Summit to Convene Prominent U.K. Journalists and Industry Leaders, including Kamal Ahmed, Joanna Gosling, Sam McAlister and more
Stagwell to Unveil a New U.K. Version of the News Advertising Study, Highlight the Power of the News Audience and Debunk Common Brand Safety Misconceptions
LONDON, Sept. 18, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW) today announced the speakers for its London Future of News summit coming up on September 26, 2024, at Stagwell’s EMEA headquarters in London’s Blue Fin Building.
During the event, Stagwell will debut groundbreaking research conducted by HarrisX fielded among 25,000 U.K. respondents. Tailored specifically to the U.K. consumer marketplace, this study builds upon Stagwell’s News Advertising Study released in May, which proved it is safe for brands to advertise adjacent to quality news content agnostic of the topic.
“Brands are missing out by not advertising in quality news,” said Chairman and CEO of Stagwell Mark Penn. “News is a critical marketing vehicle essential to business success, and we’re excited to expand our future of News initiative to the U.K. and share our findings on a global stage.”
Stagwell is proud to introduce new partners across publishing and the industry to our Future of News initiative. These partners include The Associated Press, Conscious Advertising Network, Gannett, The Guardian US, The Hill, The Independent, NewsNation, Newsweek, Nexstar, New York Post, Ozone, The Rebooting, Reuters, USA Today and World Media Group. These publishers and industry leaders will join Stagwell’s existing cohort including Ad Fontes Media, Axel Springer, Axios, Business Insider, POLITICO, The New York Times, The Trade Desk, The Wall Street Journal and The Washington Post.
“Our May study debunked myths around brand safety in news and identified a significant, under-tapped audience of news consumers,” said Founder and CEO of HarrisX Dritan Nesho. “Time and again we’re seeing that ads appearing next to so-called ‘not brand safe’ news content perform just as well as ads next to ‘brand safe’ content. The findings of our U.K. study are decisive.”
The summit will commence with Penn unveiling the research results, followed by two panel discussions:
Panel I: Being A Journalist Today – Stories from the Field: A moderated conversation about the journalists today who are breaking down barriers, holding truth to power, and shining a light on the issues that matter most- despite the most difficult and dangerous of circumstances, featuring:
- Kamal Ahmed, Director of Audio and Presenter, The Daily Telegraph
- Matt Barbet, Anchor, Sky News
- James Harding, Editor & Founder, Tortoise Media
- Sam McAlister, Author, Executive Producer and LSE Senior Fellow
- Spriha Srivastava, International Executive Editor, Business Insider
- Jerome Starkey, Defence Editor, The Sun
- Moderated by Joanna Gosling, Author, Broadcaster and Journalist
Panel II: Why News Works for Brands: Investment in advertising on news platforms is not only brand safe, but also lends itself to a strong return on investment. This session will be an interactive dialogue with business leaders sharing their perspectives on the value of news and how to maximize impact through tailored marketing, featuring:
- Ross Easton, Director of External Affairs, Energy Networks Association
- Mark Evans, Marketing Society Honorary Fellow and Executive Marketeer
- Tina Fegent, Co-Chair, Conscious Advertising Network
- Moderated by Mark Penn, Chairman and CEO, Stagwell
To learn more and get involved, contact futureofnews@stagwellglobal.com.
About Stagwell
Stagwell (NASDAQ: STGW) 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 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.
About HarrisX
HarrisX is a leading global research consultancy that regularly conducts major market research, public policy polling and social science studies and consulting engagements in more than 40 countries around the world. It is a proud member of Stagwell Global (STGW). Learn more at www.harrisx.com.
Contact
Madison Wick
Pr@stagwellglobal.com
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NEW YORK, Sept. 18, 2024 /PRNewswire/ — Stagwell (NASDAW: STGW), the challenger network built to transform marketing, has appointed Sunil John as Senior Advisor, Stagwell MENA. John will head Stagwell’s forthcoming MENA office, spearheading growth and enhancing collaboration among local agencies and partners. He will also develop new client solutions, utilizing his extensive regional network to support brands aiming for both regional expansion and global reach.
John, named the Best PR Professional in the Middle East by PRWeek in 2023 and 2020, brings over three decades of regional experience to Stagwell, having founded ASDA’A BCW, the region’s leading PR consultancy and been instrumental in shaping the public relations landscape in the Arab world. During his time at ASDA’A he launched Proof Communications, a specialist digital and design firm, OnePoint5, an ESG advisory and led the annual Arab Youth Survey, the groundbreaking thought leadership platform capturing the hopes and aspirations of the 200 million Arab youth.
Additionally, as an Advisory Board Member of the Dubai International Chamber since July 2021, John has been influential in reinforcing Dubai‘s status as a global trade hub.
“Marketers who miss out on MENA will miss out on one of the biggest consumer growth stories of our decade,” said Mark Penn, Chairman and CEO, Stagwell. “As we focus on becoming more competitive internationally, Sunil’s unparalleled experience in MENA and his leadership are what Stagwell needs to deepen our presence and help our clients succeed in this crucial market.”
“I am excited to join Stagwell and contribute to its unique technology-driven offering in the marketing services landscape,” said Sunil John. “The opportunity to integrate my experience, my love of research and insights, and my focus on digital transformation and technology with Stagwell’s innovative approach will bring value to a region that is one of the fastest growing in the world. As a challenger network, I believe Stagwell will be the company that creates significant impact for our clients in the MENA region.”
John’s appointment comes at a time when Stagwell is opening a new chapter in the region after recently announcing its intent to acquire Consulum, a leading government advisory firm that specializes in strategic communications, public policy and leadership support in the MENA and other global markets.
Stagwell’s footprint across MENA includes its omnichannel media agency Assembly and global creative collective Forsman and Bodenfors. Additionally, Stagwell counts marketing and talent management agency FLC and strategic growth advisory firm Phronesis Group among its global affiliate partners in the region. With offices across Dubai, Cairo, and Riyadh, Stagwell is positioned to serve clients in a range of industries in MENA, including retail, automotive, crypto, real estate, tech and finance sectors.
The MENA region is a key growth market for Stagwell as the company pursues its goal of doubling revenue at the Company beyond North America by 2025. In 2024 to date, Stagwell has acquired seven firms, including LEADERS (Israel), Team Epiphany (U.S.), Sidekick (U.K.), What’s Next Partners (France), PROS (Brazil), Business Traveller (Global), and BERA (U.S.).
