Signs of green shoots in the PR industry?

According to PR Week, the PR industry has bounced back from recession. Its Top 150 league table shows that the average growth figure for a PR agency’s fee income was 9.24 per in 2010 – putting the market back in line with 2008 figures.

A whopping £838million was the figure PR Week put on the total fee income of the top 150 public relations agencies. Number one was Bell Poittinger Group with £67,818,000 and number 150, Eskenzi PR with £812,000 in fee income for 2010.

Overall the future looks rosy for us PR types then. However, I counted 30 out of the 150 which had actually posted a drop in income. That’s still 20 per cent of agencies that haven’t grown, but have in fact shrunk.

Both I and all of my freelance friends are very busy at the moment, which is great news for us and I guess great news for our clients. They get a senior, experienced PR person doing all of the work on their account, at the fraction of the cost for a larger agency. There are of course trade-offs working with one person – holiday and sickness for a start (we aren’t robots, although touch wood I haven’t been sick in two-and-half years!). But, the fact that they don’t get the junior staff on their account most of the time and it costs them less, seems to appeal to many. I have been referred to as a ‘bargain’ before!

Anyway, it’s horses for courses and great news that the overall trend is for the PR industry to be on the up.

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