome Daniela and her team to our network.”
“Since launching our operations in Brazil and Latin America two years ago we’ve driven significant results for regional brands, landed new global clients such as Lenovo and Motorola, and expanded our footprint with the additions of new agency partners to our Global Affiliate network,” said Vinicius Reis, president, Stagwell Brazil and CEO, Crispin Porter and Bogusky (CP+B) Brazil. “In less than 10 years PROS’ ‘People Relations’ approach to creative and digital storytelling has earned the agency widespread recognition and work with the most important brands in the region. Their addition to our network further strengthens Allison’s brand and positions us for significant growth in Brazil and LATAM.”
PROS employs a contemporary perspective to PR by connecting data and cultural context to execute in various formats. The team of over 130 professionals is co-led by founder and CEO Daniela Graicar and co-CEO Fernanda Tchernobilsky, as well as partner Alan Strozenberg. They will continue to lead the agency.
“It’s a great accomplishment to be part of an international network so aligned with our values and in retaining the boldness that defines us. The management autonomy that Stagwell offers us and the support for our growth were also decisive factors in this choice,” said Daniela Graicar, founder and CEO, PROS. “More than ever, we are committed to our team and clients – who have gotten us to this point – and excited about the plans for our evolution in the coming years. The depth and breadth of the Allison global network opens up tremendous opportunity for us to show up in new ways for our clients.”
With clients such as Boticário, Amazon, Mondelez, Vibra, Porto, and Kimberly Clark, the agency closed 2023 with 50% growth and expects to grow another 20% this year.
PROS will retain its leadership and will collaborate with other Brazil and Latin America agencies in the Stagwell network to expand service offerings to clients. Stagwell’s agency network in Brazil, Argentina, Mexico, and Central America includes Allison, Assembly, Code and Theory’s Truelogic, CP+B, Ink, and Locaria.
PROS marks Stagwell’s fourth acquisition in 2024, following What’s Next Partners, Sidekick, and Team Epiphany.
About Stagwell
Stagwell (NASDAQ: STGW) is the network created to transform marketing. We deliver creative performance at scale for the world’s most ambitious brands, connecting culture-moving creativity with cutting-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our more than 13,000 experts in more than 34 countries are united under a single purpose: to generate effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
About Allison
Allison is a global integrated marketing and communications consultancy dedicated to driving growth, innovation, and positive change for clients, colleagues, and communities. With a diverse range of expertise and a forward-looking mindset, Allison delivers game-changing results that make a lasting impact. Allison is owned by Stagwell (NASDAQ: STGW), one of the fastest growing and most influential marketing and communications networks in the world. Agency partners leverage Stagwell’s technology, data analytics, insights and strategic consulting solutions to drive measurable results and optimize return on marketing investment for more than 1,700 clients worldwide. Learn more at www.allisonworldwide.com.
Media Contact
For U.S.
Sarah Arvizo
pr@stagwellglobal.com
For Brazil:
Laize Lima
lmlima@cpbgroup.com
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Elspeth Rollert is a member of the New Class of Female Leaders, a series we’ve launched to celebrate the talent and leadership of female CEOs who are new to the network (or new to their roles) here at Stagwell.
Learn more about Elspeth and who guides her in business, and her high school superlative.
Question: What or who guides you in business?
Answer: Running while listening to the Pivot podcast with Kara Swisher and Scott Galloway
Question: High School Superlative:
Answer: Most likely to never be forgotten
Follow along on Stagwell’s website and LinkedIn as we highlight more leaders invaluable business insights and fun facts about themselves!
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