Industry Analysis & Industry Trends
Mixed economic conditions in the past five years have not affected the Public Relations Services industry in the same way as traditional advertising. While marketing budgets tend to be one of the first items targeted in cost-cutting efforts, public relations (PR) services are often seen as more focused and therefore better value for money than media advertising. As a result, spending on PR tends to be less volatile and holds up slightly better when budgets are cut. Additionally, some aspects of PR, such as communication with stakeholders, can be crucial in a downturn to allay fears and manage crises... purchase to read more
Industry Report - Industry Analysis Chapter
An increasing proportion of marketing budgets is being put towards public relations rather than traditional media advertising. This is a result of the fragmentation of the media that is making audiences harder to reach, prompting marketers to pursue more targeted methods of communication. This, combined with the fact that PR tends to be more resistant than advertising to economic downturns, has helped the Public Relations Services industry to escape the level of volatility felt in the Advertising Services industry, especially during the global financial crisis and its aftermath.
Strong revenue and profit growth
Industry revenue is expected to grow at an annualised 4.7% over the five years through 2013-14, to reach $473.1 million... purchase to read more