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Recognition for 72andSunny, Anomaly, Assembly, Doner, and YML ties Stagwell with holding company giants for recognition in the annual list of best advertising agencies worldwide

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By

Olivia Morley
Adweek

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Via Adweek, Stagwell, Getty Images.

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NEW YORK, March 9, 2022 /PRNewswire/ — Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, today released a nearly 2-minute video summarizing its financial performance and strategic progress through full-year 2021. The reel is a dynamic complement to Stagwell’s earnings materials for the three and twelve months ended December 31, 2021, released on Tuesday, March 8, 2022. To view the video, click here. For the earnings release, click here.

“Why shouldn’t we give investor content the marketing treatment? Enter “Earnings: The Movie” – perhaps the easiest way to digest Stagwell’s breakout financial results for 2021 and the goals of the company as it charts growth in 2022,” said Mark Penn, Chairman and CEO, Stagwell. “If you have found earnings releases in general to be boring, we hope this video is a breath of a fresh air and a reminder that an investment in Stagwell is an investment in the future of marketing.”

Production on the video was completed in-network by Stagwell production unit Cahoots Studio, part of the Doner Partners Network. In addition to the video, management has prepared a one-page overview of the company’s Q4 and FY 2021 performance which can be downloaded here.

For questions about Stagwell’s financial performance, please reach out to ir@stagwellglobal.com. A recording of Stagwell’s earnings webcast on Tuesday, March 8, 2022, and other investor materials can be accessed on our site, www.stagwellglobal.com/investors.

About Stagwell Inc. 
Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world’s most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing.  Led by entrepreneurs, our 10,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com. 

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Record first full-year financial results at Stagwell Inc. were fueled by fast growing digital transformation and digital marketing services, expansion of global media and large client wins 

• GAAP Revenue growth of 95.5% in 4Q and 65.5% for the Full-Year

• Pro Forma Organic Net Revenue growth of 11.3% in 4Q and 14.5% for the Full-Year

• Ex-Advocacy Pro Forma Organic Net Revenue growth of 21.2% in 4Q and 18.0% for the Full-Year

• Net Income attributable to Stagwell of $0.8M in 4Q and Net Income of $21.0M for the Full-Year

• Pro Forma Adjusted EBITDA of $103.6M in 4Q and $378.0M for the Full-Year

• Issues 2022 Pro Forma Net Revenue growth guidance of 18%-22% and 13%-17% ex-Advocacy

• Issues 2022 Adjusted EBITDA guidance of $450M – $480M and Pro Forma Free Cash Flow growth of ~30%

New York, NY, March 8, 2022 (NASDAQ: STGW) – Stagwell Inc. (“Stagwell”) today announced financial results for the three and twelve months ended December 31, 2021.

REPORTED FOURTH QUARTER & YTD HIGHLIGHTS:

• Fourth quarter revenue of $611.9 million, an increase of 95.5% versus the prior year period; full-year revenue of $1,469.4 million, an increase of 65.5% versus a year ago.
• Fourth quarter net revenue of $519.7 million, an increase of 160.9% versus the prior period; full-year net revenue of $1,268.9 million, an increase of 100.4% versus a year ago.
• Fourth quarter net income attributable to Stagwell Inc. common shareholders of $0.8 million versus net income of $22.2 million in the prior year period; full-year net income of $21.0 million versus $56.4 million in the prior year period.
• Fourth quarter adjusted EBITDA of $103.6 million, an increase of 61.3% versus the prior year period; full-year adjusted EBITDA of $253.7 million an increase of 2% versus a year ago.

