- Stagwell has acquired creative marketing agency Movers+Shakers, in keeping with a press release. The deal, Stagwell’s fourth this 12 months, sees Movers+Shakers join the Constellation network of agencies.
- Movers+Shakers is best known for its social media chops, having produced campaigns which have racked up 250 billion views so far. The agency has also added 21 recent clients to its roster this 12 months and was named Tinder’s social media and culture agency of record.
- Stagwell’s revenue totaled $618 million in Q3 and $1,872 million for the primary nine months of 2023, in keeping with its recent earnings. Q3’s revenue represented a 7% decline from the identical period last 12 months, while the year-to-date revenue is down 5% in comparison with 2022.
Creative agency Movers+Shakers has gained a repute within the industry because the so-called “TikTok whisperers,” per release details, nevertheless, like many, the shop’s growth has been limited by its size. By joining Stagwell’s Constellation network of agencies, Movers+Shakers, which has worked with clients including Netflix, E.l.f. Cosmetics and Neutrogena, may have access to networks across the globe. Terms of the deal weren’t disclosed.
“Joining Stagwell allows us to drive brand transformation on a fair larger scale,” said Evan Horowitz, CEO and co-founder of Movers+Shakers, in a release. “Clients are inviting us to assist them in a world capability, in addition to with connected capabilities like media, experiential, data, and commerce. We selected Stagwell because we’re excited to partner with its like-minded, disruptive agencies.”
Meanwhile, Stagwell gets so as to add one other notable agency to its growing roster, which also includes 72andSunny, Gale, Colle McVoy and The Harris Polls. The Movers+Shakers acquisition is Stagwell’s fourth this 12 months, following In the Company of Huskies in April, Tinsel in July, and Left Field Labs in October. Movers+Shakers, founded in 2016, has driven client success across industries including CPG, beauty, retail, entertainment, fashion, toys and technology.
The Movers+Shakers acquisition comes just as Stagwell released its third quarter earnings statement. During the period, Stagwell claimed greater than $81 million in net recent business from clients including Estee Lauder, Vera Bradley, Liquid I.V. and E-Trade. Still, this 12 months has include its challenges as sector-wide headwinds persist. In the earnings statement, Mark Penn, chairman and CEO of Stagwell, noted that the corporate is predicted to return to growth over the subsequent two quarters as recent business is signed and challenges within the tech and auto sectors begin to recede.
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