Over the next five years, the respondents expect to see growth in their work in shared, owned and paid media.
According to the ICCO World PR Report 2020, when PR agency leaders rated their optimism about the PR market on a scale of one to 10, the average response was 7.0, down from 7.7 last year. The average score was 6.7 when asked if they anticipated an increase in agency profitability this year.
The rate of optimism differed from region to region, with North American respondents being the most bullish at 7.7, followed by Latin America at 7.2. UK (6.8) and Western Europe (6.7) showed more caution.
Africa and the Middle East were the most pessimistic about profitability at 5.1. Respondents believe that the next five years could see their work in earned media drop to 35% from the 49% it currently is.
[2 minute read]