PRO FORMA FOURTH QUARTER & YTD STAGWELL INC. HIGHLIGHTS:

• Fourth quarter Pro Forma revenue of $611.9 million, a decline of 4.6% versus the prior year period and an increase of 18.0% ex-Advocacy; full-year Pro Forma revenue of $2,224.3 million, an increase of 6.6% and an increase of 18.2% ex-Advocacy versus the prior year period.
• Fourth quarter Pro Forma net revenue of $519.7 million, an increase of 10.4% and 20.2% ex-Advocacy vs. a year ago; full-year Pro Forma net revenue of $1,926.8 million, an increase of 16.4% and 20.0% ex-Advocacy versus the prior year period.
• Fourth quarter Pro Forma organic net revenue increased 11.3% and 21.2% ex-Advocacy versus a year ago; full-year Pro Forma organic net revenue increased 14.5% and 18.0% ex-Advocacy versus a year ago.
• Fourth quarter Pro Forma adjusted EBITDA was $103.6 million, a decrease of 5.1% versus the prior year period and an increase of 31.2% ex-Advocacy; full-year Pro Forma adjusted EBITDA was $378.0 million, an increase of 19.6% versus the prior year period and an increase of 41.4% ex-Advocacy.
• Fourth quarter Pro Forma adjusted EBITDA margin was 19.9% of net revenue and full-year adjusted EBITDA margin was 19.6% of net revenue.
• Net New Business wins totaled $75 million in the fourth quarter.

“2021 was a breakthrough year for Stagwell. Our full-year results and 2022 outlook are a clear affirmation of the combination and Stagwell’s unique position as the challenger that will transform marketing,” said Mark Penn, Chairman and Chief Executive Officer. “We delivered pro forma organic net revenue growth of 14.5% for the year and an even more impressive 18% organic growth when excluding our Advocacy businesses, which lapped the 2020 election cycle.”

“Our record year was driven by tailwinds across our high concentration of leading digital capabilities, including digital transformation, influencer and global performance marketing; as well as a rapid acceleration in large contract wins,” Penn continued. “Our robust 2022 outlook reflects our expectation for continued digital strength; continued acceleration in scaled, integrated contract wins; and significant growth in the second-half in our Advocacy businesses driven by an anticipated record year of spend during the 2022 U.S. mid-term elections.”

Frank Lanuto, Chief Financial Officer, commented: “The Company reported strong fourth quarter net revenue of $520 million, representing pro forma net revenue growth of 10.4% year-over-year with 11.3% organic growth.  Strong operating performance led to pro forma adjusted EBITDA margins of 19.9% for the quarter. Effective cash flow management permitted our continued acquisitions of both minority interests in our fastest growing subsidiaries as well as the acquisition of Goodstuff in the UK while lowering our net leverage ratio from the prior quarter.”

Financial Outlook

2022 financial guidance is as follows:

• Pro Forma Net Revenue growth of 18% – 22%

• Pro Forma Net Revenue growth ex-Advocacy of 13% – 17%

• Adjusted EBITDA of $450 million – $480 million

• Pro Forma Free Cash Flow growth of approximately 30%

• Guidance assumes no impact from foreign exchange or acquisitions or dispositions.

Webcast

Management will host a video webcast on Tuesday, March 8, 2022, at 8:30 a.m. (ET) to discuss results for Stagwell Inc. for the three and twelve months ended December 31, 2021. The video webcast will be accessible at https://stagwellq4andfullyear2021earnings.open-exchange.net. An investor presentation has been posted on our website at www.stagwellglobal.com/investors and may be referred to during the conference call.

A recording of the conference call will be accessible one hour after the call and available for ninety days at www.stagwellglobal.com.

About Stagwell Inc.

Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world’s most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing.  Led by entrepreneurs, our 10,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.

Basis of Presentation

The acquisition of MDC Partners (MDC) by Stagwell Marketing Group (SMG) was completed on August 2, 2021. The results of MDC are included within the Statement of Operations for the period beginning on the date of the acquisition through the end of the respective period presented and the results of SMG are included for the entire period presented.

