Public relations firms are elated following the release of a recent report by the Business Research Company saying that sales from the profession are expected to grow at a compound annual growth rate (CAGR) of nearly 10% until 2022. In its report, the company said the PR market globally was estimated to be valued at $63.8 billion in 2018 and that it was expected to increase to $93.07 billion through 2022 with a CAGR of 9.9%.
The firm also identified North America as being the biggest market and reported that it expected no changes in the next five years. Europe, they stated, followed the U.S.
Edelman Enters Gun Safety Campaign
New York-based Edelman has volunteered to assist the Gun Safety Alliance in its efforts for improved gun safety. Edelman CEO Richard Edelman pointed to the recent mass shootings in Texas and Ohio as well as to results from the Edelman Trust Barometer. The survey discovered that 76% of respondents wanted CEOs to not wait for the government to act, but to take the lead on matters of importance. The study also found that 80% of employees trust their employers and that 66% of customers expect brands to represent their interests.
The Gun Safety Alliance’s goal is to reduce gun deaths by 50% by 2025 by recruiting businesses as allies in promoting the program. Edelman is donating its time and personnel to the effort.
Flat Financial Results Blamed For WPP Decrease
WPP CEO Mark Read said falling revenue in Germany and the UK are the reasons that the financial public relations sector there is down 1.6% to $530 million for the first half of this year. Reed replaced Martin Sorrell last September and launched a three-year plan to address the decline. One of Read’s strategies is to recruit new leaders from the U.S. He had earlier released 3,100 employees and dropped 44 company affiliates.
Electra Meccanica Selects jmpr
Canadian electric vehicle designer and manufacturer, Electra Meccanica Vehicle Corp. announced that it has retained jmpr as its PR firm. The announcement comes at a time when Electra Meccanica is stepping up production of SOLO, its all-electric single-person vehicle. SOLO will be manufactured in China in a plant of one of Electra Meccanica’s strategic partners.
Next up is a stylish electric roadster called Tofino. The high-performance vehicle will seat two and is presently in the design stage.
Chile Ramps Up Tourism PR
Sernatur, Chile’s tourism board, announced that it has hired Turner, a North American PR firm, to help promote tourism to this South American destination. Chile wants Turner to interest more North Americans into taking in the country’s attractions which include stargazing in the desert, lakes, glaciers, and winemaking.
As part of its efforts to appeal to tourists around the world, the board also awarded a contract to Hill’s Balfour earlier this year to manage PR in the UK. And to lure more Australians to Chile, Sernatur appointed GTI, a local travel agency.