October 9, 2013
There has never been a better time to practice public relations in New York than now, The New York Observer reports. Clients are spending again, and digital communications have opened “colossal business opportunities that play to the industry’s strengths,” the Observer reports. As traditional media struggle, PR firms are gaining influence by creating stories rather than just pitching them.
“The pathways to tell a story have grown exponentially,” says Steven Rubenstein, president of Rubenstein Communications. At the same time, “it’s become more complicated to maintain a good reputation,” factors that have “made our industry much stronger,” he says. New York-based Edelman, the world’s largest independent PR agency, reportedly exceeded $700 million in global revenue this year for the first time. Says Mark Hass, the firm’s U.S. CEO, “Social media is an inherently PR-friendly platform, and public relations, digital, social media and stakeholder engagement are growing faster than the rest of the marketing world.”
The PR boom has been sparked by the proliferation of real-time communication through digital technologies and so-called earned media that can include Twitter messages, Instagram posts and agency-produced YouTube videos. Every online hit can be tracked, making PR measureable in a way that PR professionals couldn’t have dreamed of a decade ago. — Greg Beaubien