Public Relations Services in Australia - Industry Market Research Report

Influential: Favourable demand and social media uptake have given the industry a platform to grow

Public relations (PR) services firms have performed moderately well over the past few years. While the industry benefited from stronger demand from key downstream markets in most years, a challenging economic environment in 2022-23 due to rising inflation pushed revenue lower. While marketing budgets are commonly targeted in cost-cutting measures, PR services are often considered more focused and therefore better value than media advertising. Consequently, spending on PR tends to be less volatile and is often retained when budgets are cut. Falling business travel budgets bolstered PR spending during the pandemic. Additionally, some aspects of PR, like stakeholder communication, can be crucial during a downturn to allay fears and manage crises. As a result of relatively stable demand, industry revenue is expected to increase at an annualised 1.2% over the five years through 2023-24, to total $664.8 million.

Public relations agencies manage communication between an organisation and its public and stakeholders to promote favourable relationships and portray a desired image. This includes communication with the general public, employees, investors, customers, analysts, governments and other related parties. In contrast to advertising, PR campaigns aim for exposure through public interest and news items rather than paid advertisements to give their message third-party legitimacy.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.