O'Dwyer's Releases Annual PR Firm Rankings

Top PR Firms Ranked by Net Fee Income Annually Since 1970

NEW YORK, NY, Apr. 8, 2024 -- O'Dwyer's has published its annual PR firm rankings based on 2023 net fee income.  Since 1970, the PR news outlet has chronicled the growth of the industry through its rankings which require the submission of financial proofs. Founder Jack O'Dwyer believed the rankings contributed to the "professionalism" of PR, which has helped the business earn the respect that it so richly deserved.

"Nosediving technology spending, tumbling healthcare outlays and recession-jittery consumers jolted PR in 2023 as the independent firms ranked by O'Dwyer's posted a paltry 1.8 percent growth to a combined $4.7B in fee income," O'Dwyer's editor-in-chief Kevin McCauley observed.

This lackluster performance followed a robust 18.2 percent increase in 2022 and a 29.7 percent surge in 2021 as the nation emerged from the COVID-19 pandemic, McCauley reported.

Despite a 3.7 percent dip in revenues to $1.04B, Edelman retained its crown as being PR's only $1B firm. The flagship US region accounted for much of Edelman's revenue slippage as it registered a 9.1 percent drop in fee income to $639M.

The top ten firms collectively registered 1.5 percent growth to $3.1B and a 1 percent dip in workers.  They were boosted by the debut of Avoq at the No. 10 position, formed by the merger of Kivvit and Subject Matter.

#1 Edelman, $1.04B, down 3.9%; #2 Real Chemistry, $595M, up 7.0%; #3 Inizio Evoke, $340.3M, down 7.5%; #4 APCO, $229.3M, up 23.0%; #5 Finn Partners, $195.4M, down 1.0%; #6 Ruder Finn, $175.5M, up 10.0%; #7 ICR, $146.2M, down 9/1%; #8 Zeno Group, $143.9M, up 4.0%; #9 Prosek Partners, $105.1M, up 14.7%; #10 Avoq, $89.3M, up 103.6%.

New to the rankings is the breakout of "public affairs" into its own specialty apart from "environmental / sustainability" PR. 

Only O'Dwyer's ranks firms by 21 specialties, including popular disciplines such as healthcare, financial, food & beverage, professional services, technology, travel and sports.

There are also rankings by key cities & regions such as New York, Chicago, D.C., Los Angeles, Midwest, West and Southeast.

Based in New York City, O'Dwyer's has been covering the public relations industry for 55 years. In addition to a daily website featuring the latest public relations news, people appointments, news of accounts, bylined articles, RFP postings, jobs section and more, the company publishes a magazine seven times a year, offers a weekly e-mailed newsletter, annual printed and online public relations firms directory and a daily e-blast.

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John O'Dwyer

Cell: 571/228-3040

NYC Office: 212/679-2471

john@odwyerpr.com

See on O'dwyer site at:  https://www.odwyerpr.com/pr_firm_rankings/independents.htm