About Stagwell
Stagwell (NASDAQ: STGW) is the network created to transform marketing. We deliver creative performance at scale for the world’s most ambitious brands, connecting culture-moving creativity with cutting-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our more than 13,000 experts in more than 34 countries are united under a single purpose: to generate effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
Contact:
Kara Gelber
Pr@stagwellglobal.com
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47% OF VOTERS APPROVE OF HARRIS’ PERFORMANCE AS VICE PRESIDENT
BUT 52% APPROVE OF JOB TRUMP DID AS PRESIDENT
NEW YORK and CAMBRIDGE, Mass., Sept. 9, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW) today released the results of the September Harvard CAPS / Harris poll, a monthly collaboration between the Center for American Political Studies at Harvard (CAPS) and the Harris Poll and HarrisX.
The presidential horse race now sits at 50-50. Harris’ favorability and job approval ratings remain at 47%, while Trump holds a 47% favorability rating and 52% job approval rating.
Voters believe Harris would do a better job on abortion, climate change, and racial equality, while Trump would do a better job on the economy, immigration, crime, and China. The poll also covers public opinion on the economy and foreign policy. Download key results here.
“Harris has drawn to dead even but Trump has an edge in the underlying numbers given his higher job approval and the overall low approval of the Biden administration,” said Mark Penn, Co-Director of the Harvard CAPS / Harris poll and Stagwell Chairman and CEO.
CONGRESSIONAL AND PRESIDENTIAL HORSE RACES BOTH NECK-AND-NECK
- The presidential horse race is tied at 50-50.
- Both presidential candidates are winning their respective party bases: male (50%), white (54%), and rural (59%) voters favor Trump, while Black (71%), urban (57%), and college-educated (52%) voters favor Harris. Independent voters are split almost evenly and 33% of them say they are still weighing their final choice.
- 50% of Hispanic voters say they will vote for Harris, while 43% say they will vote for Trump — only a 7-point gap. 7% of Hispanic voters say they are still unsure.
CANDIDATES ARE PERCEIVED AS WIDELY DIFFERENT ON THE ISSUES
- Major differences emerged between how voters see Trump and how they see Harris on the issues. Harris is seen more often than not as favoring open borders, compassionate enforcement of laws, free healthcare to immigrants, and the switch to electric vehicles. Trump is seen as a stronger ally to Israel, harsher on China, and more of a defender of free speech on social media than Harris.
- Trump is seen as favoring a national ban on abortion while Harris is seen as opposing such a ban.
- 49% of voters say Harris is to the left of them politically, while 50% say Trump is to the right of them politically.
LESS THAN HALF OF VOTERS APPROVE OF CURRENT ADMINISTRATION
- Biden approval rating stayed steady at 42% from July. Among minority voters, 66% of Black voters approve, but only 39% of Hispanic voters approve.
- Less than half of voters approve of Biden’s performance across all issues, with racial equity his highest (47%) and the Israel-Hamas conflict his lowest (34%).
- 47% of voters approve of the job Harris is doing as Vice President, with high approval from Democrats (87%), Black (71%), and urban (60%) voters.
PERCEPTIONS TOWARD ECONOMY REMAIN PESSIMISTIC
- 63% of voters believe the U.S. economy is on the wrong track and 62% characterize it as weak, consistent with perceptions over the past year.
- 42% of voters named inflation as the most important issue facing the country today, up 5 points from July.
- 48% of voters say their personal financial situation is getting worse, especially among female (53%), 55-64 year-old (55%), and rural (57%) voters.
SUPPORT FOR ISRAEL OVER HAMAS UNCHANGED; YOUNG VOTERS SEEM UNINFORMED ON VENEZUELA ELECTIONS AND MANY FAVOR MADURO
- 69% of voters say a ceasefire of the Israel-Hamas war should only happen after Hamas is removed from power and all hostages are released (ages 18-24: 45%; ages 65+: 84%). When asked to choose between Israel and Hamas without the choice to remain undecided, 79% continue to favor Israel while 21% favor Hamas.
- 71% of voters say the execution of six hostages was the fault of Hamas over that of the Israeli government.
- More than half of voters have at least heard about the Venezuelan election, but 38% of voters say the Venezuelan election was not stolen by incumbent President Nicolás Maduro (ages 18-24: 49%; ages 25-34: 48%; ages 65+: 27%).
- 57% of voters say they support the protesters in Venezuela, and 60% support U.S. sanctions on Venezuela for allegations of election fraud, but 56% believe the U.S. government should not engage in another international issue.
The September Harvard CAPS / Harris poll survey was conducted online within the United States on September 4-5, 2024, among 2,358 registered voters by The Harris Poll and HarrisX. Follow the Harvard CAPS Harris Poll podcast at https://www.markpennpolls.com/ or on iHeart Radio, Apple Podcasts, Spotify, and other podcast platforms.
About The Harris Poll & HarrisX
The Harris Poll is a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. It works with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. One of the longest-running surveys in the U.S., The Harris Poll has tracked public opinion, motivations, and social sentiment since 1963, and is now part of Stagwell, the challenger holding company built to transform marketing.
HarrisX is a technology-driven market research and data analytics company that conducts multi-method research in the U.S. and over 40 countries around the world on behalf of Fortune 100 companies, public policy institutions, global leaders, NGOs and philanthropic organizations. HarrisX was the most accurate pollster of the 2020 U.S. presidential election.
About the Harvard Center for American Political Studies
The Center for American Political Studies (CAPS) is committed to and fosters the interdisciplinary study of U.S. politics. Governed by a group of political scientists, sociologists, historians, and economists within the Faculty of Arts and Sciences at Harvard University, CAPS drives discussion, research, public outreach, and pedagogy about all aspects of U.S. politics. CAPS encourages cutting-edge research using a variety of methodologies, including historical analysis, social surveys, and formal mathematical modeling, and it often cooperates with other Harvard centers to support research training and encourage cross-national research about the United States in comparative and global contexts. More information at https://caps.gov.harvard.edu/.
Contact:
Kara Gelber
pr@stagwellglobal.com
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ARound’s Stadium-Level Technology Transforms the Fan Experience for Sports Teams, Audiences, and Brands
MINNEAPOLIS, August 26 – ARound, the leader in large-scale augmented reality (AR) experiences that is part of Stagwell (NASDAQ: STGW), today launched a groundbreaking in-stadium AR experience for Minnesota United FC in partnership with Target. This marks the first integration of stadium AR technology into an MLS pregame celebration, setting a new standard for fan engagement at Allianz Field.
