1. Business & Finance

Media May Be in Flux - But PR Business is Booming Again

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Newspapers, the internet, radio and TV are all in flux, with everybody trying to figure out their place in the new order of things.

Old mass-media powerhouses are being bought up by Silicon Valley wonders that didn't exist two years ago.

Despite all the change, public relations firms are rebounding quickly, according to a new report by the International Communications Consultancy Organization.

You can find the full report here.

The PR group surveyed firms in 24 major countries. Most reported strong growth in 2011 and expected the same -- or stronger -- growth in 2011.

Out of the 24 nations surveyed, 20 predicted growth of up to 20 percent, with four countries predicting 20 percent or better growth in fee revenues.

 

The two countries reporting a decline in revenues were Ireland (-15 percent), Croatia (-14 percent) and Switzerland (-1 percent).

Country     2010 / 2011 Revenue Prediction

Australia    +10% / Up

Austria      +3.5% / Up 3‐4%

Belgium      +10% / Up 10%

Brazil         +23% / Up 20%

Croatia      ‐14% / Up 10%

Czech Rep  +10% / Up 5‐10%

Denmark     +5% / Up 10‐15%

Finland       +2% / Up 8%

France       +3% / Up

Germany     +1% / Up

India          (N/A) / Up 20%

Ireland       ‐15% / Up 5%

Italy          +3% / Up 2%

Norway      +10% / Up 10%

Poland       Stable / Up 10%

Portugal     0.4% / Stable

Russia        +17% / Up 20%

Slovakia     +9% / Stable or Up

Slovenia     +12% / Stable

Sweden      +7% / Up 5‐10%

Switzerland ‐1% / Up

Turkey       +7% / Up 8‐10%

UK             +13% / Up 10%

US             +11% / Stable / Up

If you want to get a job in PR -- or expand your business -- this report shows some of the trends.

Part of the strength in revenues, the report says, comes from greater demand for certain types of PR work, including social media, digital media work, crisis management and international PR.

The one area of PR that was reported down around the world was event management.

While social media and the internet are getting a lot of hype, actual increases in fees for this type of work are more moderate than you would expect from the headlines, with the survey showing 5 to 20 percent growth in this type of work. However, this sector appears to be growing fast in country after country.

With budget cuts, the public sector is less of a factor in four countries (the United Kingdom, Ireland, Italy and Austria) while PR firms in eight countries say the public sector looks promising.

Energy industries are a high source of growth in 17 of the countries surveyed while 11 natiuons reported growth from health care work.

Real estate, cars and retail were rated as the worst sectors for growth.

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