Stagwell revenue up 10% organically in last quarter of 2024

Stagwell reported $629.6 million in Q4 2024 net revenue, a 10% organic net revenue increase compared to the year earlier and a change of more than 14% in total. 

The holding company posted net income of $15.8 million in the final quarter of last year, down from $46.4 million the year prior. 

For all of last year, Stagwell posted net revenue of $2.3 billion, an organic revenue increase of 5.2% from the year prior. It posted net income of $25 million for the full year, down from $41.6 million in the prior year. 

The holding company owns and operates PR and public affairs agencies including Allison, Hunter, SKDK and Sloane & Company. Stagwell unified PR firms Hunter and KWT Global under the Hunter brand in January. 

The holding company’s chairman and CEO, Mark Penn, described 2024 as a “breakthrough year for Stagwell” which has fueled a “strong start” to 2025.  

“We re-established ourselves as the fastest growing business in the industry, accelerated rapidly in digital transformation, took advantage of an unprecedented US election cycle and made strategic investments to expand our capabilities and geographical reach,” Penn said in a statement

Each of the holding company’s business segments posted organic net revenue growth in Q4, with the exception of its Consumer Insights & Strategy division, which dropped 6.4%. Creativity & Communications grew 8%, Performance Media & Data rose 15.4%, Digital Transformation increased by 17% and Stagwell Marketing Cloud Group was up 9.1%. 

For the full year, Digital Transformation (7.1%), Stagwell Cloud Marketing Group (10.5%), Performance Media & Data (8.3%) and Creativity & Communications (3.8%) all posted organic net revenue increases. Consumer Insights & Strategy reported a 3.2% revenue decrease for the full year. 

Stagwell’s PR firms are spread among its divisions, according to a holding company spokesperson. Stagwell had approximately 12,000 employees worldwide as of December 31 2024, according to the report. 

The US reported net revenue growth of 12.3% in Q4 and 6.7% in FY 2024. The U.K. saw a 12.6% net revenue decline in Q4, and a 5.4% drop in FY 2024. All other geographies were up 10.2% in the quarter and 1.8% for the full year.

Stagwell made 11 acquisitions in 2024. The company acquired digital communications agency Create Group, which was added to Stagwell’s Code and Theory Network; global media monitoring analytics platform Unicepta, which joined Stagwell Marketing Cloud’s PRophet comms tech suite; predictive brand technology platform Bera, which was added to advisory firm, The Harris Poll; and Business Traveller which joined travel media company Ink. 

The holding company also acquired Montreal-based Luxine Relations Publiques, joining the company’s subsidiary Veritas Communications, as well as Brazil-based Pros Agency and UK agency collective Sidekick, both added to Allison’s portfolio. They also acquired Japanese firm ADK Global in January 2025, as reported by Campaign Asia.

Other additions include creative agency Team Epiphany, added to Constellation’s network of agencies, followed by France-based shop What’s Next Partners.

The holding company also cited notable client wins and work expansions of the past year that contributed to growth, including Visa, Sephora, MassMutual and Target. Net new business accounted for $102 million in Q4 and $382 million for FY 2024.

Stagwell is predicting net revenue growth of 8% this year.

A number of prominent leadership changes took place at Stagwell PR firms last year. In December, Allison Worldwide named Ray Day as executive chairman, taking over from Scott Allison and vice chair Andy Hardie-Brown, the agency’s cofounders, who moved into an adviser capacity. Last January, Jonathan Heit succeeded Allison as global CEO.

This month, Sloane & Company named Darren Brandt as the agency’s sole CEO; he previously shared the role with Whit Clay.