• by Larissa Faw , March 9, 2021

Stagwell Group, which is preparing to merge with MDC Partners, has released its first public earnings report. Both companies are overseen by Mark Penn, who founded Stagwell in 2015. He became CEO of MDC (which reported full-year 2020 results earlier this month) two years ago. 

Stagwell revenue for 2020 totaled $888 million, up 41.3% and organic revenue growth was 29.1%. 

Fourth quarter figures were also strong. Q4 revenue reached $313.1 million, up 67.5%. Organic revenue was up 60%. 

Stagwell’s results for the year and quarter were significantly better than the major Adland holding companies, albeit from an exponentially smaller revenue base. Political spending for the 2020 elections contributed to the company’s performance.  

Stagwell did experience some turbulence. The pandemic “significantly impacted” some of its brands, particularly in the travel and entertainment verticals. 

Overall, company founders believe their “Noah’s Ark” strategy of diversification across the entire digital landscape is a competitive advantage in a post-pandemic world. 

Mark Penn, president/managing partner told investors Stagwell is poised to soon become a $2 billion revenue company. 

Stagwell partner Jay Leveton added, “Our position at the forefront of technology and digital marketing led to substantial increases in revenue and EBITDA. As the operating environment improves in 2021 and we accelerate to an even more digital world, we remain uniquely positioned as a disruptor that solves the challenges modern marketers face.”