Chief Executive Officer at Interpublic Group of Companies
Thanks, Ellen. As you can see from our results, our strategy, talent and culture continue to drive innovation, creativity and collaboration that fuel our clients' success in an increasingly digital economy. Over the past three years, we've organically added $1.2 billion of revenue to our business as well as increased adjusted EBITDA by over $360 million since the start of 2020. Credit to our teams for those very strong results. Throughout this period, what we're seeing play out are the accelerated technology-driven shifts in media and consumer behavior that our company had anticipated and against which we've made significant investments. Our expertise in first-party data management, performance media and accountable marketing solutions are all areas relevant to marketers looking to build their brands while also delivering business outcomes. Vital to our strong performance are our media, data and health care offerings. These specialized assets have evolved their offerings to combine marketing services with emerging communication channels and technology is to help clients find new ways to identify and interact with individual consumers.
As you saw in October, we continue to look for strategic areas of investment. With our RafterOne acquisition, we brought a talented and specialized team into the IPG network, to architect and implement scaled sales force solutions that connect brands with customers through end-to-end commerce experiences in both B2B and B2C settings. The RafterOne team will help us deliver creative campaign that work smarter for our clients by building meaningful relationships in digital marketing platforms. Enterprise marketing suites like Salesforce and Adobe formed the foundation of so many brands marketing technology stacks, and our company can serve as a bridge between those brands, their consumers and these platforms, strengthening every touch point in the customer journey. We continue to invest in this important growth area and recently announced that we brought on board our first Chief Commerce Strategy Officer. He joins us from Accenture where he oversaw their omnichannel commerce practice. At IPG, he'll connect our existing channel and platform expertise, including strong and scaled teams at MRM, RafterOne, reprise media and IPG platform services as well as others across our entire portfolio. And he'll orchestrate how our company supports clients as they build out commerce solutions and integrate them with a full breadth of their marketing programs.
Turning now to the highlights of agency level performance in Q4. As we've mentioned, results were once again led by our media, data and technology offerings. Media performed very strongly to close out a successful year. And during the quarter, we saw a series of notable wins, including Celebrity Cruises at Mediahub, Energy Australia, the REIT tension of major client Merck and the addition of assignments on AWS at initiative and the onboarding of Moneysupermarket Group at UM where earlier this week, we also announced that we welcomed the new Global CEO to the agency. As we speak, IPG Mediabrands is also hosting their third annual equity upfront which provides opportunities for clients and our agencies to engage directly with diverse owned media partners, including black, API, Hispanic and LGBTQIA owned media which is vital to establishing the kinds of partnerships that can change buying patterns in the industry. Acxiom continues to be a strong contributor to the performance of our media agencies as well as others in the group who've incorporated audience-led methodologies into how they develop strategic insights and creative work. During the quarter, Acxiom brought in new logo wins and contract renewals in the automotive, CPG, financial services, insurance, retail and travel and entertainment sectors. They were recognized as a leader in the Snowflake Modern Marketing stack report and also launched a new integration with a customer data platform, Telium to enhance deterministic modeling capabilities.
Turning to IPG Health. That network continued to deliver strong results for us in the quarter, compounding very strong -- excuse me, again, trailing growth since we created the group approximately 15 months ago. While growing with nearly every existing client, IPG Health also focused on expanding its presence globally through some strategic alliances, notably in Europe. And the caliber of their creative work was honored at the 2022 M&M awards, where the network was named large Healthcare Network of the Year. At our global advertising networks, we continue to see the benefit of our investment in strong differentiated agency cultures which are driving distinctive ideation and creativity, and we're seeing that recognized again and again in the industry. FCB won significant accolades during its first full year under its new leadership team, who was named as 1 of the 10 most innovative advertising agencies of 2022 by Fast Company. It was honored as the #2 network overall in Cannes and was once again named Festival's top rank North America network, thanks to powerhouse offices in New York, Chicago and Toronto, which it bears noting are all leaders in leveraging data to power audience insights and creativity.
With a new CEO in place at the beginning of the fourth quarter, McCann saw new business wins with Smirnoff which make it part of the Diageo roster and post-consumer brands. McCann also launched work for recently won clients Converse and Prudential. Additionally, the agency was named Network of the Year to 2022 EpicaAwards for the fifth time at 6 years and McCann New York won Epica innovation Grand Prix for Mastercard's Touch Card, the accessible card standard for blind and partially cited people. More recently, McCann also announced a series of senior organizational changes, elevating key internal leaders and adding new executives to the agency.
