A. Guttmann
Research Lead covering media
Public relations worldwide – statistics & facts
The global public relations industry could use a stronger PR strategy. The estimated size of the PR market worldwide slightly decreased in 2023 after peaking at 20 billion U.S. dollars the year prior. The decline – the first since the pandemic – entails many factors. The sector relied a bit more on mergers and acquisitions, some business decision-makers expected rougher times for the economy and reduced marketing budgets or faced part of the consumers' resistance to diversity, equity, and inclusion (DEI) and environmental, social, and governance (ESG) agendas. A 2024 survey showed that nearly seven out of 10 global CEOs saw ESG values fully embedded into their business, while a similar share deemed their ESG efforts not ready for further scrutiny. Despite the challenging times, the world's two leading PR firms remained the same: Edelman, still the only agency with a fee income of around one billion dollars, and Weber Shandwick, which belongs to the Interpublic Group of Companies, Inc. (IPG).
