Shane Hegarty has a piece in this weekend’s Irish Times on the (potential) impact of the downturn on the PR business in Ireland.
You wouldn’t have thought it this week, however. The Government’s announcement that widespread cutbacks would include a halving of the PR, consultants and advertising budget was a sign that hard times may indeed be ahead. While details are still vague, the Government plans to save €21 million this year through the measure. It will trickle down to the high-profile firms which have specialised in State and semi-State work. Carr Communications is reported to earn €800,000 a year through such contracts, while they constitute about 10 per cent of Edelman’s business. Other companies which specialise in the area include Murray Consultants and Bracken PR.
This week, however, people within the industry were expressing no great panic either publicly or privately. It is clear that they are either determined to hold steady, or that they are talking themselves up in a way that only PR people can.
They argue that much of Government spending in big campaigns, such as the €12.5 million Change campaign dedicated to raising awareness on climate change, goes on advertising, making the media’s focus on PR alone somewhat skewed. The larger companies have diversified enough not to have to rely solely on the public contracts, while recruitment within the industry remains quite buoyant.
You can read the full story here.