Public Relations Firms in Canada - Industry Market Research Report

Public Relations Firms in Canada - Industry Market Research Report

Public Relations Firms in Canada

The Public Relations Firms industry in Canada comprises businesses that primarily design and implement public relations campaigns to promote the interests of their clients. Public relations (PR) firms develop promotional strategies, publicize events and maintain media relations for diverse clients in virtually every sector. Ultimately, industry revenue depends on clients' advertising and marketing budgets, which in turn, depend on corporate profit and the general state of the economy. In recent years, increased demand for outreach efforts, along with digital and social media, has led to steady revenue growth. In 2020, COVID-19-related disruption contributed to a decline in industry revenue. However, the ongoing economic rebound has since bolstered industry growth. Industry revenue is expected to rise an annualized 0.7% to $1.1 billion over the five years to 2023 as accelerating dependence on digital media provides demand for PR services. However, revenue is anticipated to fall 0.5% in 2023 alone as corporate profit is estimated to decline.

This industry includes companies that primarily provide communication strategies and organize promotional events. These activities are designed to promote their clients’ interests and image. This includes communication with the general public, investors, analysts and other stakeholders. In contrast to advertising, public relations campaigns aim to increase their clients’ exposure through public interest and news items rather than paid advertisements.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.