Non-GAAP Financial Measures

In addition to its reported results, Stagwell Inc has included in this earnings release certain financial results that the Securities and Exchange Commission (SEC) defines as “non-GAAP Financial Measures.”  Management believes that such non-GAAP financial measures, when read in conjunction with the Company’s reported results, can provide useful supplemental information for investors analyzing period to period comparisons of the Company’s results. Such non-GAAP financial measures include the following:

Pro Forma Results: The Pro Forma amounts presented for each period were prepared by combining the historical standalone statements of operations for each of legacy MDC and SMG. The unaudited pro forma results are provided for illustrative purposes only and do not purport to represent what the actual consolidated results of operations or consolidated financial condition would have been had the combination actually occurred on the date indicated, nor do they purport to project the future consolidated results of operations or consolidated financial condition for any future period or as of any future date. The Company has excluded a quantitative reconciliation of adjusted Pro Forma EBITDA to net income under the “unreasonable efforts” exception in Item 10(e)(1)(i)(B) of Regulation S-K.

(1) Organic Revenue: “Organic revenue growth” and “organic revenue decline” refer to the positive or negative results, respectively, of subtracting both the foreign exchange and acquisition (disposition) components from total revenue growth. The acquisition (disposition) component is calculated by aggregating prior period revenue for any acquired businesses, less the prior period revenue of any businesses that were disposed of during the current period. The organic revenue growth (decline) component reflects the constant currency impact of (a) the change in revenue of the partner firms that the Company has held throughout each of the comparable periods presented, and (b) “non-GAAP acquisitions (dispositions), net”. Non-GAAP acquisitions (dispositions), net consists of (i) for acquisitions during the current year, the revenue effect from such acquisition as if the acquisition had been owned during the equivalent period in the prior year and (ii) for acquisitions during the previous year, the revenue effect from such acquisitions as if they had been owned during that entire year (or same period as the current reportable period), taking into account their respective pre-acquisition revenues for the applicable periods, and (iii) for dispositions, the revenue effect from such disposition as if they had been disposed of during the equivalent period in the prior year.

(2) Net New Business: Estimate of annualized revenue for new wins less annualized revenue for losses incurred in the period.

(3) Adjusted EBITDA: defined as Net income excluding non-operating income or expense to achieve operating income, plus depreciation and amortization, stock-based compensation, deferred acquisition consideration adjustments, and other items. Other items include restructuring costs, acquisition-related expenses, and non-recurring items.

(4) Free Cash Flow:  defined as Adjusted EBITDA less capital expenditures, change in net working capital, cash taxes, interest, and distributions to minority interests, but excludes contingent M&A payments.

(5) Financial Guidance:  The Company provides guidance on a non-GAAP basis as it cannot predict certain elements which are included in reported GAAP results.

Included in this earnings release are tables reconciling reported Stagwell Inc. results to arrive at certain of these non-GAAP financial measures.

This press release contains forward-looking statements. Statements in this press release that are not historical facts, including without limitation the information under the heading “Financial Outlook” and statements about the Company’s beliefs and expectations, earnings (loss) guidance, recent business and economic trends, potential acquisitions, and estimates of amounts for redeemable noncontrolling interests and deferred acquisition consideration, constitute forward-looking statements. Words such as “estimates”, “expects”, “contemplates”, “will”, “anticipates”, “projects”, “plans”, “intends”, “believes”, “forecasts”, “may”, “should”, and variations of such words or similar expressions are intended to identify forward-looking statements. These statements are based on current plans, estimates and projections, and are subject to change based on a number of factors, including those outlined in this section.  Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of them in light of new information or future events, if any.

Some of the factors that could materially and adversely affect our business, financial condition, results of operations and cash flows include, but are not limited to, the following:

