new york, April 29, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW) releases its 2023 Annual Report, highlighting the world's investments in artificial intelligence, immersive brand experiences, strategic acquisitions, and driving company visibility and market share. We focused on expanding our base of operations. Download the full report here.
“Despite a challenging year for marketing services and digital transformation, our customer mix set it apart. Stagwell grew share with some of our largest customers in 2023, We've taken efficient steps to manage costs and invested in digital innovation to position us for the future of marketing,'' said Mark Penn, Chairman and CEO.
“Despite a challenging year for marketing services and digital transformation, highlighted by customer mix, Stagwell expanded its share with some of its largest customers in 2023 and remains more efficient in managing costs. “We have taken significant steps and invested in digital innovation to position us for the future of marketing,” said the Chairman and CEO. mark pen. “We are poised to deliver groundbreaking work for our clients again this year, and the combination of 2024 tailwinds and new centralized efforts will position us for industry-leading organic growth and profitability.” We believe that we can return to the basics and be at the forefront of change at the same time.” ”
Highlights of 2023:
Mr. Penn's annual shareholder letter cited the following factors for Stagwell's 2023 performance:
- Investing in digital innovation: Net revenue increased 31% in 2023, highlighting growth in Stagwell Marketing Cloud Group, a proprietary data-driven SaaS product suite. We partner with Google Cloud and Oracle to develop marketing-focused AI solutions. Continue product development in AI and other emerging technologies across the agency. and the acquisition of a digital leader.
- Document new business pipeline driven by integrated efforts: Stagwell achieved record net new business. $270 million Have multiple agency accounts. We have grown the Division of Risk and Reputation, a bipartisan coalition of financial communications and research agencies that advises companies on polarization. And with the support of over 20 Stagwell distributors, we have successfully launched SPORT BEACH.
- global growth:FY23 international net revenue increased 13% year-on-year, led by EMEA, as Stagwell continued to expand its regional footprint with new locations in São Paulo and São Paulo. Londonand a growing network of affiliate partnerships. Philippines, Vietnamand Brazil.
- strategic acquisition: Stagwell will acquire In the Company of Huskies (now Forsman & Bodenfors Dublin), Tinsel Experiential Design, Left Field Labs, and Movers+Shakers in 2023 to expand its digital capabilities and expand its global footprint. We have acquired 4 companies.
Frontiers: Stagwell focuses on AI and immersive capabilities across the agency
Alongside the annual report, Stagwell lists its distributors and products Code and Theory, Left Field Labs, GALE, Cole McEvoyARound for AI and immersive experiences for brands, includes award-winning client projects. Google, Tipico, La-Z-Boy, Bomb Pop and Cleveland Cavaliers.
“We believe we are evolving into a marketing frontier company that is the partner of choice for global enterprises looking to transform digital consumer experiences to drive better business outcomes,” Penn said. Ta.
The case study can be found here, along with an overview of internal applications of AI across Stagwell's enterprise.
About Stagwell
Stagwell (NASDAQ: STGW) is a challenger network built to transform marketing. We deliver creative performance at scale for the world's most ambitious brands, combining culture-moving creativity with cutting-edge technology and harmonizing the art and science of marketing. Led by the entrepreneur, his more than 13,000 specialists in more than 34 countries are united by his one purpose: to increase efficiency and improve business performance for our clients. Visit www.stagwellglobal.com.
Forward-looking statements
This press release contains estimates, projections, objectives, anticipated 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 Act. Contains forward-looking statements. Securities Exchange Act of 1934, as amended. Statements in this book that are not historical facts. This includes statements regarding our beliefs and expectations, future financial performance and prospects (including our expected growth return), business and industry trends, and the anticipated benefits of our strategy . Artificial Intelligence, the potential and completion of acquisitions and the anticipated benefits thereof constitute forward-looking statements. Forward-looking statements are based on current assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, the risks and uncertainties described in Item 1A – Risk Factors and Sections.entitled “Forward-Looking Statements” in our Annual Report on Form 10-K for the year ended December 31, 2023. Accordingly, you should not place undue reliance on such statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them in light of new information or future events.
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