CJP Communications: Agency Business Report 2009

"Bring back 2008," says managing partner Jennifer Prosek. She called 2008 a "great" year, despite it being clear by August that "predictions of a market downturn were starting to come to fruition."

Outlook
"Bring back 2008," says managing partner Jennifer Prosek. She called 2008 a "great" year, despite it being clear by August that "predictions of a market downturn were starting to come to fruition."

Even with the dreary economy, the firm has seen bright spots that have helped it during Q1 2009. Since August, Prosek says about 40% of billings have been attributed to issues and crisis management, just about every program the firm works on has a digital component, and the energy and environmental sectors are active, a plus for the new practices. And its work surrounding Troubled Asset Relief Program (TARP) funding has added to the services the firm offers.

"We focus on the opportunities that the recession has brought, as well as keeping in mind the negatives," she notes.

Staff
CJP's current headcount is 43, an increase over the prior year. Staff turnover in 2008 totaled 10%. The firm had no senior staff departures, changes, or restructures.

Practice areas
The firm has 15 total practice areas, two that are new: environmental and energy. The new groups, in total, comprised 7% of accounts, while financial accounted for 42%, IR 11%, digital media and entertainment 7%, and crisis communications 2%. Digital media and entertainment had triple-digit growth for the year.

Accounts
Among CJP's key account wins in 2008 were Concordia Funds, Sterling Bank, and Sybase. Account losses included Russell Reynolds Associates and People's United Bank. Seventy-five percent of the firm's clients are on retainer.

Financial performance
Total global revenue was $8,995,218, up 11% over 2007 with a 28% profit margin.

Key facts
Principal: Jennifer Prosek, managing partner

Ownership: Independent

Offices: Two in the US, New York and Stratford, CT

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in