We talked to our experts to compile these key PR industry statistics about the public relations industry
Public relations is a crucial component of any successful marketing strategy. With the ever-changing digital marketing landscape, you must be updated on the latest trends and statistics within the PR industry. From understanding the latest media trends to analyzing the impact of social media, there are many factors to consider when developing effective PR strategies.
In this article, we’ll dive into some of the most important statistics in the PR industry. We’ll explore global spending, industry growth, and the most effective PR tactics for businesses. Understanding these key PR statistics will help you stay ahead of the curve and create more effective PR campaigns.
PR statistics on the state of the industry
Here are some statistics that can provide insight into the industry:
- According to a report by Mordor Intelligence, the global public relations industry is expected to grow at a CAGR of 7.9% by 2026.
- In the United States, the PR industry is projected to reach a value of $16.32 billion in 2024, according to Statista.
- The top PR firms in the world include Edelman, Weber Shandwick, BCW, FleishmanHillard, Ogilvy & Mather, and Finn Partners.
- Many firms have shifted their focus to crisis communications and digital strategies.
- Diversity, equity, and inclusion (DEI) are becoming increasingly important issues in the PR industry. A survey by the PR Council found that 83% of firms had taken action to increase DEI within their organizations.
PR statistics on the effectiveness and demand of PR skills and strategies
Here are some PR industry statistics that reflect the effectiveness and demand for PR skills and strategies:
- 88% of executives believe PR is more important than ever in today’s digital age.
- 59% of CMOs believe PR and communications will be the most important marketing skills in the next five years.
- The same survey also found that 79% of CMOs believe that earned media (media coverage obtained through PR efforts) is more effective than paid media (advertising).
- According to a report by Meltwater, companies that engage in regular PR activities see an average increase in revenue of 23%.
- The same report found that companies that invest in PR activities experience an average increase in website traffic of 53%.
- In a survey of PR professionals conducted by PRWeek, the most effective PR strategy was identified as media relations (building relationships with journalists and securing media coverage), followed by content creation and social media management.
- The same survey found that the most in-demand PR skills are artificial intelligence, data analysis, crisis management, and content creation.
Other PR industry statistics you should know
Here are some additional PR industry statistics for your reference:
- The global public relations industry is expected to reach $133.82 billion by 2027.
- In 2024, the United States had the largest public relations market, valued at $8.4 billion. (Source: Statista)
- The average annual salary for a public relations specialist in the United States is $85,000. (Source: Glassdoor)
- The global PR industry is expected to grow at a compound annual growth rate of 6.7%.
- Social media management and influencer marketing were the top two services offered by PR agencies. (Source: PRovoke Media)
- 70% of PR agencies reported an increase in revenue compared to the previous year. (Source: Statista)
- The three challenges PR companies are facing in 2024 are implementing new technologies, retaining and attracting new talent, and building client confidence. (Source: Statista)
- The top three industries that PR agencies served were technology, healthcare, and consumer goods. (Source: PRovoke Media)
- 87% said they believe PR is more important than ever in today’s media landscape. (Source: HubSpot)
Conclusion
The PR industry is a dynamic and ever-evolving sector that has undergone significant changes in recent years. Statistics show the industry is growing, with a projected global market size of $116.4 billion by 2025. The industry is also becoming more diverse, with a growing number of women and people of color entering the field. Social media and digital technologies are increasingly shaping the industry, with companies focusing on data analytics and influencer marketing to drive brand awareness and engagement. However, the industry still faces challenges, such as adapting to changing consumer behaviors and the rise of fake news.
How Pressfarm can help you leverage PR trends
Are you uncertain how to leverage these trends for the continued success of your brands? Or maybe you’ve identified some good PR strategies you can use to leverage these trends but don’t have the time to implement them. If that’s the case for you, then you should consider hiring the services of a company like Pressfarm.
Pressfarm works with startups and companies of various sizes to create newsworthy content that can be distributed to media professionals or published on their channels. By creating email pitches for press releases, press kits, and guest posts, our PR professionals have what it takes to get your brand the attention it deserves.
By submitting your brand to the right startup directories and professional networks, we can boost your online visibility and ensure you feature in relevant search results across search engines. Finally, as a client, you also get access to custom media lists containing the contact information of the best media professionals in your niche. You can partner with journalists, bloggers, and thought leaders in your niche. By partnering with these people, you can share your brand story widely.
