Forecast: PR industry will grow at a steady pace

A study released this week titled “Communications Industry Forecast” from the private equity firm Veronis Suhler Stevenson, indicates that despite all the bad news swirling about the media industry, it is expected to be the third-fastest-growing economic sector over the next five years, according to The New York Times article by Stephanie Clifford.

“Almost none of that growth is forecast to come from shrinking traditional media, however,” Clifford wrote. “Instead, it will be drawn from areas like word-of-mouth marketing and public relations (with a 9.2 percent compound annual growth rate from 2008 through 2013), branded entertainment (9.3 percent) and the Internet and mobile devices (10.2 percent).”

Comments

  1. I’ve been reading a few posts and really and enjoy your writing. I’m just starting up my own blog and only hope that I can write as well and give the reader so much insight.

Trackbacks

  1. […] Growth: Looks like I’m in the right industry. This week’s NYT said the PR industry will continue to grow at a steady pace. “Little growth is forecast to come from shrinking traditional media, instead, it will be drawn from areas like public relations.” Social media spending is expected to balloon to over $3.1 billion between now and 2014, while the trusted PR industry is predicted to lead all media growth according to this week’s New York Times article. […]