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Posts Tagged ‘MDC Partners’

MDC Revenue Increases, But Reports Other Losses

MDC Partners reported Q1 revenue of about $236 million, an increase of 9.7 percent versus 2011. The company also reported organic growth of 5.4 percent. However, the company also reported a number of losses for the quarter.

Operating loss was at about $11.7 million versus a profit of $2.56 million year-over-year. Net loss was about $24.6 million compared with $7 million in 2011.

Adweek also notes the Q1 drop in EBITDA of 51 percent, from $15.4 million last year to $7.5 million this year. The company has purchased or taken a stake in a number of firms over the past couple of years, including Kwittken & Company, Allison+Partners, London’s Epoch PR, and ad agency Anomaly.

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MDC Partners Has Lots of Business News

Three pieces of news today from MDC Partners, parent company to Allison & Partners, Attention, and a number of other PR, advertising, and marketing firms.

First, the company announced that it has increased its revenue guidance for FY 2012 by $50 million. That brings the figure to the $105 billion to $1.075 billion range. EBITDA guidance is also going up by $8 million and free cash flow guidance is going up by $7 million.

“From a balance sheet perspective, we ended the first quarter with approximately $5-10 million of excess cash, zero net borrowings under our $150 million credit facility and total net debt below $340 million,” CFO David Doft said in a statement.

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MDC Partners’ Full-Year Revenue Up 36.9 Percent

Late yesterday, MDC Partners, home to Allison + Partners, Attention, Kwittken + Company, and other advertising, PR, and digital firms, reported a 36.9 percent jump in revenue  in 2011. Revenue for the year totaled $943.3 million versus $689.1 million the previous year. Organic growth was up 17 percent.

“While our business is growing at a healthy pace, we are being diligent in our analysis of investments and are implementing a leaner operating structure across our network, aimed at expanding margins,” said CFO David Doft in a statement.

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MDC Partners Reports 33.4 Percent Revenue Increase, But Makes Adjustments

MDC Partners, home to Kwittken & Company, Allison & Partners, Lime PR, and other firms, reported a 33.4 percent increase in revenue for Q3; from $178.6 million in 2010 to $238.2 million for the same period in 2011.

Organic growth also took a leap, up 17.9 percent for the quarter.

However, in a statement, MDC CEO Miles Nadal said the company’s EBITDA guidance had shifted downward because of a “slowing of existing client work as well as some modest delays in new projects and campaigns.” (Here’s a definition of EBITDA.)

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KCO & MDC Cross Geographies, Marketing Disciplines With Latest Acquisition

Christopher Clarke

This week, kwittken & company announced its first acquisition outside North America, the U.K.’s Epoch PR. While the news is big, what lies ahead is equally huge. The two firms must now merge into one collaborating business.

While Epoch co-founder Christopher Clarke doesn’t see any difficulties moving forward, he does acknowledge that there will be some getting used to.

“Over the next few months, there will have to be an integration and a common language between the two agencies,” he told us during a phone call from England earlier this week. Having some common ground before the deal is made helps.

“When we first started talking to kwittken earlier this year, we felt we’d almost found our doppelganger in New York,” Clarke added. “Very quickly you get to a place where you know it will either work or it won’t work.”

This acquisition brings together two PR firms from across an ocean, and brings them together as part of a company, MDC Partners, that is composed of different marketing disciplines.

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Kwittken Makes First Acquisition Outside North America

As we mentioned in this morning’s Ticker, kwittken & company has made its first acquisition abroad, sealing the deal with London’s Epoch PR, increasing the firm’s U.K. presence from four to 15 people. Here’s a little more detail.

Kwittken opened its European HQ last year. The firm has grown revenues by 45 percent and staff by 75 percent since it became a kbs+p partner company. The financials of this deal weren’t disclosed.

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MDC/Allison & Partners Study Reveals Importance of Creativity to C-Suite

MDC Partners and Allison & Partners have released the findings from their first C-Factors Index survey, which polled C-suite and other senior executives about the impact that creativity is having on business and other aspects of the world around them. According to the results, 98 percent of those polled believe that creativity is “critical to economic success.” Seventy-three percent think we’re in an “imagination” economy.

The study was conducted by Noesis, which received 200 completed surveys from execs falling into categories like principal, partner/owner, president, and CEO.

The findings also show that 80 percent of these execs believe that business leaders must support and encourage creativity for this sort of thinking and activity to continue.

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Allison & Partners CEO, Scott Allison: The Digital Firm Will Be Gone in Two Years

Allison & Partners is celebrating its 10-year anniversary this month (doors opened September 4, 2001), which Scott Allison, president and CEO of Allison & Partners, says is usually a make-or-break time for firms.

“A lot of firms struggle at both the 10 year mark and at a certain revenue level,” he told us this week. “There’s a lot of firms that stall out at about $10 or $11 million a year.” Allison went on to say that his firm is doing very well — business is up 35 percent this year and “we’ll push towards $20 million in revenue” — with lots of prospects for the future.

While making a trip to New York to participate in the Blouin Creative Leadership Summit, Allison dropped by the PRNewser offices to talk about his firm, talent prospects, and how Allison & Partners is approaching the future of the industry.

It is preparing for the future today, he says, by seeking and bringing on new hires. He told us that the firm is bringing in the “next generation of of company leaders,” but the talent pool is shallow.

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MDC Partners Reports Tech, Digital Generated 51 Percent of Q1 Revenue

MDC Partners announced its earnings for the first quarter ending March 31, 2011, reporting revenue totaling $217.5 million, a 60 percent increase from $135.9 million in Q1 2010. The company also saw a 26.5 percent jump in organic revenue.  Net new business amounted to $8.2 million for the quarter. And technology and digital-related revenue totaled 51 percent of revenue for the quarter.

“While it’s still early in the year, with our differentiated model and a smart approach to investment and cost management, we are reiterating our 2011 fiscal year guidance,” said chairman and CEO Miles Nadal in a statement.

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Roll Call: Ogilvy, The Daily Caller, Komen for the Cure, and More

Ogilvy PR has added three to its New York office. Parris Bowe joins as SVP in the consumer marketing practice reporting to Alyssa Garnick, EVP of the practice. Bowe has previously worked for Lippe Taylor and Edelman. David Hanon joins as VP of that consumer marketing practice as well. He was most recently at Waggener Edstrom for more than a decade where he worked with tech consumer clients including Microsoft. And Ryan Aynes has joined the 360⁰ Digital Influence Group as a VP. He was previously director of social media at the JAR Group.

Rep. Darrell Issa‘s (R-CA) former spokesperson Kurt Bardella has landed at Tucker Carlson‘s The Daily Caller. He was fired by the Congressman after an investigation was launched into whether he shared emails with reporters. Bardella starts his new job today as director of communications, The Huffington Post writes.

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