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    Public Relations Services Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 4/5/2021
    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 $95 billion in annual revenue in 2020, and expected to reach $117 billion by 2023. 1 Industry revenue will increase yearly by 7% from 2021 to 2023, according to The Business Research Company. 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 $12.5 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 ...

     
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