• risks associated with international, national and regional unfavorable economic conditions that could affect the Company or its clients, including as a result of the novel coronavirus pandemic (“COVID-19”);
• the effects of the outbreak of COVID-19, including the measures to reduce its spread, and the impact on the economy and demand for our services, which may precipitate or exacerbate other risks and uncertainties;
• an inability to realize expected benefits of the combination of the Company’s business with the business of MDC (the “Business Combination” and, together with the related transactions, the “Transactions”);
• adverse tax consequences in connection with the Transactions for the Company, its operations and its shareholders, that may differ from the expectations of the Company, including that future changes in tax law, potential increases to corporate tax rates in the United States and disagreements with the tax authorities on the Company’s determination of value and computations of its attributes may result in increased tax costs;
• the occurrence of material Canadian federal income tax (including material “emigration tax”) as a result of the Transactions;
• direct or indirect costs associated with the Transactions, which could be greater than expected;
• risks associated with severe effects of international, national and regional economic conditions;
• the Company’s ability to attract new clients and retain existing clients;
• reduction in client spending and changes in client advertising, marketing and corporate communications requirements;
• financial failure of the Company’s clients;
• the Company’s ability to retain and attract key employees;
• the Company’s ability to achieve the full amount of its stated cost saving initiatives;
• the Company’s implementation of strategic initiatives;
• the Company’s ability to remain in compliance with its debt agreements and the Company’s ability to finance its contingent payment obligations when due and payable, including but not limited to those relating to redeemable noncontrolling interests and deferred acquisition consideration;
• the successful completion and integration of acquisitions which complement and expand the Company’s business capabilities; and
• foreign currency fluctuations.

Investors should carefully consider these risk factors, other risk factors described herein, and the additional risk factors outlined in more detail in Exhibit 99.2 to our Current Report on Form 8-K, filed with the Securities and Exchange Commission (the “SEC”) on August 10, 2021, and accessible on the SEC’s website at www.sec.gov., under the caption “Risk Factors,” and in the Company’s other SEC filings.

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NEW YORK, March 3, 2022 /PRNewswire/ — Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, today announced Chairman and CEO Mark Penn will attend the upcoming Deutsche Bank 30^th Annual Media, Internet, & Telecom Conference in Palm Beach, Florida on March 15, 2022. Management will also host several 1X1 sessions with investors at the conference. To coordinate a meeting, please contact Michaela Pewarski, VP, Investor Relations at ir@stagwellglobal.com.

Stagwell’s Q4 and full-year 2021 earnings webcast will take place the week prior to the conference on Tuesday, March 8 at 8:30 AM ET. Visit this link to register and access the webcast.

To learn more about Stagwell, visit https://www.stagwellglobal.com/investors/

About Stagwell

Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world’s most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing.  Led by entrepreneurs, our 10,000+ specialists in 20+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.

Contact:
Michaela Pewarski
ir@stagwellglobal.com
646-429-1812

CONTACT

hello@stagwellglobal.com

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Marketing Frontiers is a new series from Stagwell exploring the methods, mediums, and messes modern marketers will grapple with over the next decade as they chart transformation in the discipline. This March, Stagwell is exploring Audio.

TL;DR:

Audio provides disproportionate opportunities to gain cut-through in certain markets and demographics. Localization is the gateway to both accessing the best global content for US consumers, and scaling US brands worldwide.

With no images to aid understanding, successful audio localization has to be high quality, and still requires a human touch.

Approach localization the same as global media planning.

Recent research has shown a renaissance in the popularity of audio content amongst U.S. consumers, with younger segments finding audio more trustworthy than other digital channels.  Additionally, as the popularity of shows such as Squid Game has recently shown, consumers in the U.S. have a growing appetite for international content. As brands shore up their global content properties in the coming years, the key to meeting the demand for international and multicultural audio content will be a smart approach to localization.

Engaging US audiences with the best creative work emerging overseas

The US audience benefits from a wealth of high-quality domestic content, produced with big budgets and starring global talent. When seeking impactful international content in this mature environment, the uncomfortable truth is that all creative markets are not equal. 

Some markets have prioritized creative industries and are stronger sources for new video and audio content. The focus the South Korean government has put on creative industries as a source of regional influence since the Korean War has contributed to the success of Squid Game. The global content market is huge. As brands look to shore up their international content properties in the coming years, starting with content from markets that have already proven their creative skills in cinema could provide quick wins. For example: in Europe, Germany, France, and the UK are well known for their cinematic prowess, while the Nordic countries offer opportunities with their noir genre. Further afield, India (Bollywood) and Nigeria (Nollywood) already produce English language content, requiring less adaptation for the US. 

