Industry Analysis & Industry Trends
Clients hire public relations (PR) firms to manage a company's image, publicize a product or service and communicate with stakeholders. The industry's performance depends largely on clients' marketing budgets, which is largely determined by corporate profit. As economic conditions have improved, industry revenue has increased due to client businesses increasing their marketing expenditure. In the coming years, the expansion of niche and social networking services and the continued development of mobile media are expected to contribute to relatively strong industry growth... purchase to read more
Industry Report - Industry Locations Chapter
The industry is concentrated in the Mid-Atlantic and, to a lesser extent, the West. The former has a high concentration of PR firms due to its close proximity to the large number of major clients that are headquartered in New York City, particularly those in the banking and financial services sectors. Additionally, many PR agencies are now owned by large advertising agencies located in New York and Los Angeles. IBISWorld does not expect this level of geographic concentration to change in the near future.
The Mid-Atlantic is by far the most prominent region in the Public Relations Firms industry. Its share of industry revenue and employment is greater than the region's share of establishments, indicating a high concentration of large firms, compared with other regions... purchase to read more