The Wall Street Journal and BusinessWeek are the latest to think so.
Category: Fees
Dubai Has a Way of Offsetting Those Pesky U.S. Budget Cuts
PR/Marketing behemoth WPP posted a 10 percent increase in global PR revenues. Our advice for Denver agencies: hire 2,000 employees and locate them in key cities around the world to better diversify. Or not.
GroundFloor Media Client Vicorp Declares Bankruptcy
Vicorp Restaurants, parent company of Village Inn and Baker’s Square, has filed for bankruptcy protection. The company lists $37.7 million in outstanding loans and $15 million in unpaid debts to suppliers and other vendors. Let’s hope GroundFloor Media, which won the Vicorp business a few months ago, demanded payment upfront.
Denver Agencies Show Growth in Annual O’Dwyer Rankings
If you see Gwin Johnston around town, make sure she buys you the drink. O’Dwyer released its annual rankings of PR agencies, and the Denver-area agencies disclosing their 2007 numbers were:
102. JohnstonWells — $3.04 M in 2007 revenue (+36%); 24 employees
106. Linhart PR — $2.85 M in 2007 revenue (+35%); 18 employees
118. GroundFloor Media — $2.30 M in 2007 revenue (+37%); 11 employees
137. Turner PR — $1.80 M in 2007 revenue (+20%); 12 employees
164. Catapult — $0.95 M in 2007 revenue (+3%); 6 employees
We’ll have to wait for the next Denver Business Journal list of PR firms to see where the holdouts (we mean you, Schenkein, GBSM, VisiTech, MGA, Metzger, et al.) are. Overall, the O’Dwyer list is encouraging. Most agencies are showing good growth, and JohnstonWells topping $3 million in revenue locally is a milestone.
Who will be the King of Denver PR?
We are a little more than three weeks away from the release of the Denver Business Journal’s 2007-2008 Book of Lists. As we get ready to see which agencies grew and which contracted, here’s a recap of 2006-2007 DBJ Book of Lists rankings:
- GBSM, $2.62 million (2005 gross income)
- Schenkein, $2.61 million
- JohnstonWells, $2.40 million
- Linhart, $2.18 million
- Pure Brand, $2.14 million
- GroundFloor , $2.10 million
- LeGrand Hart, $2.09 million
- PRACO, $2.07 million
- MGA, $2.06 million
- CTA, $1.50 million
- Peter Webb, $1.33 million
- Wall+Aiello, $1.14 million
- Alyn-Weiss, $1.10 million
- Turner, $1.10 million
- CLS, $1.08 million
- Metzger, $1.05 million
- VisiTech, $1.05 million
- InterMountain, $1.01 million
- Corporate Advocates, $0.88 million
- Catapult, $0.80 million
Note: While these figures appeared in the 2006-2007 DBJ Book of Lists, the data used was from a year earlier.
Wall Street Journal: ‘Paying for PR – But Only When it Works’
The Wall Street Journal profiled Cynthia McKay of Castle Rock-based Le Gourmet Gift Basket in an article examining alternative pay structures and pay-for-performance pricing in the public relations industry. McKay turned to an independent PR practitioner who bills based on results after feeling “nickled and dimed” by a traditional agency.
Denver Public Relations Blog 