Industry Analysis & Industry Trends
Public relations agencies manage the communications between an organization and the public to promote favorable relationships and portray a desired image. These firms are taking advantage of social networking websites and other technology-focused trends in order to gain footing in the new economic climate. As the general economy moves into a recovery, corporate spending will increase, fueling industry revenue. However, midsize firms will be threatened by the increasing specialization of small firms and global network of large firms, resulting in further consolidation... purchase to read more
Industry Report - Starting a New Business Chapter
Public relations firms in the US generally face low and steady barriers to entry. In 2014, the industry's largest player, Omnicom, is expected to claim 5.9% of industry revenue. This indicates that the industry has a low level of concentration (see Market Share Concentration section for further details) and does not have significant barriers to entry. Some of the largest global PR companies, however, have been acquired by and integrated into large advertising agencies. It is unlikely that a new operator in this industry would be able to effectively compete against these global integrated agencies, due to the substantial resources that global firms possess.
This industry requires very little capital investment to establish a new firm... purchase to read more