NEW YORK: The US PR agency business grew by a record 33% last year
to dollars 3.4 billion - and it was smaller agencies that led the way, a
study by the Council of PR Firms reveals.
Global billings were up 34% to dollars 4.6 billion. But the surprise
story of this year's rankings is the performance of boutiques, which
posted 36% revenue growth, outperforming even the extraordinary 28%
gains of the top 10. Twenty-four boutique firms grew by over 100%.
The number of staff joining the industry increased by 25% to 23,288 in
the US, and 35,113 worldwide. Revenue per employee increased 7%.
The tech sector accounted for two-fifths of all PR revenues and was up
46%. The fastest-growing cities were Austin, TX with 132% growth and
Sacramento, CA, up 68%.
The Council's Agency Rankings were based on information supplied by 316
firms, 29 of which provided revenues confidentially.
See the Agency Rankings 2001 insert in this issue and Editorial, p. 6.