Once great content has been found, adapting it for US audiences requires linguistic skills and deep cultural understanding. Editorial decisions have to be made in partnership with localization to ensure the original language’s drama, romance, or humor is not lost in translation. Collaborative workflows between creative and production talent are essential for making efficient adaptation decisions. Building audience data into that process can reduce subjectivity, speed up the process and reduce controversy around localization choices.

Leveraging US content to reach international audiences

While US consumers are seeking international content, authentic American stories can also play well globally. In the race to develop an audio content universe, brands should consider tapping into the expansive body of compelling U.S. podcasts and localizing them for international reach.

It’s important to note that audio content, unlike video, provides no visual aids to the consumer to support understanding, so high quality localization is even more important. Developments in AI technology and improvements in home recording equipment are reducing costs and speeding up audio localization, unlocking global audiences. However, as most creative content still requires human intervention and editorial agreement, brands should apply a targeted approach. By investing in localization where brands can have the most impact and utilizing a variety of methodologies to deliver local language content, costs can be controlled. So which markets offer the greatest opportunities to engage audiences with series like Serial or Smartless?

When it comes to the percentage of internet users consuming podcasts:

• Sweden, Norway and Denmark all over-index. The Nordics offer a wealthy consumer base, and a less competitive marketing environment than other European and English-speaking markets, providing attractive opportunities for growth.
• Spanish is becoming the second universal language for podcasting. In 2021, Mexico had a higher podcast penetration than most of Europe. Localizing to Mexican Spanish has the added benefit of offering deeper engagement with US Hispanic audiences.

Lastly, English-speaking markets can be a quick win, but to have real resonance and stand out from the competition, brands should adapt content to local English versions. They should also look at adapting content such as track listings or summaries and consider offering supplemental information explaining certain terms. This makes audiences feel better understood and drives loyalty.

Key Takeaways

• Audio provides disproportionate opportunities to gain cut-through in certain markets and demographics. Localization is the gateway to both accessing the best global content for US consumers, and scaling US brands worldwide.
• With no images to aid understanding, successful audio localization has to be high quality, and still requires a human touch. Locaria’s ISO-certified global network of highly skilled talent ensures messages have impact in any market, and protect your brand from embarrassing mistakes.
• Approach localization the same as global media planning. With an approach similar to media planning, Locaria’s content analysts ensure efficient global scaling of content across all channels, based on business objectives, and respecting budgets.

Learn more about how Locaria can help you scale your content globally here.

—

Locaria is a pioneering multilingual content activation agency which specializes in supporting in-house marketing and e-commerce teams, media agencies and creative production houses. We build linguistic solutions to scale content and campaigns internationally, while carefully balancing efficiency, effectiveness, creativity and quality.

CONTACT

hello@stagwellglobal.com

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Amid the global consumer craving for new experiences driven by the pandemic, social audio bloomed in popularity through 2020 and 2021. A year later, some of the buzz around the platform driving the trend – Clubhouse – has fizzled, but experiments in the space from key social platforms like Twitter and Reddit, and audio superstar Spotify, show there’s still terrain to be mapped. But are consumers into social audio? What opportunities does the content create? And what are the barriers to widespread adoption and growth that brands should be on the lookout for? Stagwell’s experts from KWT Global, HUNTER, and Meat & Produce address where social audio is headed in 2022.

Niche Will Drive the Social Audio Experience 

Jessica Spar, SVP, Digital, KWT Global

Social audio isn’t going anywhere any time soon, but the bigger questions are: Who is tuned in? And where? Clubhouse was meant to be the next big thing, but its fifteen minutes of fame have passed. Was this because the format didn’t ultimately have long term potential? Or because it was a good idea with poor execution? Twitter Spaces seems to be banking on the latter, yet with significant shifts in the cultural and social landscape over the last few years, Twitter may not be primed for the success it expects.

