Agency news you need to know this week

Stagwell's results Stagwell's first-quarter organic net revenue fell 3%. CEO Mark Penn said during a conference call that the holding company's results are in line with expectations given trends in tech, finance and banking. “The tech industry, which is 18% of our net revenue and grew 32% for us in 2022 … grew only 3% in Q1 as these companies went into slowdown mode, but we still managed some growth out of them,” he said. “We're seeing some lifting of the curtain there now as tech earnings were solid this quarter.” Stagwell still expects organic net revenue growth of 7.5% to 10% this year. “We expect to return to double-digit growth in the later quarters, especially given strong new business wins within the quarter and after the close,” Penn said in a press release. The holding company also announced it would repurchase 23.3 million of its shares from AlpInvest Partners, the private-equity firm owned by global asset manager Carlyle Group, for about $150 million. Also, Stagwell Media, an investment fund backed by billionaire Steve Ballmer and Penn, is nearing an agreement to close out AlpInvest’s remaining interest in that fund. AlpInvest invested $260 million in Stagwell Media in 2018. Horizon celebrates working moms This Mother’s Day, Horizon Media is highlighting working moms and their experiences in the workplace as part of its second annual “Mother of all Titles” campaign. The media agency is also releasing a study of more than 1,300 working moms that reveals what they are—and are not—getting from their work environment. According to the Bureau of Labor Statistics, almost 73% of mothers with children under the age of 18 work. The “Mother of all Titles” study spotlights working mothers’ concerns about workplace issues such as lack of healthcare benefits, minimum maternity leave offerings and fear of repercussions for taking time off. Half of working moms indicated that flexible work-from-home or remote policies are “extremely important,” but only 31% say they are currently offered by their employers. Horizon is also celebrating agency moms and their stories on its LinkedIn page, calling on moms and allies to update their profiles and photo frames with the #TheMotherOfAllTitles ring and manifesto. The initiative will run through May 31. More news: Mother's Day 2023 campaigns Mother knows best? Meanwhile, brand and business consultancy Blackjet is highlighting its own moms—and in a new video tests how much they know about what their children do in advertising. The agency was looking for a way to recognize its moms, according to Blackjet CEO Rob Galletta. “Speaking for myself, I know my mom always supported me and my career, even though I could tell she didn’t really understand what on earth I did all day,” Galletta said. The moms interviewed struggled to recall their kids’ job titles and found it even harder to describe what they actually do. Making reels, managing time, making lots of art and having dinner with clients were their impressions of the ad industry. The video ends by asking the moms how to improve the ad industry. Responses included “do better” and “sometimes less is more.” NVE Experience Agency hires exec creative director from Amazon NVE Experience Agency has hired Francesca Greggs as its executive creative director, a newly created role. She most recently served as a creative director for Amazon focused on marketing its Alexa product. Prior to that, Greggs was a creative director for Meta’s crypto-currency initiative Novi. She previously served as VP of creative strategy at Edelman, where she worked on brands such as Sonos, Taco Bell and Netflix. Greggs will first work with NVE’s Diageo business. In April, NVE launched a brand refresh, including a new logo and website, and shifted from referring to itself as a brand experience agency to a creative marketing agency specializing in brand experience. The agency, which was an Ad Age Small Agency Award winner last year, is eager to take on larger projects. “We believe that the next generation of experiences will be crafted through the lens of culture,” Brett Hyman, president and founder of NVE Experience Agency, said in April. “We’re adding capabilities that deliver our clients a more holistic and integrated brand experience. ‘Experiential,’ as it’s commonly defined, will be just one part of that formula.” Allen & Gerritsen looks to reinvent its office space into ‘third spaces’ Allen & Gerritsen is moving to new “third spaces” in Boston and Philadelphia as part of a restructuring of its real estate as it tries to forgo the term “office.” The “third spaces” concept was inspired by Ray Oldenburg, who first coined the term in his 1989 book “The Great Good Place,” and further elaborated upon in his 2001 book “Celebrating the Third Place.” In his 1989 book, Oldenburg describes the concept as “public places that host the regular, voluntary, informal, and happily anticipated gatherings of individuals beyond the realms of home and work.” The agency is eliminating the concept of a desk. Seats at the new spaces, which opened on May 1, can be booked and changed daily through A&G’s scheduling software, and gathering spots are named after places, such as Barber Shop, Ferry, Hookah Lounge, Bodega, Nook, Boardwalk, Speakeasy and Taqueria. Bustin’ Loose Family-owned retail coffee brand Community Coffee has launched its first brand spot created by its new creative agency of record Baker & Bonner Creative Emporium. The new ad, called “Bustin’ Loose,” opens up with a dark cityscape when suddenly a rooster on a rooftop appears. As the rooster belts out its morning wake-up call, it starts to dance across the city’s rooftops to a cover of Chuck Brown and The Soul Searchers’ 1979 hit song, “Bustin’ Loose.” The campaign will run on TV, online video, social and owned channels. Media planning and buying were handled by T2 Media. Just briefly Uncommon Creative Studio has hired its first head of PR & Editorial. Emma Nabridnyj takes on the role after working with the company on a consulting basis for the past four years. The Badger Agency has promoted Madeline Lefferts to head of account management, a newly created role for the agency. She most recently served as an account executive for the agency.

Agency news you need to know this week

Featured Stories