Stagwell reports 8% net revenue increase, half of revenue from creative and comms

Stagwell has reported an uptick in Q2 net revenue of $598 million, an increase of 8% versus the prior year period.

Overall, this is in line with YTD net revenue with an increase of 7% versus the prior year period.

Q2 profits saw net loss attributable to Stagwell shareholders of $5 million versus $3 million in the prior year period.

Creativity and comms are the sectors within Stagwell leading the way, generating 44.2% of Q2 net revenue. Consumer insights and strategy are driving 8% of Q2 net revenue, performance media and data driving 18% and digital transformation contributing 18% as well. The Marketing Cloud Group, Stagwell’s platform for marketers to discover AI-powered products across market research, communications, creative and media, contributed 11%. 

New biz continues to be on the up. Stagwell saw 101% YoY increase in total number of client wins, with 34 wins in excess of $1 million in the quarter. New clients include Samsung, New Balance, ServiceNow and Volkswagen.