This week, The Holmes Report published its 2011 Global Rankings, with Edelman moving into the top spot, based on 2010 fee income. It was number three last year. Edelman’s numbers were up nearly 20 percent to about $531.5 million.
Edelman overtakes last year’s number one, Weber Shandwick, which is up nine percent to about $525 million according to the ranking. Many of the firms on the top ten list are part of larger holding companies, which, Holmes writes, don’t break down exact numbers for PR earnings. However, they were able to make estimations based on financial details that are made public.
Last year’s number two, Fleishman-Hillard, is now number three on this list at $505 million in fee income, up six percent from the previous year.
As a whole, the magazine reports that the PR industry is up eight percent for 2010 with fee income of about $8.8 billion and 60,000 employees. This is a turnaround from 2009, which reported a decline. The Holmes Report has a complete list of 250, again, based on information that it was able to gather, but with certain omissions such as Sard Verbinnen and Glover Park Group.