Building on successful partnerships with the MLB’s Minnesota Twins, NBA’s Cleveland Cavaliers, and NFL’s Los Angeles Rams, ARound’s latest initiative is a significant step in expanding its presence in live sports. Fans continue to be highly engaged with existing ARound experiences, with users interacting for an average of over 15 minutes per game.
“We are excited to bring this immersive AR experience to MLS and fans nationwide,” said Josh Beatty, Founder and CEO of ARound. “These new experiences merge physical and digital worlds in an unprecedented display of team spirit and innovation, bringing fans right into the action.
Starting August 24, 2024 and continuing throughout the season, ARound will bring to life a new Minnesota United tradition, “Loons Liftoff.” This experience allows fans to hit targets and collect points as they work as a community to summon “The Dethloon,” a nod to Minnesota United’s fan culture and beloved mascot. Participants can also scan a QR code for a chance to win a Target gift card.
“This collaboration with ARound and Target exemplifies our commitment to innovation and community,” said Evan Entler, Vice President of Digital Media at Minnesota United. “We’re excited to see how fans react to this unique blend of tradition and cutting-edge technology.”
About ARound
ARound is a first-of-its-kind stadium-level shared augmented reality platform and is part of the Stagwell Marketing Cloud, a proprietary suite of SaaS solutions built for the modern marketer. ARound keeps audiences engaged by capturing their attention through immersive, interactive and shared experiences with fellow fans across the venue. Where other AR products offer isolating, singular experiences, ARound’s massive multi-user AR – which uses 3D spatial computing to localize content – redefines what it means to be part of a connected fan experience. It was the winner of Stagwell’s annual innovation competition which invests in new product ideas proposed by the network’s 13,000+ employees. ARound and the Stagwell Marketing Cloud are a part of Stagwell (NASDAQ: STGW), the challenger network built to transform marketing.
About Minnesota United FC
Minnesota United FC is a professional soccer team based in Minneapolis, Minnesota, competing in Major League Soccer (MLS). Known for their passionate fanbase and strong community ties, Minnesota United FC embodies the spirit of soccer in the North.
About Target
Target Corporation is a leading American retailer headquartered in Minneapolis, Minnesota. Known for its community involvement and innovative partnerships, Target continues to enhance the consumer experience through cutting-edge technology and creative collaborations.
Contact:
Kara Gelber
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Management to appear at events hosted by Citi, Benchmark, Goldman Sachs, B. Riley and Deutsche Bank
NEW YORK, Aug. 22, 2024 /PRNewswire/ — Stagwell Inc. (NASDAQ: STGW), the challenger network built to transform marketing, today announced its participation in several investor conferences throughout September 2024.
- September 4: Citi 2024 Global Technology Conference in New York City – Management will be available for 1×1 meetings.
- September 5: Benchmark 11th Annual TMT One-on-One Conference in New York City – Management will be available for 1×1 meetings.
- September 10: Goldman Sachs Communacopia in San Francisco – Chairman and CEO Mark Penn will host a fireside chat and be available for 1×1 meetings.
- September 12: B. Riley Securities 7th Annual Consumer and TMT Conference in New York City – Management will host be available for 1×1 meetings.
- September 25: Deutsche Bank Leveraged Finance Conference – Phoenix – Chief Financial Officer Frank Lanuto will be available for 1×1 meetings.
Visit this page to view upcoming investor events and programming from Stagwell. Reach out to ir@stagwellglobal.com with questions.
About Stagwell
Stagwell (NASDAQ: STGW) 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 specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. www.stagwellglobal.com.
IR Contact:
Ben Allanson
ir@stagwellglobal.com
NEW YORK, Aug. 16, 2024 /PRNewswire/ — Stagwell Inc. (NASDAQ: STGW), the challenger network built to transform marketing, will host a virtual fireside chat at the Rosenblatt Securities 4th Annual Technology Summit on August 20, 2024. The session will feature Mark Penn, Chairman and CEO, discussing the impact of AI on marketing innovation, as well as product development within the company’s AI-enabled Stagwell Marketing Cloud. Management will be available for 1×1 meetings with investors upon request.
Visit this page to view upcoming investor events and programming from Stagwell. Reach out to ir@stagwellglobal.com with questions.
About Stagwell
Stagwell (NASDAQ: STGW) 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 specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. www.stagwellglobal.com.
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Stagwell’s Code and Theory, Colle McVoy Lead Digital and Brand Relaunch of The Minnesota Star Tribune
Minnesota’s biggest media outlet announces new platform at a vital time for journalism
MINNEAPOLIS, Aug. 19, 2024 /PRNewswire/ — The Minnesota Star Tribune relaunched today under a new brand platform for its audience as ‘The Heart and Voice of the North.’ Following a reimagination of its technology products, reporting focus, and growth strategy, the company has positioned itself for a new chapter in a dynamic and challenging time for journalism. Adding Minnesota to its nameplate to signal an expanded, state-wide focus going forward, the company’s mission is to connect the people, ideas, and stories that strengthen Minnesota’s communities.
“We’re thrilled to relaunch as the Minnesota Star Tribune at such an important time for our state,” said Steve Grove, CEO and Publisher. “It’s not every day you get to reimagine a 157-year-old publication for a new era – so we don’t take this moment lightly. We’ve spent the last year investing in more journalism in more locations on top of a stronger platform. We’re relaunching ourselves under a new name because we want Minnesotans to know what we believe: that this state deserves the strongest local news organization in America at a time of so much change.”
Driving innovation for a digital future
The Minnesota Star Tribune recently relaunched its entire digital product ecosystem including startribune.com and mobile apps. The greatly enhanced reader experience includes a complete back-end website rebuild in partnership with tech powerhouse Code and Theory. This digital reboot is designed to ensure all news and editorial content is responsive across all platforms while meeting the highest standards for digital integrity and security. The rebuild also positions the Minnesota Star Tribune to take advantage of new and emerging product offerings and was done under the leadership of new Chief Product Officer Aron Pilhofer.
“Today’s news consumers demand best-in-class digital experiences, and we’re now set to provide that well into the future,” said Pilhofer. “Our new tech stack will allow us to continue to innovate to reach our audiences in new ways to keep them better informed and engaged.”
Reimagining news coverage and expanding statewide
Earlier this year, the Minnesota Star Tribune announced plans to expand coverage in Greater Minnesota and embarked on an ongoing series of community conversations across the state including in Mankato, Duluth, Moorhead, St. Cloud, Brainerd, Rochester and several locations throughout the Twin Cities metro area. The Minnesota Star Tribune currently has 10 reporters and editors focused on Greater Minnesota, after adding reporting resources including a Greater Minnesota Columnist, a Southeast Minnesota Reporter, a North Central Minnesota Reporter, and a Southwest Minnesota Reporter, and it will continue growing its reporting roster. It is also forming partnerships with Minnesota news organizations to elevate local news content from other sources on its own platforms and beyond.
