M Booth & Associates - Competitors

M Booth & Associates Competition

Now Viewing M Booth & Associates's competition in: Public Relations (primary)

Recent Developments

PR Spending Expected to Decline - Continuing US economic weakness is likely to result in reduced PR expenditures by many companies in 2009, according to PR Week. Most agencies have been preparing by cutting spending, making selective layoffs, and choosing better business opportunities. While total PR spending is expected to fall, many experts say that the extent of the spending cuts will vary by industry.

Weak Economy Makes Fundraising Difficult - PR firms providing fundraising services may face difficult times as corporations and individuals rethink their charitable giving priorities. Donations are declining due to continuing weakness in the US economy, according to USA Today. Problems in the banking and auto industries, sources of a significant portion of corporate and individual donations, are likely to persist through 2009, likely hurting fundraising activities.

Wages at PR Firms Rising - Employee wages at US PR firms rose 5.7 percent in September 2008 compared to the September 2007, and are near their highest ever. Wages have risen steadily since January 2008 after a year-long decline during 2007 from record levels set in 2006.

Competitive Landscape

Demand is driven primarily by the health of the US economy and corporate profits. The profitability of individual companies depends on the value of the creative services delivered and efficient use of personnel. Large companies have advantages in having multiple subsidiaries that offer different marketing services to large customers and some economies of scale in marketing. Small companies can compete successfully by specializing in a particular industry or geographic market. The PR industry is labor-intensive: average annual revenue per employee is less than $150,000.

Full Industry Overview For Public Relations

Public Relations Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US advertising and related services, including public relations, is forecast to grow at an annual compounded rate of 4.5 percent between 2008 and 2013.

Advertising and Related Services Growth Slow and Even

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.