MDC Partners Is Latest Holding Company to Post Q3 Organic Revenue Drop

CEO Mark Penn pinned losses on a ‘few specific Covid-impacted sectors’

Mark Penn
MDC Partners, like most of advertising's major holding companies, took a revenue hit during the third quarter as a result of Covid-19. MDC Partners

MDC Partners, which owns agencies including 72andSunny and Doner, saw its organic revenue drop 16.4% in the third quarter of this year. According to the company, organic revenue declined primarily due to reduced spending by clients in response to Covid-19.

@Minda_Smiley Minda Smiley is deputy Agencies editor at Adweek.