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Public Relations Firms in New York - Industry Market Research Report

Public Relations Firms in New York - Industry Market Research Report

  • November 2017
  • 30 pages
  • ID: 5470207
  • Format: PDF
  • By Ibisworld

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Spread the word: New York PR firms will continue to benefit from rising marketing budgets

Abstract

Public Relations Firms in New York
Public relations (PR) firms manage communications between a client and their desired audience to promote favorable images and relationships. Over the past five years, the Public Relations Firms industry in New York has steadily grown. The industry’s performance depends on the number of businesses and clients’ marketing budgets. Many of the largest global advertising and PR firms are headquartered in New York City (NYC). Consequently, these firms dominate this market. Nevertheless, 66.6% of industry companies employ fewer than five employees, highlighting the contrast of a few dominant players against the majority of small operators. Since many multinational companies have a presence in NYC, it is important for large PR firms to have a degree of globalization to handle the accounts of major global operators. Over the next five years, the Public Relations Firms in New York industry is expected to grow at a steady and healthy pace. Continued growth in the number of businesses and consumer spending will boost industry revenue.

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, as well as 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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