Twitter is counting on mass appeal for Twitter Spaces based on its 300 million+ monthly users. However, the masses are moving in a different direction – younger audiences are increasingly leaning into Instagram and TikTok as their platforms of choice, with video as the dominating medium. Social audio has a completely different definition on these platforms. Where Clubhouse and Twitter Spaces focus on live conversation, TikTok and Instagram’s definition of social audio includes everything from audio remixes to sharing the latest sound trends, which doesn’t require the same level of focus, attention, and participation as the live conversational formats of Clubhouses and Twitter Spaces.  

To succeed, Twitter Spaces will need to rely on highly engaged niche interest groups, which is a model already owned by Reddit. As a platform founded on niche interest groups, Reddit is now throwing its hat into the social audio ring as well with Reddit Talk. Reddit could succeed where Clubhouse failed (and Twitter Spaces seems to be failing), as they have the framework for success built into their platform already. The platform’s subreddit model and moderation policies lend themselves well to a similar setup for live audio discussion. Clubhouse, on the other hand, was still working through the right setup for rooms when users started to lose interest, and Twitter’s struggles have come in on the moderation side of things. Without clear moderation frameworks, brands may find social audio experiences too risky.  

All to say, no clear winner has emerged in the social audio game when it comes to live conversation, so it will be interesting to see which platform, if any, can get it right! 

Platform Investment Means Social Audio is Here to Stay 
Michael Lamp, Chief Digital Officer, HUNTER 

Despite Clubhouse’s fizzle-out, there’s still a ton of heat around social audio. Twitter Spaces has outpaced all its other recent innovations and is driving a lot of thumb-stopping based on the way live Spaces appear in the mobile app (à la IG Stories…just begging to be clicked). Spotify launched its version of audio rooms – Greenroom – in July of 2021 and Facebook continues to promote its Live Audio Rooms with select Creator partners.  

Perhaps most indicative of Social Audio’s staying power, though, is Reddit’s offering: Reddit Talk. A mobile-only product for a while, it rolled out to the web version just this year, adding several new features, including the ability to listen to recorded sessions.  

Beyond these specific products offered by existing platforms, the broader trend of sensorial social is what we’re watching, buoyed by the staying power of podcasts, ASMR and long-form, audio-as-video content. From sight to sound to virtual realities in the metaverse simulating touch, where will the fight for consumer attention take us next?     

Content Creators Hold the Key for the Future of Social Audio 

Christine McDermott, VP, Meat & Produce   

Amidst the “we’re all in this together” enthusiasm of 2020 (remember after work Zoom drinks? Yea, sorry to remind you…) friends, families and companies jumped into the online world headfirst. The need for connection, exacerbated by the pandemic, was real but screen fatigue quickly set in. This combination created a gateway for an explosion of audio content. While it appeared to have been spurred on by our “unprecedented times,” the audio movement had been building for years with the groundwork laid by the increasing popularity of podcasts.  

This brings us back to Clubhouse: despite downloads having plummeted after the initial hype, every major social platform has continued to invest in the development of audio. Think Twitter Spaces, Facebook Live Rooms and Spotify Greenroom. Notably, the names of these efforts focus on referencing physical locations, highlighting the opportunity audio provides for greater connection and inclusion across hybrid brand ecosystems. Even LinkedIn has recently jumped on the bandwagon, extending their live events to include audio-only events. Audio-only can level a playing field in terms of providing engagement opportunities without judgment on appearance or location (i.e. no need for staged Zoom backgrounds…) 

No social form of social media is an island, or could possibly exist in isolation, and thus the popularity of audio has bloomed beyond audio-only channels. For years, the advice brands and agencies heard from Facebook was to design content for sound-off as well as sound-on. This was based on the insight that most users would consume content while silently scrolling through feeds. Now users discover cultural moments by tapping into trending audio on TikTok; the audio content drives the cultural relevance consumers are seeking in their entertainment consumption.  