In addition, the Minnesota Star Tribune recently announced advancements of its newsroom structure and leadership to better serve readers. News coverage, leadership and resources will realign around its five key topic areas of News and Politics, Business, Sports, Food and Culture, and Outdoors.
“We’re reshaping our coverage to focus more squarely on issues and topics essential to Minnesotans,” said Suki Dardarian, Editor and Senior Vice President of the Minnesota Star Tribune. “Our readers have helped inform this approach, which aims to provide richer coverage that reflects the diversity, soul and spirit of Minnesota, along with our hallmark enterprise and accountability reporting.”
Representing a diversity of voices
The Minnesota Star Tribune also recently announced the creation of Strib Voices, a reimagination of its opinion and commentary team under the new leadership of award-winning editorial writer and columnist Phil Morris. With a refreshed focus on representing diverse voices from multiple spectrums, Strib Voices will feature greater quantity and breadth of columns and bylined opinion pieces.
In addition, earlier this year, Kavita Kumar was promoted to community engagement director, and is proactively seeking commentary pieces and other content that covers various aspects of geography, demographics and political affiliations across Minnesota.
“By bringing together all of our opinion work under Strib Voices, our hope is to create the most dynamic and thoughtful water cooler for statewide news in the country,” said Phil Morris, Vice President and Opinion Editor for the Minnesota Star Tribune.
Reimagining the brand
To complement the vast transformation, the Minnesota Star Tribune has built a new brand identity and design structure to convey its ambition for audiences everywhere. The company partnered with Minnesota-based creative agency Colle McVoy to develop this brand strategy and identity, built for the future of media consumption. In addition to a new name, the brand refresh includes a new nameplate, new logo, new color systems, new sets of typography, a new mascot (Stribby the Gray Duck), and a new brand platform as ‘The Heart and Voice of the North.’
“Yes, we added ‘Minnesota‘ to our name – yet this rebrand goes far beyond a new title,” said Chris Iles, Vice President of Communications and Brand Marketing for the Minnesota Star Tribune. “We’re Minnesotans just like our audience, and believe that our state, in an oft overlooked and underestimated region of the country, deserves to view itself for what it is: the ‘Heart and Voice of the North.’ Our campaign leans into all things Minnesota, as we leverage our trusted and established brand to elevate a community and place that loyal subscribers and new audiences will be proud of.”
Positioning for future growth
In addition to the transformational work already completed under new publisher and CEO Steve Grove, the Minnesota Star Tribune has a robust slate of upcoming changes designed to further position it for future success. These include the launch of a philanthropic arm, an enhanced sponsored-content strategy, a novel approach to affiliate marketing and much more.
“The talented team at the Minnesota Star Tribune has accomplished so much over the past year, and we’re just getting started,” said Steve Grove. “As we drive innovation in media to make every Minnesotan’s life better, we hope our loyal and new readers will join us on this journey.”
The Minnesota Star Tribune’s owner, Glen Taylor, said he believes this is the beginning of a new chapter for an institution he cares about deeply.
“I’m incredibly excited by what our new leadership team has put into place at an important moment for our state,” Taylor said. “The Minnesota Star Tribune is a state treasure, one we believe can accomplish truly great things with the support of our audience and partners.”
To celebrate its relaunch, the Minnesota Star Tribune is offering new subscribers the special rate of just $1 for 6 months of premium digital access.
About The Minnesota Star Tribune Media Company
The Minnesota Star Tribune is an innovative modern media organization building on an extraordinary 157-year legacy. With seven Pulitzer Prizes and hundreds of other awards, the Minnesota Star Tribune boasts the Midwest’s largest news organization and is an unrivaled force for journalistic excellence in Minnesota and beyond. As the heart and voice of the north, the Minnesota Star Tribune is on a journey to create the leading model for local news in America – driving innovation in media to make every Minnesotan’s life better. For more information, visit www.startribunecompany.com.
Contact:
Chris Iles
612-366-0427
chris.iles@startribune.com
SOURCE The Minnesota Star Tribune
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Revenue Growth of 6%, Led by 42% Growth in Advocacy
Net Loss Attributable to Stagwell Inc. Common Shareholders of $3 million
Adjusted EBITDA of $86 million; Adjusted EBITDA Margin of 16%
EPS of $(0.03); Adjusted EPS of $0.14
Announces Record Net New Business Led by Largest New Business Win
Net New Business of $113 million in Q2; LTM Net New Business of $324 million
Reaffirm Guidance for 2024 of Organic Net Revenue Growth of 5% to 7%; Adjusted EBITDA of $400 million to $450 million; Free Cash Flow Conversion of ~50%
New York, NY, August 1, 2024 (NASDAQ: STGW) – Stagwell Inc. (“Stagwell”) today announced financial results for the three and six months ended June 30, 2024.
SECOND QUARTER RESULTS:
- Q2 Revenue of $671 million, an increase of 6% versus the prior year period; H1 Revenue of $1.3 billion, an increase of 7% versus the prior year period
- Q2 Net Loss attributable to Stagwell Inc. Common Shareholders of $3 million versus $3 million in the prior year period; H1 Net Loss attributable to Stagwell Inc. Common Shareholders of $4 million versus Income of $2 million in the prior year period
- Q2 Adjusted EBITDA of $86 million, a decrease of 6% versus the prior year period; H1 Adjusted EBITDA of $176 million, an increase of 8% versus the prior year period
- Q2 Adjusted EBITDA Margin of 16% on net revenue; H1 Adjusted EBITDA Margin of 16% on net revenue.
- Q2 Earnings Per Share Attributable to Stagwell Inc. Common Shareholders of $(0.03) versus $(0.03) in the prior year period; H1 Earnings Per Share Attributable to Stagwell Inc. Common Shareholders of $(0.04) versus $(0.01) in the prior year period.
- Q2 Adjusted Earnings Per Share attributable to Stagwell Inc. Common Shareholders of $0.14 versus $0.18 in the prior year period; H1 Adjusted Earnings Per Share attributable to Stagwell Inc. Common Shareholders of $0.30 versus $0.31 in the prior year period.
- Net new business wins of $113 million in the second quarter, last twelve-month net new business wins of $324 million.
