Industry Analysis & Industry Trends
Operators in the Public Relations (PR) Firms industry are benefiting from increased demand for outreach efforts aligned with digital and social media trends, which has led to steady revenue growth in recent years. During the past five years, industry operators have experienced rising competition from advertising agencies, management consultants and marketing agencies that have increasingly expanded their selection of services to include PR. In addition, many multinational and highly diversified media companies have acquired smaller operators to expand their service offerings over the past five years. Moving forward, PR agencies will increasingly use social media platforms, blogs and other forms of digital communication to craft client images... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Public Relations industry is in the mature stage of its industry life cycle. Over the 10 years to 2021, industry value added (IVA), a measure of the industry's contribution to the overall economy, is forecast to rise at an average annual rate of 3.6%. Comparatively, over the same 10-year period, Canada's GDP is forecast to rise at an annualized rate of 1.9%. As a result, the Public Relations industry is maintaining its share of the overall economy, a key indicator of its mature life cycle stage.
The industry has stable growth prospects, as public relations agents and other communications specialists are used by a wide variety of downstream clients... purchase to read more