Industry Analysis & Industry Trends
Companies use public relations agencies for a variety of reasons, such as improving a company's image or spreading the word about a new product. In the past five years, marketers have dedicated an increasing proportion of their budgets to public relations rather than traditional media advertising. In spite of this, firms are still recovering from significant revenue declines in 2009, when many companies cut back on marketing spending. Luckily for industry operators, revenue for the Global Public Relations Agencies industry is expected to grow 1.6% in 2012 to $28.6 billion. The industry will benefit from growth in corporate profits, which will boost industry revenue as companies increase marketing and public relations (PR) budgets... read more
Industry Analysis
In the five years through 2012, marketers have dedicated an increasing proportion of their budgets to public relations rather than traditional media advertising. This has largely occurred due to media fragmentation, which has made audiences harder to reach en masse and has prompted marketers to pursue more targeted methods of communication. Media fragmentation, combined with strong growth in several developing economies, has driven demand in the Global Public Relations Agencies industry. IBISWorld estimates industry revenue will decrease at an annualized 0.5% over the five years through 2012 to reach $28.6 billion... read more