Public Relations Firms in the US
The Public Relations Firms industry experienced strong growth over the five years to 2018. The industry's performance depends on the number of businesses and the size of company marketing budgets, which are largely determined by the level of corporate profit. As economic conditions have improved, industry revenue has increased due to rising corporate profit and therefore spending on advertising and PR services. Digital media has become a prominent force within the industry during the five-year period. With the rising power of social media, PR agencies are providing clients with targeted campaigns to reach an increasingly fragmented consumer market. Over the five years to 2023, PR firms will continue to benefit from rising marketing budgets. Consequently, over the next five years, revenue is expected to increase. The expansion of digital and social media services is expected to contribute to relatively strong 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, 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.
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