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As the global economy continues to waver, things are looking positively rosy for advertising and public relations firms. With Veronis Suhler Stevenson predicting a 55-percent increase in U.S. spending on public relations services by 2013 (up to $8 billion annually), news has been rushing in from all sides of the major ad holding companies of expanding revenues and new digital opportunities.
The uptick in optimism started last week when Publicis reported a 19.8-percent increase in full-year revenue. Omnicom added to the fun after reporting 2010 revenues that were up 6.4 percent, which prompted this headline from the normally stoic Financial Times: “Omnicom heralds advertising acceleration.” Not a bad assessment of happy days to come.