- Q2 Net Revenue of $554 million, an increase of 2% versus the prior year period; H1 Net Revenue of $1.1 billion, an increase of 2% versus the prior year period
- Q2 Organic Net Revenue increased 1.2% versus the prior year period; H1 Organic Net Revenue increased 1.5% versus the prior year period
Mark Penn, Chairman and CEO, said, “Stagwell delivered solid results this quarter with record-smashing net new business wins of $113 million, bringing our last twelve-month net new business figure to $324 million. Success for the year continues to build, with new business wins from General Motors, Macy’s, Target, and Zales just coming online to bolster H2. Additionally, the momentum is continuing, with wins already coming in Q3, and an active political season that has been energized even further by recent developments.
We are at a critical inflection point as we grow our capabilities, enabling us to land $20 to $40 million remits, while expanding our AI deployments, Stagwell Marketing Cloud capabilities, and our global reach. We are seeing these strategies come together now to set the stage for a strong H2 and 2025,” added Penn.
Frank Lanuto, Chief Financial Officer, commented: “Driven by record-breaking net new business and strong growth in Creativity & Communications, Advocacy, and Performance Media & Data, Stagwell delivered solid second quarter revenue of $671 million, a 6% increase over the prior year. While improving our comp-to-net revenue ratio, we invested in initiatives to build and convert our revenue pipeline into new business, including the successful SPORT BEACH activation at Cannes. The multiple $10 million-plus wins in Q2 and early Q3 confirm our growth strategy and bolster our confidence in our full-year guidance.”
Financial Outlook
2024 financial guidance is reiterated as follows:
- Organic Net Revenue growth of 5% to 7%
- Organic Net Revenue excluding Advocacy growth of 4% to 5%
- Adjusted EBITDA of $400 million to $450 million
- Free Cash Flow Conversion of approximately 50%
- Adjusted EPS of $0.75 – $0.88
- Guidance assumes no impact from foreign exchange, acquisitions or dispositions.
| * The Company has excluded a quantitative reconciliation with respect to the Company’s 2024 guidance under the “unreasonable efforts” exception in Item 10(e)(1)(i)(B) of Regulation S-K. See “Non-GAAP Financial Measures” below for additional information. |
Video Webcast
Management will host a video webcast on Thursday, August 1, 2024, at 8:30 a.m. (ET) to discuss results for Stagwell Inc. for the three and six months ended June 30, 2024. The video webcast will be accessible at https://stgw.io/Earnings. An investor presentation has been posted on our website at www.stagwellglobal.com and may be referred to during the webcast.
A recording of the webcast will be accessible one hour after the webcast and available for ninety days at www.stagwellglobal.com.
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 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.
Contacts
For Investors:
Ben Allanson
For Press:
Beth Sidhu
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:
(1) Organic Revenue: “Organic revenue growth” and “Organic revenue decline” reflects the year-over-year change in the Company’s reported net revenue attributable to the Company’s management of the entities it owns. We calculate organic net revenue growth (decline) by subtracting the net impact of acquisitions (divestitures) and the impact of foreign currency exchange fluctuations from the aggregate year-over-year increase or decrease in the Company’s reported net revenue. The net impact of acquisitions (divestitures) reflects the year-over-year change in the Company’s reported net revenue attributable to the impact of all individual entities that were acquired or divested in the current and prior year. We calculate impact of an acquisition as follows: (a) for an entity acquired during the current year, we present the entity’s prior year net revenue for the same period during which we owned it in the current year as impact of the acquisition in the current year; and (b) for an entity acquired in the prior year, we present the entity’s prior year net revenue for the period during which we did not own the entity in the prior year as impact of the acquisition in the current year. We calculate impact of a divestiture as follows: (a) for a divestiture in the current year, we present the entity’s prior year net revenue for the same period during which we no longer owned it in the current year as impact of the divestiture in the current year; and (b) for a divestiture in the prior year, we present the entity’s prior year net revenue for the period during which we owned it in the prior year as impact of the divestiture in the current year. We calculate the impact of any acquisition or divestiture without adjusting for foreign currency exchange fluctuations. The impact of foreign currency exchange fluctuations reflects the year-over-year change in the Company’s reported net revenue attributable to changes in foreign currency exchange rates. We calculate the impact of foreign currency exchange fluctuations for the portion of the reporting period in which we recognized revenue from a foreign entity in both the current year and the prior year. The impact is calculated as the difference between (1) reported prior period net revenue (converted to U.S. dollars at historical foreign currency exchange rates) and (2) prior period net revenue converted to U.S. dollars at current period foreign exchange rates.
(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) Adjusted Diluted EPS is defined as (i) Net income (loss) attributable to Stagwell Inc. common shareholders, plus net income attributable to Class C shareholders, excluding amortization expense, impairment and other losses, stock-based compensation, deferred acquisition consideration adjustments, discrete tax items, and other items, divided by (ii) (a) the per weighted average number of common shares outstanding plus (b) the weighted average number of Class C shares outstanding, (if dilutive). Other items includes restructuring costs, acquisition-related expenses, and non-recurring items, and subject to the anti-dilution rules.
(5) 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. Free Cash Flow Conversion is the percentage of adjusted EBITDA.
Included in this earnings release are tables reconciling reported Stagwell Inc. results to arrive at certain of these non-GAAP financial measures.
This document contains forward-looking statements. within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company’s representatives may also make forward-looking statements orally or in writing from time to time. Statements in this document that are not historical facts, including, statements about the Company’s beliefs and expectations, future financial performance, growth, and future prospects, the Company’s strategy, business and economic trends and growth, technological leadership and differentiation, potential and completed acquisitions, anticipated operating efficiencies and synergies and estimates of amounts for redeemable noncontrolling interests and deferred acquisition consideration, constitute forward-looking statements. Forward-looking statements, which are generally denoted by words such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “create,” “develop,” “estimate,” “expect,” “focus,” “forecast,” “foresee,” “future,” “goal,” “guidance,” “in development,” “intend,” “likely,” “look,” “maintain,” “may,” “ongoing,” “opportunity,” “outlook,” “plan,” “possible,” “potential,” “predict,” “probable,” “project,” “should,” “target,” “will,” “would” or the negative of such terms or other variations thereof and terms of similar substance used in connection with any discussion of current plans, estimates and projections are subject to change based on a number of factors, including those outlined in this section.
