PR specialist The Holmes Report has calculated that global PR fees in 2010 were at least $8.8bn, up eight per cent on 2010.
This is a marked improvement on 2009 in which fees fell by 7.5 per cent and, according to Holmes, indicates an industry employing nearly 60,000 people earning fees of about $148,000 each.
However it calculates that the big networks (WPP, Omnicom, Publicis Groupe, Interpublic and the UK’s Chime) earned fees of about $3.85bn in 2010 leaving the remainder accounted for by independents and smaller networks. Revenue at the marcoms companies grew more slowly at six per cent than the independent sector.
US-based independent Edelman, headed by Richard Edelman, is the biggest network with global fee income of $531m followed by Interpublic-owned Weber Shandwick on $525m and Omnicom’s Fleishman-Hillard on $505m. The full top ten is here.