Spread the word: New York PR firms will continue to benefit from rising marketing budgets

Public relations (PR) firms manage communications between a client and their desired audience to promote favorable images and relationships. Over the past five years, the Public Relations Firms industry in New York has steadily grown. The industry's performance depends on the number of businesses and clients' marketing budgets. Many of the largest global advertising and PR firms are headquartered in New York City (NYC). Consequently, these firms dominate this market. Nevertheless, 66.6% of industry companies employ fewer than five employees, highlighting the contrast of a few dominant players against the majority of small operators...read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
1.5%
Forecast Growth 17-22
Profit
Employment
17,163
Businesses
5,891

Industry Threats & Opportunities

  • Many of the largest global advertising and PR firms are headquartered in New York
  • The rise in the number of operators will increase price-based competition, which cuts into profit margins
  • As the state’s economy strengthens and businesses spend more on promotional activities, the industry is anticipated to grow
  • Industry Report - Industry Locations Chapter

    New York is a national powerhouse for public relations (PR) agencies. Specifically, New York City represents more than half of New York's total Public Relations Firms industry establishments. Furthermore, some of the world's largest PR agencies (including Omnicom and Interpublic Group) are headquartered in New York City.Within the New York City region, New York County holds 65.8% of establishments, Kings County follows with 6.4%, Westchester County holds 5.0% and Nassau and Suffolk counties both hold 4.6%. Companies often prefer to work with a local agency that understands the communities they are trying to reach. Therefore, as New York City holds the largest percentage of the state's population (43.2%),...purchase to read more.

    Additional Insights for the Public Relations Firms in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Public Relations Firms in New York Industry are

  • Degree of globalization in the firm
  • Having a good reputation
  • Ability to quickly adopt new technology
  • IBISWorld analysts also discuss how external factors such as Number of Businesses in New York and Consumer Spending in New York in the Public Relations Firms in New York industry impact industry performance..

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    What's in this report

    What is the Public Relations Firms in New York Industry?

    Public relations (PR) agencies manage the communications between an organization and the public to promote favorable relationships and portray a desired image. This includes communication with the general public, as well as employees, investors, customers, analysts and other stakeholders. In contrast to advertising, PR campaigns aim for exposure through public interest and news coverage, rather than paid advertisements, to give their message third-party legitimacy.

    Industry Products
  • General/full PR services
  • Corporate and lobbying services
  • Media relations
  • Event management
  • Industry Activities
  • Public relations
  • Lobbying
  • Image promotion
  • Political consulting
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of Businesses in New York
  • Consumer Spending in New York
  • Per Capita Disposable Income in New York
  • Population of New York

  • Current Performance
  • Industry structure
  • Social media growth
  • Chart: Revenue Growth

  • Industry Outlook
  • PR landscape
  • Table: Public Relations Firms in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Public Relations Firms in New York Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Mining
  • Manufacturing
  • Advertising Agencies
  • Public Administration

  • Key Selling Industries
  • Computer Stores
  • Furniture Stores
  • Office Supply Stores
  • Real Estate and Rental and Leasing

  • Products & Services
  • General/full PR services
  • Media relations
  • Corporate and lobbying services
  • Event management
  • Other
  • Chart: Public Relations Firms in New York Industry Products and Services Segmentation

  • Major Markets
  • Retail
  • Other
  • Banking and finance
  • Telecommunications and information technology
  • Health and medical services
  • Automotive
  • Chart: Major Market Segmentation for the Public Relations Firms in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Public Relations Firms in New York

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Public Relations Firms in New York Industry

  • Omnicom Group Inc., The Interpublic Group of Companies Inc., WPP PLC, Publicis Groupe SA,
  • Table: Omnicom Group Inc. - financial performance
  • Table: The Interpublic Group of Companies Inc. - financial performance
  • Table: WPP PLC - financial performance
  • Table: Publicis Groupe SA - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Public Relations Firms in New York Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Public Relations Firms in New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Consumer spending in New York (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Below-The-Line
  • Promotional activities that reach consumers more directly, including direct mail, text messages and e-mail.
  • Blog
  • A type of website maintained by an individual with regular entries of commentary, descriptions of events, or other material.
  • Digital Agency
  • An agency that provides creative and technical development of internet (and mobile device) based marketing campaigns.
  • Microblog
  • A very short blog, often 140 characters or less, as is the case with Twitter.
  • New Media
  • Digital media including internet and website advertising, cell phones and iPods.
  • Traditional Media
  • Media formats including TV, radio, newspapers and magazines.
  • Twitter
  • A social network that allows members to microblog and have their updates broadcast to friends or constituents.
  • Viral Marketing
  • Refers to marketing techniques that use social networks and other technologies to increase brand awareness or achieve other objectives.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Public Relations Firms in New York provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Public Relations Firms in New York:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Public Relations Firms in New York market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Public Relations Firms in New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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