The advertising, public relations, and related services market comprise establishments offering services for planning, developing, creating and managing advertisement and promotional activities.
The USA was the largest market in the advertising, public relations and related services industry in 2016, accounting for about $90 billion or 20% of the market in 2016. Japan was the second largest market, accounting for around $60 billion or 10% of the market. China was the third largest market, accounting for around $40 billion or 10% of the market. Australia was the lowest of the featured countries in the advertising, public relations and related services market accounting for about 2%. Other countries together represented 25% of the global market.
Advertisement and PR agencies are rapidly shifting towards digital campaigns to move with the increasing digitalization and advances in social media, search engine marketing, content marketing and e-commerce technology. As a result of increasing internet penetration and smartphone users, online content marketing campaigns are expected to be three times more effective than traditional ones and comparatively cost 62% less. Such digital campaigns are targeted towards growing user base of social media websites, such as Facebook, Twitter, Instagram and Pintrest, and other internet portals like Google and Netflix. Moreover, they allow businesses to track the performance and effectiveness through real-time information. This helps companies to plan their future PR campaigns and marketing strategies. According to a report by Altimeter Group, 78% of global companies plan to establish independent social media marketing teams in 2016, from 71% in 2015 and 67% in 2012.