MullenLowe Group continued to secure new business as it had throughout the year. With the addition of Ferro International, [Indecipherable], National Highways in England, Lifestyle Fashion in India and the Barcelona football club in Spain. We also announced the new global CEO for MullenLowe promoting the key female leader from within our organization, who's known across the industry as a champion of creativity, a strong growth driver and someone fully committed to diversity and inclusion. Among our domestic independent agencies as part of the agency's goal to help reshape our industry, the Martin Agency announced their commitment to hire a minimum of 50% directorial and editorial talent from underrepresented groups for all their video content production.
At our earn and experiential agencies, performance was led by Octagon, Jack Morton and Momentum, all of which posted strong growth in the quarter. With more than 3 decades of World Cup experience, Octagon was very active with a range of clients at this year's tournament. For example, with a long-time client Budweiser, the agency ran a range of on-site activations in Doha, managed complex global influencer campaigns and hosted nearly 0.5 million consumers who are fans and viewing events around the world. Jack Morton continued to deliver outstanding performance and launched a sponsorship consulting practice, which has dubbed Jack39 and continue to build out JackX, which is their global experience innovation practice which creates events of the combined content with Web 3.0 times.
Among our public relations firms during the quarter, Golin had several wins, including a product launch for new alcohol brands, corporate communications work for food products and services brand and then being named the influencer AOR for household appliances manufacturer globally. Weber Shandwick announced new client wins with HP in North America and IKEA and the UK. And the network also launched what it's calling the business Society and Society Futures, which is a C-suite offering that combines public affairs, corporate affairs as well as organizational design and consultancy. During the quarter, DXTRA Health posted strong gains, winning a large global oncology assignment for a major pharma clients. And in addition, its leader was named to PR Week Health Influencer 30, which is the annual list of most influential individuals in health care communications. At the holding company level, as you know, we have a long-standing commitment to ESG and DE&I as key strategic priorities. And as you may have seen last week, we announced that IPG has been included on the Bloomberg Gender Equality Index for the fourth consecutive year and was recognized for the first time as a top-rated ESG performer by Sustainalytics. We were also once again included in the FTSE for good Index, and Newsweek's America most Responsible Companies 2023 and Forbes featured us on both its America's Best Large Employers list as well as the world's top female-friendly company for 2022. As a business in which human capital is so vital to our success, our culture, including an intentional approach to ESG has long been an important part of our strategy for attracting and retaining top talent, whether in strategic, creative, data analytics or engineering roles, or across a range of other skill sets that have become key to our evolving offerings.
Looking ahead, we believe IPG remains well positioned for the future. Much of our growth in recent years as well as in 2022 was fueled by disciplines that most actively tap into our data and precision marketing capabilities as well as our exceptional health care marketing offerings. These are growing parts of our portfolio that continue to develop into more structural and secular revenue streams. We know the world in which we live is increasingly digital and that more than ever, clients need help from us in using audience-led thinking to solve for a widening set of business problems and opportunities. We've been leaders in this space and 2023 will be a year in which we consolidate those gains and prepare to further evolve the way in which we deliver this expertise to marketers is to elevate the value of the services and solutions we provide. In addition, we're confident that our commerce and experiential disciplines, which not today figuring as large in our revenue mix will continue to grow going forward. As stated earlier, despite the broader uncertainty that we're seeing at a macroeconomic level, we expect to deliver growth in 2023 of 2% to 4% on top of a very strong record that has compounded for a number of years. And consistent with that level of growth, we foresee adjusted EBITDA margin expansion to 16.7%.
Of course, another key area of value creation remains a strong balance sheet and liquidity. And our ongoing commitment to capital returns is clear in the actions that were announced by our Board today, which also speaks to the confidence in our strategic position and future prospects. Part of our balanced approach to capital allocation, we'll continue to further invest behind the growth of our businesses by developing our people and continuing to differentiate our offerings. This includes a disciplined approach to M&A focusing on opportunities that are consistent with strategic growth areas, primarily commerce and Performance Media, business transformation and consultancy. We thank our clients our people and those of you on this call for your continued support. And with that, let's open the floor for questions.