Companies in this industry design and implement public relations campaigns on behalf of clients, which may include lobbying and political consulting services. Major US companies include Edelman and divisions of Interpublic, Omnicom, and WPP; major companies based outside the US include Blue Focus (China) and Newgate Communications (UK).
The global public relations industry grew 11 percent in 2013 over 2012, the first double digit growth since the global recession in 2008, according to the 2014 World PR Report. Independent public relations firms globally posted strong growth of 12.5 percent in 2013 over 2012.
The US public relations industry includes more than 7,000 companies with combined annual revenue of about $10 billion.
Demand is driven primarily by the health of the US economy and corporate profits. The profitability of individual companies depends on the value of the creative services delivered and efficient use of personnel. Large companies have advantages in having multiple subsidiaries that offer different marketing services to large customers and some economies of scale in marketing. Small companies can compete successfully by specializing in a particular industry or geographic market. The US industry is fragmented: the top 50 companies account for about 40 percent of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
About 70 percent of PR agencies provide a full range of services including media relations, crisis management services, lobbying services, event management, and fundraising services. The remaining agencies specialize in one or more of these services.