Profitability

VIDEO: Millennial PR Firm Owners Carve New Niche

By Matthew Schwartz

We were chatting with a top PR executive recently when we mentioned the proliferating number of PR firms owned by millennials, or people born between the early 1980s and 2000. The executive—a real pro—expressed skepticism. That’s fine, we said. But we also stressed to this executive to keep a close eye on the space. While …read more


Canadian PR Firms Best U.S. Firms on Revenue, Profitability     

By Matthew Schwartz

Canada is celebrated for many things. Maple Syrup, Niagara Falls, and Wayne Gretzky quickly come to mind. Now you can add profitable PR agencies to the list, particularly when stacked up against their U.S counterparts. Net revenue for Canadian-based firms grew a total of 21.8 percent in 2016, according to Gould+Partners 2017 PR Firm Net …read more


Webinar: Millennials Eager to Lead, Willing to Learn

By Matthew Schwartz

Millennials and older PR executives have a great deal to learn from one another. By collaborating more effectively they can bolster the value of their firm, break into emerging markets and land new clients. They just need to put their suspicions of one another aside and not let stereotypical thinking get the better of them. …read more


VIDEO: Transparency Key to Integration, Post-Sale

By Matthew Schwartz

The celebratory dinner was a blast. The tapas were a joy to behold and the Merlot was ever so zesty. But now that the party is over, the real work of creative services transactions begins. The new teams have to commit to working together for what can often be a six-month transition process. It’s probably …read more


Millennial PR Firm Owners Destined to Shake Up Industry

By Rick Gould CPA, J.D.

(This article originally ran on odwyerpr.com.) Millennial communicators can’t catch a break. As they occupy a growing part of the PR field, this demographic bears the brunt of withering criticism from some of their elders regarding their work ethic and general attitude. We frequently hear from older PR firm owners about the challenges of both …read more


VIDEO: The ‘Build to Sell’ Mindset

By Matthew Schwartz

Clients are satisfied with your firm’s work. You’re on the short list to land a new (and prestigious) account. The staff is growing nicely. They’re all positive indices for creative services firm owners. But, in order to maximize the profitability and overall value of their firm, owners need to adopt a ‘Build to Sell‘ mentality. …read more


The PR Trifecta: Growth, Profitability and Billing Rates Stalling 

By Matthew Schwartz

In light of this solar eclipse this week, the constellations have started to align for the PR industry. But it’s not a pretty picture, with all the major financial indices down and little sign that the industry has started to make headways in order to reverse the declines. Just check out the tale of the …read more


Gould+Partners Billing Rates/Utilization Report Cause for Concern

By Matthew Schwartz

NEW YORK, NY, July 6, 2017—North American PR agencies and firms did not increase their hourly rates in 2016, according to a new report released by Gould+Partners, the management consulting firm specializing in PR and PR M&A. The outlook for hourly rates should be cause for concern among PR firm owners grappling with boosting profitability and increasing valuation, …read more


G+P Benchmarking Survey: PR Agency Profitability Flat in 2016

By Rick Gould CPA, J.D.

U.S. PR agency profitability was 15.2 percent of net revenues, according to PR professionals responding to the annual Benchmarking survey conducted by Gould+Partners. A total of 101 prominent agencies—based throughout the United States and Canada—reported an average profit of 15.2 percent in 2016. That’s compared to 15.3 percent in 2015, 16.2 percent in 2014 and …read more


How Should PR Firms Plan for the End Game?

By Rick Gould CPA, J.D.

(This article originally appeared in the June issue of  O’Dwyer’s) The PR M&A process is seldom easy. But as the public relations industry has evolved and become more complex, so too has the PR M&A process. When sellers sit down with buyers these days there are sharper and more difficult questions coming from both sides of …read more