With over 300 firms, the PRWeek Agency Rankings supplement (enclosed in this issue) is the largest, most definitive survey of its kind ever conducted - 50% larger than last year’s survey. That means we have found, tracked and gained insight from more than 100 PR firms that are new to the rankings.
With over 300 firms, the PRWeek Agency Rankings supplement
(enclosed in this issue) is the largest, most definitive survey of its
kind ever conducted - 50% larger than last year’s survey. That means we
have found, tracked and gained insight from more than 100 PR firms that
are new to the rankings.
In the supplement you will find an industry overview, a report on global
strategies among the top firms and an analysis of the mergers and
acquisitions that made 1999 an unprecedented year of consolidation.
There are also reports on the top 20 agencies, and a selection of
reports on 40 others.
We hope that whether you’re an agency, an employee or a client looking
for a new agency (or comparing notes on rival agencies), the information
will prove valuable. And it’s not restricted to this special supplement,
either. Throughout the year, PRWeek will provide breakout information,
reports and rankings on regional and specialist markets so you can get
the full picture. And coming soon, there will be further data and
analysis available on the new PRWeek Web site.
Does size matter?
Some argue that outside of the top 10, top 20 or top 50 (depending on
various opinions), results from smaller, regional and specialist
agencies are of no real value. Although nearly two-thirds of the
industry’s dollars 2.7 billion in fee income comes from the top 20
agencies, PRWeek does not agree with this big-agency focus - for three
reasons.
First, small, entrepreneurial businesses continue to play an important
role in the US economy. In a business where there is still no
replacement for individual creativity and great contacts, small- and
medium-size firms can challenge and compete very effectively against the
giants in the right circumstances and on the right accounts.
Our second reason is with an eye to the future. The roots of today’s big
firms are in small, cottage industry-based businesses. But the future is
not just about their development into multi-office practices with
complex matrix structures and elaborate multiple service offerings.
While entry into the big league has unquestionably become more
difficult, it is by no means impossible that the next big agency will
come from similarly humble roots. Indeed, the PRWeek Agency Rankings
supplement is full of examples of little businesses that have enjoyed
spectacular growth in recent years, and which may yet challenge the
current world order.
And finally, we think it’s important, as the leading PR trade
publication, that we track, monitor, measure and analyze the full gamut
of public relations firms. A small agency’s clients and staff are just
as important to each other as they are to a large, sprawling
multinational. And their story might be just as compelling - or, often,
more so.
Besides, all firms - big or small - contribute to the state of the PR
economy. All should be included. PRWeek has identified a further 5,000
agencies that have not submitted figures. Our next job is to persuade
more of them to join in order to create a truly definitive list.