The key to the future of audio lies in the hands of creators, both from a platform and consumer perspective. The possibilities here are immense: since it is more cost effective to create high-quality audio than video, audio’s proliferation will enable new and underrepresented voices to enter the mainstream. Additionally, audio content and interactions allow for deeper discussions around key issues we face today while simultaneously enabling a greater level of empathy to be built between listeners. Imagine the nuance that voice provides enhancing conversation and discourse, as opposed to the impersonal, text-based comment battles we see across social media so often. Through strategic creator partnerships, our brands can find authentic ways to enter the conversations that are matter to their consumers.  

With the ongoing evolutions we are seeing in this space – from increasing formats and channels to greater accessibility options – audio will continue to play a more important role in our social mix, from channel planning to creative development.

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McElligott promoted from Interim General Counsel to senior leadership role amid expanded central legal services push

NEW YORK, NEW YORK – FEBRUARY 28, 2022 – Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, today announced the appointment of Peter McElligott as General Counsel, effective immediately. McElligott has served as Interim General Counsel at Stagwell since the launch of the global marketing network in August 2021.

McElligott will lead an expanded legal department at Stagwell driving the company’s regulatory, governance, enterprise and MSA work, while bolstering Stagwell’s central legal services to add value for partners across Stagwell’s global network. Edmund Graff and Richard Wulwick fill out the team as Deputy General Counsel. 

“Peter and I first met while he was part of the corporate strategy team I led at Microsoft. I appreciated his counsel then and his stewardship through the Stagwell combination in 2021, and I’m excited to continue to work with him in this elevated role,” said Mark Penn, Chairman and CEO, Stagwell.

Prior to joining Stagwell in 2021, Peter led legal departments at two fast growing technology companies operating in highly regulated industries, RapidSOS and Spruce Holding Inc. Peter provided strategic legal advice to senior management and the boards of directors, as well as providing counsel on financings, litigation strategy, regulatory compliance, corporate development, M&A and a variety of business issues.  Prior to that, Peter was in private practice at a Washington, D.C. law firm, was an integral member of the corporate strategy team at Microsoft, and was senior legal counsel at Citrix Systems Inc.  Peter began his legal career as a clerk for the honorable James B. Loken on the Eighth Circuit Court of Appeals. 

Peter is a graduate of Yale Law School, where he was an editor of the Yale Law & Policy Review, and the University of Iowa.

About Stagwell

Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world’s most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing.  Led by entrepreneurs, our 10,000+ specialists in 20+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.

Contact:
Beth Sidhu
202-423-4414
beth.sidhu@stagwellglobal.com

We’re proud to share several ways agencies across Stagwell have celebrated and used Black History Month this year as a platform to impact communities locally, nationally, and across the digital ecosystem.

Instrument – BankBlackUSA – Closing the Racial Wealth Gap

Instrument has invested $3 million in their Build|Grow|Serve program, created to support and empower Black and systemically excluded communities. As part of their 2021 Pro-Bono program, they partnered with  BankBlackUSA – an independent, grassroots organization dedicated to promoting financial advocacy in Black communities and closing the racial wealth gap – to redesign their website, elevate their brand, and create an extensible platform that supports the brand’s movement through impactful storytelling.

In emphasizing the need for banking Black, they felt it important to support Black designers and makers in the process. In doing so, they created infographics inspired by the work of W.E.B. DuBois—a famed sociologist who created groundbreaking data visualizations on institutionalized racism—purchased a typeface from designer Tré Seals, and supported Black-owned photography sites to bring the brand to life.

Applications for their 2022 pro-bono partner are live now through March 25th.You can further explore the Bank Black Case Study here.

Allison+Partners – NYC Black History 50 Run – Illuminating Hidden Histories

Allison+Partners’ ultra-runner Todd Aydelotte collaborated with several community partners across New York to organize the NYC Black History 50 run, an interactive running experience across key moments and sights integral to understanding black history across New York City. The run bridged an exciting interactive experience and local history, linking the boroughs together, beginning in South Staten Island and ending at the Ralph Ellison Memorial in Harlem. All participants donated to a Go Fund Me to preserve the history of Sandy Ground, America’s oldest continuously inhabited free Black community.

