MIG Prisma grew by 41% year-on-year in 2020, despite the recession

In an extremely complex exercise for citizens and businesses due to the severe impact of Covid-19 on a health, social, and economic level, the omnichannel marketing agency MIG Prisma managed increase its organic growth by 4% compared with 2019, up to 3,600,000 euros, in contrast to the sector’s average decline of 20%.

a growth that occurred in a year of severe economic recession in which, moreover, for To support and stand by our clients during these uncertain times, we increased our workforce by 6% to strengthen our account teams and be more agile in reviewing strategies, an increase in the cost structure which had a negative impact on EBITDA, which fell slightly compared with 2019 (-4%).

These figures are at the sales level the fourth best year in the agency's historical series. The revenue structure remained stable; of the total, 70% came from fee-based services and the remainder from specific projects.

For David Galán, Director General of MIG, the company that owns MIG Prisma, “the agency model, deep digital positioning, and very rapid adaptation to the situation caused by the pandemic have been decisive in maintaining the trust of our clients and our business share. It has been a year where the professional and personal have blended more than ever, and being close, if not inside, our clients' most intimate concerns to give them Agile and flexible responses, rectifying strategies very quickly and concentrating on what is truly essential for them, these have been the determining factors in the agency performing better than the market. However, our priority this year was not turnover; it was ensuring the maximum number of jobs and helping and supporting our clients to overcome the situation. Both objectives have been met.”.

However, the agency's contribution to the group was reduced by €200,000 compared to the budget forecast, due to an extremely complex market context, which, while recovering after the lockdown and appearing to pick up strongly after the summer, stagnated again in the final part of 2020.  

Organisational transformation

By 2021, the omni-channel creative and marketing agency's objectives are to consolidate the deep technological transformation process that began in 2017 and to support specialised agencies and companies in processes of MIG organisational transformation.

MIG Prisma, which is celebrating its 20th anniversary in the Spanish market this year, aims to consolidate its position in the rankings. of the 25 independent creative agencies largest in Spain, positions it already holds according to the ranking of agencies IPMark of 2019.

It is essential to remember that MIG participates in its clients' organisational transformation process and in the development of new business models from four perspectives: technology, digital innovation and Development of new business models (MIG Embryonic), talent management (MIG Wellhuman), audiovisual cross-media productionMIG Welding), and creativity, marketing, advertising, and experiences (MIG Prisma).