Public Relations in India is poised to grow at a healthy rate in 2013. As per MSLGroup India’s executive report, titled ‘Public Relations in India: Inside the Industry’s Mind and the 2013 Outlook’, the PR industry in India is expected to grow by over 20 per cent in 2013.
The first industry outlook report, released last year, had estimated the combined revenue for the top 10 agencies in India to be in the region of Rs 400-500 crore (overall industry revenue was at Rs 700-800 crore).
As per Olivier Fleurot, CEO, MSLGroup, “The potential for growth in India and China is more as the industry is still not mature. With better integration of resources, 20 per cent growth is achievable in India. Globally, the growth has been flat at about 2-3 per cent.”
The other highlight of the report is that despite continuing economic uncertainties, 33 per cent of the respondents said that clients had increased their PR budget, while 63 per cent of the respondents said that there was no cutback seen in budgets, which remained intact. About half the respondents identified digital media as the hottest vertical for 2013, followed by lifestyle and technology. MSLGroup India also sees the healthcare sector emerging as a huge opportunity for PR firms.
Talent, however, remains a key concern for the industry as a whole. Though close to 60 per cent of the respondents expect staff numbers to rise over the next one year, stringent selection process, followed by high investment in training, were the respondents’ top suggestions for dealing with the talent crunch. Looking ahead, the report sees knowledge-based PR emerging as a trend, with 41 per cent of the respondents stressing on the need for thought-leadership initiatives. MSLGroup India, on its part, predicts that businesses will move from corporate social responsibility to collaborative social innovation in 2013.
The report also addresses key issues facing the industry such as the relationship between the client and agency and also lists suggestions from media persons to the PR industry.
Commenting on the report, Jaideep Shergill, CEO, MSLGroup India said, “The PR industry in India is witnessing a transformation. The industry is making an extra effort to be viewed as a strategic partner, and clients are acknowledging its value. With this study, we wanted to give the industry a voice. Having spoken to all stakeholders, from PR professionals to media to clients, I can say with certainty that a unified industry approach is the way ahead.”
For the second edition of the report, MSLGroup India commissioned market research and analytics agency Leadcap Ventures to survey PR professionals and define trends for 2013.