In a blog, Aydelotte discusses what inspired this run: (The Stream)

72andSunny and Colle McVoy – Spotlighting Black Hair and Culture 

In two separate activations, 72andSunny and Colle McVoy prepared creative content to celebrate Black hair and educate people on the rich styles, traditions, and historical significance of hairstyles in the Black community.

In an owned social series, Colle McVoy explored the history, significance, misconceptions, and beauty of hairstyles in the Black Community, covering cornrows, headwraps, and the afro. Colle McVoy’s Inclusion Council’s Black History Month planning team researched and developed the effort and shared it on social and with internal talent.

72andSunny launched “Rooted: A Journey of Roots and Resistance,” which packaged an expansive palette of digital assets, including a curated playlist, alphabet lookbook spotlighting hairstyles that have defined Black culture through history, a film showcasing stories of 72andSunny team members on hair journeys of self-discovery and acceptance, and a panel featuring some of the Black hair industry’s most exemplary people. Sequaña Williams-Hechavarria, equity, diversity, and inclusion program manager at the agency, spoke with The Drum about the work.

Code and Theory – Snapchat Creative Council “Hey, You Good?” – Driving Awareness on Black Mental Health 

My-Linh Tran, Senior Inclusive Marketing Strategist at Code and Theory, was part of the team of creatives who developed the Snapchat Creative Council’s Black History Month campaign devised to educate Snapchatters through real conversations about the mental health issues impacting Black communities. The campaign features AR filters and lenses that users can leverage, a Discover Channel mini-series that encourages young people to check in on mental health, and an educative microsite. Snapchat’s Creative Council is a partnership with ADCOLOR which brings together leading creatives to build campaigns that tackle issues that disproportionately impact Black communities.

Learn more about the effort in Adweek.

Doner/ Doner Partners Network – Kaleidoscope – Vendor Diversity Fair

Doner hosted its inaugural virtual supplier/vendor diversity fair, Kaleidoscope, which convened over 150+ diverse suppliers and vendors to showcase offerings and share best practices around equitable sourcing. Agencies across the Stagwell network attended and contributed to the programming.

OTHER NOTABLE ACTIVATIONS

• Anomaly Toronto – Equal Advantage – Anomaly recently opened applications for the second year of Equal Advantage, an agency-wide initiative to support small businesses in BIPOC communities with great advertising. A pro-bono effort, Equal Advantage offers Anomaly’s world-class creativity, strategy, and marketing experts to small businesses free of charge. In the program’s first year, Anomaly partnered with ISARELLA KOBLA, a luxury made-to-order clothing and accessories brand, as its first client.
• KWT Global – Do the Work Microsite – KWT continued to add to its expansive microsite launched in 2020, which features original and curated content that elevates BIPOC Creators, stories, and experiences. This month, KWT curated three pieces of content: The Story of Black History Month; 21 Books by Black Authors You Should Read in Your Lifetime; and Black History Month Films to Watch.
• The Harris Poll partnered with Teva Pharmaceuticals and the Morehouse School of Medicine on a report on the State of Access to Healthcare in America. Among the insights, the team identified barriers top barriers to health access exacerbated by the pandemic and offered strategies for a #PathToEquity
• YML BLK – YML’s black employee resource group curated stories of black perseverance, black history, black futures, and black joy in a social series through the month. Additionally, the agency spotlighted individual members of the ERG.
• Multiview – Helping Associations that Serve BIPOC Professionals – Stagwell’s B2B digital media and marketing firm has several partnerships with associations that represent minority professionals in different industries. The firm’s sales services help those organizations fund some of their member programs. Additionally, Multiview publishes their newsletters and helps them monetize various media properties by connecting their industry sponsors and their members through advertising.