PR Week reports that:
The average revenue growth of the agencies that submitted figures for PRWeek’s Agency Business Report both this year and in 2013 was up slightly to 11% from 9% the year prior. They also expanded their workforces. Of all reporting agencies, the median staff increase in the US was 8%, while the average of the top 50 firms was 10%.
Odwyer is out with its annual revenue ranking of independent PR firms, and several Denver-area firms disclosed their 2011 numbers:
67. Linhart PR, $4.60 million (+11% from 2010), 29 employees
89. GroundFloor Media, $2.91 million (-3% from 2010), 13 employees
103. Catapult PR-IR, $1.04 million (+24% from 2010), 6 employees
… thinking about making a move to warehousing:
The Denver Post has crunched the (Arizona Republic’s) numbers, and only Austin, Texas, ranks better than Denver among peer cities when it comes to economic indicators. So if you feel like we are in a recession, it must be your imagination.
Social media and technology, combined with a bad economy, caused several prominent “big agencies” in Indianapolis to Schenkein*, according to the Indianapolis Star. That’d be a lesson to Denver’s mega-agencies, if we had any.
(*Schenk•ein – [shangk-en] – verb – To quickly and unexpectedly shut down your business despite outward appearances that you are doing fine.)
The Associated Press reports that “newspapers’ financial woes worsened in the second quarter as advertising sales shrank by 29 percent, leaving publishers with $2.8 billion less revenue than they had at the same time last year.” More troubling, industry analyst Ken Doctor says newspapers will be lucky to recover half of the losses they have sustained because much of the drop has been from a permanent advertising migration to the Internet rather than just recession-based losses.
Courtesy of PRWeek.