20+ PR Industry Statistics You Should Know in 2023

by | Aug 10, 2023

20+ PR Industry Statistics You Should Know in 2023

We talked to our experts to compile these key statistics about the public relations industry

Public relations is a crucial component of any successful marketing strategy. With the ever-changing landscape of digital marketing, it’s essential to stay up-to-date with 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. Whether you’re a marketing professional or a business owner, 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:

  • The global public relations industry is expected to grow at a CAGR of 7.9% from 2021 to 2026, according to a report by Mordor Intelligence.
  • In the United States, the PR industry is projected to reach a value of $15.7 billion in 2022, up from $14.2 billion in 2020, according to IBISWorld.
  • The top PR firms in the world, including Edelman, Weber Shandwick, and FleishmanHillard, collectively generated over $4.4 billion in revenue in 2020, according to PRWeek’s Agency Business Report.
  • The COVID-19 pandemic has had a significant impact on the PR industry, with many firms shifting their focus to crisis communications and digital strategies. A survey by the Public Relations Society of America found that 62% of PR professionals had changed their approach to communications due to the pandemic.
  • 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:

  1. According to a survey by the Public Relations Society of America (PRSA), 85% of executives believe that PR is more important than ever in today’s digital age.
  2. Another survey by the Holmes Report found that 59% of CMOs believe that PR and communications will be the most important marketing skill in the next five years.
  3. 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).
  4. According to a report by Meltwater, companies that engage in regular PR activities see an average increase in revenue of 23%.
  5. The same report found that companies that invest in PR activities experience an average increase in website traffic of 53%.
  6. 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.
  7. The same survey found that the most in-demand PR skills were media relations, crisis management, and content creation.

Other PR industry statistics you should know

Here are some additional PR industry statistics for your reference:

  1. The global public relations industry is expected to reach $20 billion by 2023. (Source: IBISWorld)
  2. In 2020, the United States had the largest public relations market, valued at $8.4 billion. (Source: Statista)
  3. The average annual salary for a public relations specialist in the United States is $63,000. (Source: Glassdoor)
  4. The global PR industry is expected to grow at a compound annual growth rate of 7.7% from 2021 to 2028. (Source: Grand View Research)
  5. In 2021, social media management and influencer marketing were the top two services offered by PR agencies. (Source: PRovoke Media)
  6. The COVID-19 pandemic has led to an increase in demand for crisis management services from PR agencies. (Source: PRovoke Media)
  7. In 2021, 65% of PR agencies reported an increase in revenue compared to the previous year. (Source: PRovoke Media)
  8. The top three challenges facing the PR industry in 2021 were identified as managing the impact of misinformation, managing reputational risk, and navigating the changing media landscape. (Source: PRovoke Media)
  9. In 2021, the top three industries that PR agencies served were technology, healthcare, and consumer goods. (Source: PRovoke Media)
  10. In a survey of marketing and PR professionals, 87% said that 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 that 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 the need to adapt to changing consumer behaviors and the rise of fake news.

How Pressfarm can help you leverage PR trends

Are you uncertain about how to leverage these trends for the continued success of your brands? Or maybe you’ve identified some good PR strategies that you can use to leverage these trends but you 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 own channels. By creating email pitches and 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. With these contact details, you can partner with the best journalists, bloggers, and thought leaders in your niche. By partnering with these people, you can share your brand story widely.