Stagwell’s numerous acquisitions, partnerships, key hires, and contract wins in the past year have led the company to its best quarter in its 5-year history on the public market. The holdco posted an 8% year over year increase in net revenue in Q3, totaling $664 million.
But as Stagwell scales, CEO Mark Penn is careful to ensure it doesn’t fall into the trap of getting too bloated, as some of its competitors have. “They ran away with size being the primary criteria, as opposed to figuring out how to diversify their business streams,” Penn told ADWEEK.
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