Companies in the advertising, public relations and related services market are using events and occasions to increase consumer reach and brand awareness. This includes events such as presidential elections, festivals, sports events such as Olympics and FIFA, or even releases of high budget movies. Use of advertisements, discounts and sales, in such relevant events is expected to add more than $6 billion to the global advertising market in 2016 adding about 1.1% to the year’s growth rate for global advertising expenditure. For instance, in 2014, Walmart introduced limited edition toys during the holiday season before the release of the year’s most awaited movie “Star Wars: The Force Awakens.” The company also tried to drive sales keeping its stores open 24 hours to host special midnight events.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL ADVERTISING, PUBLIC RELATIONS AND RELATED SERVICES MARKET TO GROW TO $910 BILLION BY 2021
North America was the largest region in the advertising, public relations, and related services market in 2017, accounting for one-third of the market share. This was mainly due to the presence of a large number of private and government establishments seeking advertising services.
The chart below shows the year-on-year growth of the global advertising, public relations, and related services market during 2017 – 2021
According to The Business Research Company’s Consultant, Nitin Gianchandani, the outdoor advertising market is witnessing a shift from traditional billboards to innovative 3D, multi-faceted prismatic billboards. Technological advances in the field of outdoor advertising are replacing static billboards and posters with digital signage, wallscapes, innovative displays and wraps. Oversized digital billboards attract the attention of passerbys. Moreover, billboards are being developed to integrate audio visuals to arouse attention and memory of target audiences. Such innovative billboards are being placed to view live events and sports in airports, roads and other means of transportation. For instance, JCDecaux, a leading outdoor advertising firm in the US recreated a scene from the movie A Good Day To Die Hard through its bill board advertisements.
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WPP Plc was the largest company in the advertising, public relations and related services market, with revenues of $19.6 billion for the financial year 2016. WPP’s growth strategy is to increase the combined geographic share of revenues from developing countries in Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe regions to 40-45% of revenues. Similarly, the company also seeks to invest into its new media division and aims to increase its share of revenues by 40-45%.
The advertising, public relations and related services market comprises establishments offering services for planning, developing, creating and managing advertisement and promotional activities. Services offered by these firms include producing commercials, online advertising, social media marketing, outdoor advertising, mobile marketing and sales promotions. Clients of advertising, PR, and related services firms include businesses, governments, non-profit organizations and other institutions.
Advertising, Public Relations, And Related Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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