Clients hire public relations (PR) firms to manage a company's image, publicize a product or service and communicate with stakeholders. The industry's performance depends largely on clients' marketing budgets, which is largely determined by corporate profit. As economic conditions have improved, industry revenue has increased due to client businesses increasing their marketing expenditure. In the coming years, the expansion of niche and social networking services and the continued development of mobile media are expected to contribute to relatively strong industry growth.
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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.