PR Revenue Finally Increasing for Huntsworth
According to a statement from CEO Paul Taaffe, the medical communications company Huntsworth’s Grayling, Citigate Dewe Rogerson and Red divisions are seeing a growth in revenue for “the first time in a number of years”. In the first part of the year, revenue was unimpressive. The company’s Like-For-Like (LFL) revenues increased to $43.5M by 0.9% while operating revenue ballooned by 18.5% to $3.8M. Taffe believes this positive increase was caused by the company intentionally shedding unprofitable clients, effective infrastructure streamlining, and improving staff.
Grayling is the company’s PR flagship and its revenues took a small 3.2% dip caused by diminishing business in the Middle East. In contrast, the company’s consumer and digital content shop Red advanced revenue by 1.5% to $10.2M. Finally, the company’s financial firm Citigate Dewe Rogers boasts an impressive increase of 7.2% in LFL revenue, reaching $12.8M. CEO Taffe predicts that PR revenue will continue to show improvement for the remainder of 2019.
5WPR and Indie Beauty Media Group Partner
5W Public Relations, one of the biggest independent US PR firms, is partnering with the Indie Beauty Expo (IBE) for its upcoming show in New York City and a huge 5-year anniversary show later this summer. The Indie Beauty Media Group (IBMG) produces IBE, BeautyX Summit and publishes Beauty Independent and it helps connect indie brands to relevant consumers, professionals, and media. 5WPR plans to initiate a thorough PR program to help facilitate IBE as wellness, lifestyle, business and beauty trailblazer as well and generate buzz for affiliated brands to help create higher media attendance at the NYC show happening on August 21-22. 5WPR also plans to present Jillian Wright and Nader Naeymi-Rad, the founders of IBMG, as innovative free-thinkers who are able to stay ahead of trends in the beauty industry.
Interpublic Group Sees Growth of 5.4%
A report from Interpublic Group (IPG) announced an increase of 5.4% in Q2 revenue, jumping to $2.5B, as well as a 6.0% hike in operating income, increasing to $264.2M. IPG also saw an increase of 3.0% for organic growth (not including the 2018 acquisition of Acxiom at $2.3B). This growth was caused by IPG’s continuing PR and media efforts as well as global creative networks and digital offerings, particularly in the areas of consumer goods, healthcare, and financial services. CEO Michael Roth said the growth is a “tribute to…the strength of our talent” and expects IPG to meet its organic growth goal for the year.
NEXTFactor Acquired by MMGY Global
NEXTFactor is the latest in a string of aggressive acquisitions by MMGY Global. While the financial details are not known, the Vancouver-based tourism planning agency’s name will be changed to MMGY NextFactor and represents the first of MMGY’s Canadian acquisitions. Earlier this spring, MMGY acquired Digital Spring, a London-based media and content agency.
This set off a flurry of other acquisitions that included Grifco, a London-based high-end travel agency and its sister store Ophir PR; Mclean, a VA-based travel market research firm; another London-based travel agency Hills Balfour. Stateside, MMGY has acquired an LA-based lifestyle firm Myriad Marketing and the NY travel agency NJFPR. The agency has been attempting to double its operations since 2016.
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