The latest stats from Gould+Partners show top-line net revenue increasing for most of the PR agencies responding to the survey, as "projects" start to perform better than monthly retainers.
▶ Changes in PR Billings: Top-line revenue grew for 84% of PR agencies for the first nine months of the year, according to an exclusive survey conducted by Gould+Partners. The growth in net revenue can be attributed, in part, to a surge in PR projects, as opposed to fixed retainers and hourly billing. However, communication professionals shouldn’t get too comfortable with generating the bulk of their revenue from PR projects, particularly against the backdrop of growing labor costs. “PR agencies cannot rely on projects where they can get a higher retainer and/or value bill,” said Rick Gould, managing partner.
This article originally appeared in the December 8, 2014 issue of PR News. Read more subscriber-only content by becoming a PR News subscriber today.