Industry Analysis & Industry Trends
Mixed economic conditions in the past five years, such as lower consumer confidence and low growth in business profit, have not affected the Public Relations Services industry to the same degree 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 than media advertising. As a result, spending on PR tends to be less volatile and holds up 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 Locations Chapter
The industry’s geographic spread largely reflects the relative sizes of the states and territories in terms of population and economic activity. Population and business numbers also influence the industry’s geographic distribution. Large PR firms also tend to be located close to major advertising agencies in the cities. This is because many advertising agencies own PR firms, as well as the close association required for integrated marketing and promotional campaigns.
The industry is mainly concentrated in New South Wales, with an estimated 34.2% of establishments and 33.9% of industry revenue in 2015-16, while Victoria accounts for an additional 25.9% of establishments and 26.1% of industry revenue... purchase to read more