Global Power Book: Cautious optimism for PR businesses in 2016

More than three-quarters of PRWeek's Global Power Book nominees expect this year to be better than the last for their businesses.

Glass half full: PR chiefs are generally optimistic
Glass half full: PR chiefs are generally optimistic

For all the talk of the PR industry going through a paradigm shift, the rise of digital disruption and tough economic conditions meaning tighter budgets, 80 per cent of Global Power Book members feel their business will be better off in 2016.

Just 18 of 326 respondents said their businesses were expecting a worse year than 2015, both agency side and in-house.

While many took note of the potential for trouble ahead, primarily in the form of global economic uncertainty, most remained very optimistic about their performance this year; bullishness that may be somewhat unsurprising when asking people about their own employers.

That said, when examining the PR industry as a whole, just under a third were more cautious, expecting things to be satisfactory compared with 2015. Just eight per cent said they were pessimistic about 2016 for PR, while almost two-thirds believed 2016 would be a better year for the industry.

Aptly summing up the overall mood of the market, Barri Rafferty, senior partner and North America CEO at Ketchum, said: "I believe that the opportunities for PR agencies to play a significant role at the integrated marketing table will continue to manifest over the next year. It’s all about being nimble, creative, and collaborative.

"However, I’m not sure the economic headwinds are shifting, and that will continue to be a drag on global industry performance."

Click here to access PRWeek’s Global Power Book 2016.

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