Survey: PR Firm Revenues are Up, New Business Prospects are Strong

The Council of Public Relations Firms has released the results of its Q4 member survey with 80 percent of respondents saying that their 2010 revenue exceeded 2009. That result is higher than the anticipated outcome reported in the organization’s Q3 survey. Sixty-seven percent said revenue growth was in the double digits.

More than half of the firms (56.4 percent) also said that new business prospects are stronger than a year ago, with more than three-quarters (76.4 percent) attributing the greatest growth prospect to the social media space.

Finally, the survey says that firms are looking for new hires; 63.6 percent said they anticipated more hiring for Q1 2011 compared with last year. More than two-thirds (67.3 percent) said they’re looking in the account executive and account supervisor range, and 41.8 percent said they were looking in the VP or SVP range.

Fifty-five firms responded to the survey. About 49 percent had revenues between $3 million and $10 million, and about 27 percent had revenues between $10 million and $50 million.