Forward-looking statements in this document are based on certain key expectations and assumptions made by the Company. Although the management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The material assumptions upon which such forward-looking statements are based include, among others, assumptions with respect to general business, economic and market conditions, the competitive environment, anticipated and unanticipated tax consequences and anticipated and unanticipated costs. These forward-looking 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. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the Company’s control. Therefore, you should not place undue reliance on such statements. 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.
Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Such risk factors 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
- demand for the Company’s services, which may precipitate or exacerbate other risks and uncertainties;
- inflation and actions taken by central banks to counter inflation;
- the Company’s ability to attract new clients and retain existing clients;
- the impact of a 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 compete in the markets in which it operates;
- the Company’s ability to achieve its 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 Company’s ability to manage its growth effectively;
- the Company’s ability to identify, complete and integrate acquisitions that complement and expand the Company’s business capabilities, to identify and complete divestitures and to achieve the anticipated benefits therefrom;
- the Company’s ability to develop products incorporating new technologies, including augmented reality, artificial intelligence, and virtual reality, and realize benefits from such products;
- the Company’s use of artificial intelligence, including generative artificial intelligence;
- adverse tax consequences for the Company, its operations and its stockholders, that may differ from the expectations of the Company, including that future changes in tax laws, potential increases to corporate tax rates in the United States and disagreements with tax authorities on the Company’s determinations that may result in increased tax costs;
- adverse tax consequences in connection with the Transactions, including the incurrence of material Canadian federal income tax (including material “emigration tax”);
- the Company’s unremediated material weaknesses in internal control over financial reporting and its ability to establish and maintain an effective system of internal control over financial reporting, including the risk that the Company’s internal controls will fail to detect misstatements in its financial statements;
- the Company’s ability to accurately forecast its future financial performance and provide accurate guidance;
- the Company’s ability to protect client data from security incidents or cyberattacks;
- economic disruptions resulting from war and other geopolitical tensions (such as the ongoing military conflicts between Russia and Ukraine and in Israel and Gaza), terrorist activities and natural disasters;
- stock price volatility; 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 our 2023 Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2024, 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 Survey by Stagwell (STGW)’s The Harris Poll Highlights Critical Gaps in Postpartum Maternal Health Education and Support in the U.S.
NEW YORK, July 31, 2024 /PRNewswire/ — In conjunction with World Breastfeeding Week which starts tomorrow, The Harris Poll, a Stagwell Agency, is releasing additional data from its second annual State of Maternal Health Report, revealing significant shortcomings in the health information and support women in the U.S. receive throughout their pregnancy and postpartum journey. Key findings from the survey, conducted online in April of 2024 among more than 1,000 U.S. women aged 18+, indicate a worrying trend: pregnant women in the U.S. are being underserved when it comes to postpartum education and support.
Two in 5 women who have been pregnant (40%) report receiving insufficient (22%) or no information/ resources at all (18%) from their healthcare providers (HCPs) on the topic of breastfeeding, according to the survey. The gap widens when it comes to mental health, with more than half of women who have been pregnant (53%) likely under-supported as they did not receive any (40%) or enough (13%) information/resources on postpartum depression.
“These statistics are not just numbers; they represent the real struggles of mothers nationwide, including myself, who feel neglected by the systems meant to support them,” expressed Christina Lojek, Research Manager at The Harris Poll. “Fueled by my own experiences, I chose to lead this study, and it solidifies how imperative it is that we improve postpartum support and education for mothers, who are clearly asking for and deserving of much better care.”
Lack of education on postpartum depression is even more distressing given how much more widespread this health issue is becoming. About 1 in 8 women who are currently pregnant or have been pregnant (13%) say they were diagnosed with postpartum depression by a medical professional – this jumps to 29% among women ages 18-34, versus 10% among women ages 35+.
The need for better postpartum care, in general, is also evident. Roughly 1 in 4 women who have been pregnant (24%) rate their postpartum care as less than adequate. Postpartum care unfortunately appears to be on the decline, with over a third of women ages 18-34 who have been pregnant (36%) citing subpar care, compared to just 22% of women ages 35+. Additionally, a substantial 74% of all women agree that there isn’t enough focus on postpartum healthcare for mothers, and nearly two thirds (64%) feel that mothers are often forgotten once the baby arrives.
Another significant way that women are being neglected postpartum is the lack of federal maternity leave in the U.S. The survey highlights a strong consensus on the importance of maternity leave, with nearly all women affirming its pivotal role in improving health outcomes for both mothers and their babies (90%, each). Despite this, dissatisfaction with U.S. maternity leave policies is evident, as a significant majority of women (73%) consider the leave provided by most U.S. employers insufficient, indicating a need for reform. Nearly 3 in 5 women (58%) believe that the standard minimum length of paid maternity leave should be extended to at least 12 weeks, with about a quarter advocating for 20 weeks or more, and 11% suggesting a minimum of 26 weeks.
The weeks and months after giving birth are crucial to both mother and baby, not only to give them time to bond, but to allow mothers to recover and focus on caring for and nourishing their babies. When specifically looking at breastfeeding, the benefits are widespread, from aiding with bonding, to protecting both mother and baby from various health risks. Furthermore, according to a study published by HHS, there is a direct correlation between length of maternity leave and breastfeeding initiation and prolonged duration. Yet, current U.S. maternity leave policies, or lack thereof, do not support this.
Shockingly, almost two thirds of women (64%) are unaware that the U.S. lacks federal paid maternity leave. This finding underscores a significant information deficit that could leave many expecting mothers in a position where they need to choose between prioritizing the wellbeing of themselves and their baby or their job.
At the start of World Breastfeeding week, these findings are even more concerning and paint a dire picture of the critical need for comprehensive educational programs, substantial policy changes, and a stronger support system for mothers during and after pregnancy. This is a wake-up call for all stakeholders involved in maternal healthcare to strengthen support structures and ensure mothers receive the care and information they need to safeguard the health and well-being of both mothers and their children.
If you or someone you know are currently pregnant or plan to be pregnant in the future, please consider checking out the below resources/information to better support that journey.
- To better support your breastfeeding journey:
- Reach out to your insurance company before giving birth to understand lactation support benefits, in-network lactation consultants, and to find out how to get a free breast pump
- Work with a lactation specialist after delivering (the hospital has them on staff), and/or consider seeing one in the weeks after giving birth
- Check with your HCP/delivering hospital about local breastfeeding cafes, which provide peer support and are often led by a lactation specialist
- To ensure you are getting the maximum allowed leave time if you are employed, ask your employer about their maternity leave policy and how it works in conjunction with state disability and/or state paid family leave
- To better support your mental health during and after pregnancy, ask your healthcare provider(s) about signs of depression/PPD and anxiety/PPA to look out for and resources to help manage these issues
Survey Method:
The 2024 State of Maternal Health survey was conducted online in the U.S. by The Harris Poll April 2-4, 2024 among 2,061 U.S. adults ages 18+, among whom 1,116 are women, and 701 are women who are currently pregnant or have ever been pregnant. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact christina.lojek@harrispoll.com.
