Survey: Revenues at 64% of PR firms declined in 2009

NEW YORK: The majority of PR agencies saw revenue declines in 2009, according to a year-end survey by StevensGouldPincus (SGP). Of the 157 agencies polled, 63.7% reported revenue declines from the prior year. They also reported an average 11.6% profit margin, a drop from last year's figure of 19.2%

“We knew business was down in 2009, and we began seeing a drop in the fourth quarter of 2008, as the recession began to affect the industry,” said Rick Gould, managing partner at SGP. ...