Public relations companies are instrumental in creating a positive and appealing image of a brand. The top-rated PR firms are immensely influential and the right PR strategy combined with one of the best PR firms can skyrocket your brand to heights less imagines and horizons never explored.
The corporate communications and Public Relations Firms industry is returning to growth after the pandemic. As the economy recovers from a recession caused by the COVID-19 (coronavirus) pandemic, downstream demand will likely increase and benefit the industry. As growth resumes, increased corporate profit is expected to enable marketing budgets to expand, which will likely increase demand for public relations (PR) services. Corporate profit is forecast to rise over the next five years, and the number of businesses in the United States is expected to increase during the same period. As businesses recover from the recession, advertising spending is likely to increase as well.
This year’s five-fastest movers in the US are a healthy mix of new entries to the list (and industry) to a player that’s been around long enough to have the 20th-anniversary insight. Tech-focused SourceCode Communications, the top-ranked agency, registered a growth of $528.8% to nearly $1.7m in fee income during its second year in business. The second-ranking agency, Firehouse Strategies, however, shows the technology isn’t the only industry driving business; Firehouse, primarily a public affairs firm, grew 109.5% to $3.2m in 2018 — its second full year since its 2016 inception.
Praytell and The Bulleit Group, founded in 2013 and 2012 respectively, are making their second consecutive appearance on the list, after ranking second and third in 2017. Meanwhile, Walker Sands’ 54.3% growth shows expansion isn’t just for the new kids. The Chicago firm, launched in 2001, grew by 54.3%, thanks to bigger clients and expanded capabilities.
Tech-focused Clarity PR grew 47.1% last year, closing in on the $5m mark, boosted by offices in London and Munich. San Francisco’s Singer Associates, meantime, grew 47.9% to nearly $7.7m, building on its reputation for handling clients involved in high-stakes public battles. ARPR, the Atlanta independent, grew an impressive 43.5% to nearly $2.3m, adding big-name clients including Delta Air Lines. Two well-established firms — GCI Health and SKD Knickerbocker — round out the top 10, growing an estimated 39.6% to $67m and 39.5% to $60m respectively. The growth propelled both those agencies up the list of the world’s biggest agencies. GCI jumped 10 steps to No. 34; SKDK rose 12 points to No. 38.
As the giants in the industry continue to grow and expand, new entrants constantly keep the PR services within the reach of small to mid-scale businesses by offering more or less the same features at a much lower cost. Evertise Digital is a similar new entrant in the PR industry. From a humble start in August 2020, the company has rapidly grown and expanded, now featuring over 300 distribution endpoints. A flawless and customer-centric user interface at a fraction of cost compared to its competitors.