About The Harris Poll
The Harris Poll is a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. It works with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. One of the longest-running surveys in the U.S., The Harris Poll has tracked public opinion, motivations and social sentiment since 1963, and is now part of Stagwell, the challenger holding company built to transform marketing. To learn more, please visit www.theharrispoll.com
Contact:
Christina Lojek
christina.lojek@harrispoll.com
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Unifying Stagwell’s digital transformation agencies provides greater scale and growth opportunities for clients
NEW YORK, July 31, 2024 /PRNewswire/ — The Code and Theory Network, Stagwell’s digital transformation network, has expanded to include Instrument and Left Field Labs. The move strategically aligns Stagwell’s individual digital transformation agencies under the Code and Theory Network to create unparalleled digital transformation capabilities unseen in the market today.
This expansion bolsters the Code and Theory Network, which is the only end-to-end digital transformation network backed by 50% engineers and 50% creatives at scale.
The Code and Theory Network now consists of Code and Theory, Instrument, Kettle, Truelogic, Left Field Labs (LFL), Rhythm and Mediacurrent.
Together, the Code and Theory Network is positioned to deliver comprehensive value from concept to continuity, serving as strategic partners in AI-driven transformation. Its human-led, tech-powered approach embeds AI into its capabilities, delivering practical, tangible benefits for its clients.
Instrument is a design and technology company dedicated to helping brands unlock their full potential. It comprises its first all-women C-suite, which underscores its commitment to diversified perspectives in leadership. Across the verticals of brand, product and marketing, Instrument continues to experience tremendous growth, across a diverse set of new and long-standing partners.
Left Field Labs is the creative technology and innovation partner for some of the world’s most ambitious brands — where people go to build what’s next. Recently, LFL spotlighted Google Search’s new, more innovative modalities utilizing AI and AR. LFL conceptualized, designed and built a new website to drive product demos and Google app downloads, which launched to celebrate Search’s 25-year anniversary. Other clients include Amazon, Hasbro, Disney, Verizon and Uber.
As part of the Code and Theory Network, Instrument and Left Field Labs have the opportunity to further elevate their creative and engineering capabilities while maintaining their distinct cultures. They will benefit from complementary specialty digital expertise, centralized resources and expanded collaboration for shared growth. Additionally, they can leverage the Code and Theory Network’s flexible nearshore and offshore engineering talent with expertise across North America, South America and Asia.
This expansion builds on a historic year for Code and Theory, the leading digital transformation agency, recently recognized as Ad Age’s Business Transformation Agency of the Year, ANA B2B Agency of the Year and the Ace Awards Agency of the Year, winning Gold at New York Festivals and more.
Code and Theory has seen an influx of top talent this year having brought on Craig Elimeliah (formerly of VML and Lippe Taylor) as Chief Creative Officer, Raj Bhatia, (formerly of Deloitte Digital) as Global Chief Technology Officer, and Co-Heads of Production Julia LaRose (formerly of Accenture) and Christine Clark (formerly of Thinkingbox).
Dan Gardner, Co-Founder and Executive Chair of Code and Theory, says: “In a world where emerging technology like AI is undeniably going to transform companies, there is still a lot of confusing noise and misdirected hype. Our unique strategy to ensure our solutions are meaningful has remained consistent: combine creativity and technology to find the opportunities of tomorrow. With the addition of these new companies, we have created the ultimate challenger agency to the legacy consultancies and rigid holding companies that can’t deliver the modern model required to outperform our clients’ expectations.”
Michael Treff, CEO, Code and Theory says, “The Code and Theory Network is best positioned to solve our client’s hardest challenges, most of which focus on accelerating growth through creativity and technology. The addition of Left Field Labs and Instrument adds a depth of innovation and new and unique capabilities as well as unparalleled CX scale. With these additions, we are better able to provide strategically sound solutions and deliver measurable outcomes for our clients.”
Laurel Burton, CEO, Instrument says: “We are at one of those moments of the technology curve where you need trusted brands that not only know how to implement technology, but also design innovative use cases that deliver tremendous long-term value. Being part of the Code and Theory Network gives Instrument the scale to deliver on a global stage as we look to our next chapter of growth. We are committed to finding forward-looking solutions for age-old challenges — creating work that has a lasting impact.”
Sarah Richardson Mehler, CEO, Left Field Labs says: “As a part of the Code and Theory Network, Left Field Labs can offer our clients the opportunity to innovate at scale to build for the future. The network shares a fundamental belief that convergence of emerging technologies will change businesses, industries and the Internet as a whole. I couldn’t be more thrilled to be part of the Code and Theory network and all that we are unlocking together.”
About Code and Theory Network
Code and Theory Network is the only network with a balance of 50% creative and 50% engineers at scale. The technology-first group within Stagwell Group is built to partner with businesses to navigate the complexity of changing consumer behaviors, emerging technologies and AI. With a global footprint and the capabilities to work across the entire consumer journey, we crave the hardest problems to solve. The network includes the flagship agency Code and Theory as well as Instrument, Kettle, Left Field Labs, Truelogic, Rhythm and Mediacurrent. Code and Theory clients include Amazon, JPMorgan Chase, Microsoft, MSNBC, NFL, Pfizer and Zappos. For more, visit codeandtheory.com
About Instrument
Instrument is a multidisciplinary creative company that redefines brands and experiences, with offices in Portland, Oregon, New York, New York and Los Angeles, California. We are a dynamic group of creative technologists and storytellers that use the power of design and technology to co-create groundbreaking work with our clients. We connect brands like never before — helping organizations reimagine the most valuable pieces of their digital ecosystem. With deep talent in the areas of Strategy, Design, Development and Content Creation, we build modern experiences for ambitious brands.
About Left Field Labs
Left Field Labs is a digital agency dedicated to solving our common challenges through uncommon creativity. Our team of over 100 designers, developers and strategists has launched hundreds of digital products and experiences — from VR and websites to apps and experiential installations — for clients, such as Google, Discovery, Android, Estée Lauder, Uber and Disney.
