NEW YORK: For the second year in a row, more than four out of five PR firms produced significant growth, a year-end survey of 62 Council of PR Firms (Council) members showed.
Fourth quarter results reveal that 87% of the participating firms generated revenue growth of roughly 14% for the year ending 2006.
Smaller agencies (less than $4 million revenue) demonstrated the greatest growth, with an average increase of 19.3%. This year, 95% of firms are projected to deliver more than 12% of revenue increase.
Employee growth also continued, with 61% of firms adding staff in 2006 and 90% of firms currently hiring, according to the Council's survey.
Client growth was largest in the technology, consumer products, and healthcare sectors. Professional services also showed growth for the second year in a row.
"These results reflect a healthy industry," said Kathy Cripps, president of the Council, in a statement. "Clients are increasingly using PR firms for more for their strategic communications, particularly in the marketing arena."