To our shareholders
As we reflect on 2024, I want to express my gratitude for your continued support and confidence in Quad. I am pleased by all that we achieved during the year as we continued to gain momentum and distinction as a marketing experience, or MX, company. Quad remains steadfast in our strategic vision, leveraging our integrated marketing platform to drive diversified growth; optimize marketing efficiencies; and create value for our clients, employees, and you, our shareholders.
We are a company that helps brands connect directly with consumers at home, in-store and online. As we explained during our 2024 Investor Day, our solutions simplify the complexities of marketing and drive better business outcomes for our clients, such as realizing cost efficiencies, improving speed-to-market, strengthening marketing effectiveness and delivering value on investments.
Our MX Solutions Suite seamlessly integrates Creative, Production and Media solutions across physical and digital channels and is supported by data-driven Intelligence and state-of-the-art Technology.
MX: Intelligence
Our Intelligence offering, which is centered on our proprietary, household-based data stack, provides strategic insights for smarter marketing decisions. Built on transparency, trust and respect for privacy, our data stack is used to generate enhanced audience intelligence, activation and integration across all media channels.
MX: Creative
Our Creative offering, led by our Betty creative agency, addresses every step of the creative process, from ideation to execution. Backed by our own global production team, we provide quick-turn design and production support around the clock.
MX: Production
Our Production capabilities deploy content to physical and digital channels — a major point of differentiation among our competitive set. Our print operations feature the latest in automation and technology to produce both large-scale and targeted print products. Our Managed Services leverage these capabilities and trusted vendors to simplify client workflows, decrease costs and reduce the number of partners needed to execute work.
MX: Media
Our Media offering, provided by our Rise media agency, supports all traditional and digital touchpoints with full-funnel brand and performance marketing solutions. Our data-backed solutions help clients identify the best channels for reaching consumers with targeted messages at the moments they are most likely to engage across paid, owned and earned touchpoints.
MX: Tech
Our client-facing Technology solutions connect marketing strategy, global content creation, analytics and optimized media performance across all channels. We analyze a client’s current-state workflow and performance, and then create tailored solutions to centralize assets, optimize processes and accelerate market entry.
In 2024, we continued to enhance our solutions through the power of our proprietary, household-based data stack. Audience data is core to doing business, and we have built a data stack that includes demographic, transactional, attitudinal and behavioral characteristics, as well as proprietary identifiers, or “passions,” related to consumer interests. These passions are unique to Quad and are linked to our mailstream data, so we know exactly what is being requested in-home and, therefore, of interest and value to the recipient.
We continue to invest in our data stack to ensure it is future-focused and AI ready. In 2024, we entered into a partnership with Google Cloud to leverage its AI optimization capabilities and large language models. We intend to create new AI-driven solutions that efficiently leverage our data stack and seamlessly connect it with clients’ creative and media assets to further enable personalization at scale.
Our data stack, innovative technology and integrated solutions enable our clients to connect the right message with the right audience at the right time and place. We recently launched At-Home Connect, which modernizes the direct mail channel with an intelligent, automated platform that connects online engagement and offline impact. Using highly personalized trigger-based direct mail, marketers can drive consumers further along their purchasing journeys — converting abandoned online shopping carts into completed sales, winning back lapsed customers, encouraging the purchase of additional or upgraded items, and more. Similarly, our in-store retail media network, In-Store Connect, drives consumer engagement in brick-and-mortar stores through digital screens and kiosks that deliver engaging messages and promotions across the shopper journey.
Our differentiated offering improves outcomes for our clients as they move seamlessly across all our services. We continue to see growth from our integrated strategy, with approximately 85% of our U.S. clients purchasing more than one of our products or services during 2024.
Our integrated MX Solutions Suite is also leading to higher value, higher margin work from leading brands across multiple verticals. For instance, in January 2025, our brand design work for Titleist’s flagship Pro V1 and Pro V1x golf balls debuted in market. This work leveraged the power of our Betty creative agency and its brand design arm, Favorite Child, and used Quad’s proprietary Accelerated Marketing Insights platform to pre-market test creative, messaging and packaging. Also in early 2025, we won integrated work with Spirit of Gallo — the fourth largest spirits supplier by volume in the United States. We are applying our data stack to conduct audience intelligence services and manage media spend in out-of-home, social and connected TV channels.
Entering 2025, I remain confident in our team, our strategy and our future as a marketing experience company as we set new standards for the industry. We will continue to advance our marketing solutions by driving innovation and product development, which will enhance our new and existing client partnerships. Not only are we able to remove friction from wherever it occurs in the marketing journey, but we also optimize media and marketing performance through integration. On behalf of the entire Quad team, thank you for your trust and investment in our company. We appreciate your support and look forward to continuing this journey with you.
J. Joel Quadracci
Chairman, President &
Chief Executive Officer
Forward-looking statements
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These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company’s expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results to materially differ are listed in our most recent Annual Report on Form 10-K, which may be amended or supplemented by subsequent Quarter Reports on Form 10-Q or other reports filed with the Securities and Exchange Commission. Except to the extent required by the federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.