Contact:
Kenneth Hein
kenneth.hein@codeandtheory.com
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79% OF VOTERS APPROVE OF BIDEN’S DECISION TO STEP DOWN
KAMALA HARRIS ENJOYS A 9 POINT JUMP IN FAVORABILITY FOLLOWING HER ANOINTMENT AS THE FRONTRUNNER DEMOCRATIC CANDIDATE
TRUMP LEADS HARRIS BY 3 POINTS, DOWN FROM HIS JUNE 7 POINT LEAD ON BIDEN
NEW YORK and CAMBRIDGE, Mass., July 30, 2024 /PRNewswire/ — Stagwell (NASDAQ: STGW) today released the results of the July Harvard CAPS / Harris poll, a monthly collaboration between the Center for American Political Studies at Harvard (CAPS) and the Harris Poll and HarrisX. The new poll found that after an unprecedented month in American politics that witnessed a failed assassination attempt on former President Trump and President Biden stepping aside in favor of Vice President Harris running as the Democratic candidate in November, the horserace has reset to a 3-point lead for Trump, 48% to 45%, with 7% still undecided.
Both Trump and Harris have benefited from a jump in favorability due to these events, now tied at 48% and 47% favorability, respectively. Nevertheless, with 24% of voters saying they could change their mind, the matchup is highly competitive.
“The Democratic Party has recovered from what was a Titanic — the iceberg of age was sinking them rapidly,” said Mark Penn, Co-Director of the Harvard CAPS / Harris poll and Stagwell Chairman and CEO. “Kamala Harris has come with lifeboats to put the race back where it was.”
The July poll covers public opinion on the candidates and the GOP policy platform coming out of the Republican National Convention. Download key results here.
HARRIS RE-ENERGIZES DEMOCRATS
- 79% of voters approve of Biden’s decision to step down, and 55% approve of his endorsement of Harris including 92% of Democrats.
- Compared to June, more Democrats say they would vote for the Democratic candidate (+5 points), and less Independents are unsure of who they would vote for (-10 points). Most of those undecided Independent voters say they would vote for Harris (Harris: +7 points; Trump: +3 points).
- Harris performs better among minority voters with the support of a plurality of women (48%), Black (67%), and Hispanic (47%) voters.
- 24% of voters say they have not made up their mind on who they will vote for, including 20% of Democrats, 17% of Republicans, and 41% of Independents.
BIDEN’S DECISION TO STEP ASIDE HAS LITTLE IMPACT ON APPROVAL RATINGS
- Biden’s approval rating remains low at 42%, up 2 points from June.
- 54% of voters say they approve of the job Trump did as president, up 2 points from June. Among minority voters, 53% of Hispanic voters and 40% of Black voters approve.
- Across political parties, inflation remains the most important issue to voters personally. 48% of voters say their personal financial situation is worsening, especially among women (53%), Hispanic (51%), and rural (57%) voters.
- 65% of Black voters approve of the Democratic Party, while 59% of white voters and 52% of Hispanic voters disapprove.
HARRIS WINS ON PERSONALITY BUT IS SEEN AS CONTINUITY OF BIDEN, DIVERGING FROM ELECTORATE ON KEY POLICY PREFERENCES
- Between the two candidates, more voters believe Harris has the right temperament, is more trustworthy, and is more honest, while more voters perceive Trump as a fighter and someone who will get things done.
- 67% of voters say Harris will continue Biden administration policies on issues like taxes, inflation, immigration, and energy. Roughly half believe she is politically aligned with Biden.
- A majority of voters oppose open borders (67%), ending private healthcare options (68%), and mandating the replacement of gas cars with electric vehicles (72%) — but a majority believe Harris supports those policies (borders: 69%; healthcare: 53%; electric vehicles: 72%).
- Josh Shapiro and Mark Kelly are the VP nominees who would be most helpful to Harris.
MAJORITY OF VOTERS SUPPORT GOP PLATFORM COMING OUT OF THE CONVENTION
- A majority of voters support GOP platform initiatives like protecting social security and Medicare, ending inflation, and stopping violence and crime, including over 89% of Republicans and over 79% of Independents across every policy issue.
- 33% of voters think the Republican Party left out abortion from its policy platform because the party believes it is a state decision. A plurality of Democratic (31%), 18-24 year-old (23%), and Black (24%) voters believe the party has a secret plan to ban abortion.
- 45% of voters and 76% of Republicans approve of J.D. Vance as Trump’s running mate, but roughly half of voters say the selection has no impact on their vote.
VOTERS SUPPORT ISRAEL IN THE FACE OF HEZBOLLAH ATTACKS, WANT GAZA TO BE ADMINISTERED BY ARAB NATIONS
- 66% of voters believe Israel should retaliate if Hezbollah keeps firing rockets into the north (age 18-24: 46%; ages 65+: 82%).
- 82% of voters say Hamas should be removed from power in Gaza, consistent with June sentiment.
- A plurality of voters (38%) think Gaza should be administered by a new authority set up through negotiations with Arab nations.
The July Harvard CAPS / Harris poll survey was conducted within the United States on July 26-28, 2024, among 2,196 registered voters by The Harris Poll and HarrisX. Follow the Harvard CAPS Harris Poll podcast at https://www.markpennpolls.com/ or on iHeart Radio, Apple Podcasts, Spotify, and other podcast platforms.
About The Harris Poll & HarrisX
The Harris Poll is a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. It works with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. One of the longest-running surveys in the U.S., The Harris Poll has tracked public opinion, motivations, and social sentiment since 1963, and is now part of Stagwell, the challenger holding company built to transform marketing.
HarrisX is a technology-driven market research and data analytics company that conducts multi-method research in the U.S. and over 40 countries around the world on behalf of Fortune 100 companies, public policy institutions, global leaders, NGOs and philanthropic organizations. HarrisX was the most accurate pollster of the 2020 U.S. presidential election.
About the Harvard Center for American Political Studies
The Center for American Political Studies (CAPS) is committed to and fosters the interdisciplinary study of U.S. politics. Governed by a group of political scientists, sociologists, historians, and economists within the Faculty of Arts and Sciences at Harvard University, CAPS drives discussion, research, public outreach, and pedagogy about all aspects of U.S. politics. CAPS encourages cutting-edge research using a variety of methodologies, including historical analysis, social surveys, and formal mathematical modeling, and it often cooperates with other Harvard centers to support research training and encourage cross-national research about the United States in comparative and global contexts. More information at https://caps.gov.harvard.edu/.
Contact:
Kara Gelber
pr@stagwellglobal.com
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May 19, 2025
Stagwell (STGW) Appoints Connie Chan as Chief Growth Officer for Asia Pacific
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