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          1. Public Relations Services Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 9/7/2020
            SIC Codes: 8743
            NAICS Codes: 541820
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Public Relations Services Industry Profile

            Companies in this industry design and implement public relations campaigns; some also offer lobbying and political consulting services. The US-based Edelman is the world's largest PR firm. Major global advertising holding companies, collectively known as the "Big Four" (Omnicom, Interpublic, WPP, and Publicis), also own top PR agencies, including Weber Shandwick (Interpublic), Burson Cohn & Wolf (BCW, owned by WPP), and FleishmanHillard (Omnicom), all based in the US. Outside the US, top agencies include BlueFocus (based in China) and Brunswick (the UK), as well as MSL (owned by Publicis, based in France).

            The global public relations industry generates about $16 billion in annual revenue, according to The Holmes Report. Industry revenue increased by 5% from 2017 to 2018. Among the world's top 15 fastest-growing PR firms, four are based in the US, three in the UK, two in Germany, and one each in India, Croatia, Singapore, Russia, Canada, and Sweden.

            The US public relations industry includes about 8,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $13 billion.

            COMPETITIVE LANDSCAPE

            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 ...

             
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