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.
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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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