The public relations industry experienced another year of strong revenue growth, according to an end-of-year survey conducted by the Council of Public Relations Firms (Council) www.prfirms.org.

This is the fourth consecutive year we’ve seen double-digit revenue growth from our members,” said Kathy Cripps, president of the Council of Public Relations Firms. “It demonstrates that public relations as a discipline is no longer a ‘nice-to-have’ but rather a ‘must-have’ for clients of all kinds. According to all of our surveys, including this one, this is particularly evident in consumer products/services, healthcare and technology.”

Approximately three-quarters of public relations firms in the survey reported that year-end revenue was ahead of 2006’s final numbers; the average growth among firms participating in the survey was 12.3%. On the 2006 Q4 Survey, firms reported revenue growth of 13.9% over the previous year.

Looking ahead to 2008, 84% of firms are projecting top line growth, at an average overall rate of 10%. Similarly, on the new business front, more than 85% of firms expect the new business and RFP (request for proposal) pipeline to be equal to, or stronger, than it was in 2007.

Other findings from the survey included:
80% of firms are hiring
57% of firms added staff in ‘07
30% expect to see the biggest gains this year in consumer marketing; online media was second with 12%
When asked about industry’s economic outlook for 2008, based on discussions with clients and considering ‘environmental factors,’ 23 percent viewed it as ‘strong,’ and 58% were ‘neutral.’

The Council’s 2007 numbers track closely with those found in the “Communications Industry Forecast,” published last fall by financial investment company, Veronis Suhler Stephenson (VSS). VSS projected the public relations industry to grow 11.8% in 2007, 9.9 % in 2008, with a compound growth of 10.3% through 2011.

Sixty-two firms participated in the Council’s 4Q 2007 survey, which was fielded January 8-18. The respondents were primarily public relations firm principals, all belonging to the Council of Public Relations Firms.

The Council of Public Relations Firms is comprised of America’s leading public relations firms. Its membership represents the premier global, mid-size, regional and specialty agencies across every discipline and practice area. The Council’s mission is to advance the business of public relations firms by building the market and firms’ value as strategic business partners. For more information about the Council, visit www.prfirms.org