Top 1 of the week: PR agency market recovered somewhat in 2010
Following a 9.2 percent decline in fee income in 2009, the turnover survey and market statistics of the Swiss Association of PR Agencies (BPRA) show signs of recovery.
The PR agencies that are members of the BPRA generated fee income of CHF 67.1 million in the 2010 financial year (previous year: CHF 67.7 million). While turnover fell by 0.9%, the number of employees in the association's member agencies rose by 2% to 309. The industry is cautiously optimistic for the current financial year.
There were revenue winners and losers in all provider categories. Providers that specialize in certain sectors or offerings tended to perform better, according to the BPRA. Smaller agencies are under pressure. The market trends show an increased demand for full service. The project business continues to grow and demand remains volatile. Demand is rising, particularly in the areas of digital communication, traditional reputation management and dealing with public transparency requirements and more active stakeholder groups.
