subject: Pr New York: Optimism Abounds [print this page] While Wall Street seems to be on the road to recovery, the PR New York scene appears to be ready to join the party. Having come through one of the worst recessions in modern history which witnessed the shutdown of many media outlets (quite a few favored by the PR New York crowd, it is safe to say), this might be wishful thinkingMaybe not
Certainly the economic climate has had an impact. Budgets have declined and, as a result, a number of PR New York firms shut their doors, merged out or scaled back their operations. However, with problems come opportunities companies and marketers still have customers to reach, products and services still get launched, people still run for elected office You get the idea, life goes on perhaps a bit smarter if not cheaper
Another factor is trust Does anybody trust anything or anybody these days? Witness the financial marketplace and the current events unfolding in Washington, DC. Heartening to the PR New York world is the fact that public relations understands how to build and sustain beneficial and trustful relationships.
There are a number of recent studies that seem to bear out the cause for optimism that seems to be gripping the PR New York community (and probably a lot of other places as well) These studies reveal that PR tops other communication disciplines, such as advertising and journalism. The annual Veronis Suhler Stevenson study predicts a consolidated aggregated growth rate for public relations of nearly 10 percent for the years 2008-2012. Even in a downturned economy, spending on PR in the U.S. grew by more than 4 percent in 2008 and nearly 3 percent in 2009 to $3.7 billion. And, finally, the rise of the Internet and social media has given PR a big boost.
Other reasons why the PR New York scene is in an upbeat mood include: advances in technology, the decline of traditional media, reduced trust in business, the advent of the 60-second news cycle, the list is endless.
