Business Insider has been tracking all these trends at some of the largest PR firms including Edelman, Weber Shandwick, and Sard Verbinnen, and rounded up our coverage, including the hot practice areas that are boosting firms’ revenue, how to get hired, and compensation.
Below are resources to guide people looking to learn about the industry, grow their existing PR businesses, or break into the field.
Firms are gearing up to take share from other industries
Some firms are also gearing up to take market share from advertising and management consulting companies, arguing that they can help clients deal with crises and promote brands while people may not be receptive to traditional advertising.
Among the most aggressive in this area is Edelman, which has built a 600-person staff of creatives including adland vets like Leo Burnett’s Judy John and McCann’s Lee Maicon to expand into advertising services.
News that Amazon’s incoming CEO is Andy Jassy is raising advertisers’ hopes that he’ll help solve some of their longstanding gripes about the company, Lauren Johnson reported.
Advertisers have long wanted more data to see if their ads grow awareness and lead to sales, and they’re speculating that he’ll bring together disparate parts of the company and bring more measurement to ads.
They point to his leadership of another growth business, AWS, and its cloud products that could help improve the accuracy of ads.
People are changing viewing habits while avoiding ads more than ever. Advertisers are seeking fewer big, multi-year contracts, while getting their message out is becoming more complicated than ever. Many are abandoning agencies altogether, figuring they can do the work better internally.
Main seems like he has as good a shot as anyone at turning around an agency, having built Deloitte Digital into a big business. But with big contracts being a thing of the past, its comeback could be more a plodding one than a roaring one.
As one exec put it: “I fully think Andy has the will and ambition. The main thing we’re struggling with right now is the work; it’s project by project.”
The coronavirus pandemic has not only accelerated legacy media’s push into streaming but influenced the kind of entertainment Disney, WarnerMedia, Netflix, and others are leaning into, namely, big franchises, Travis Clark reports.
The most notable example is Disney Plus’ “Star Wars” series, “The Mandalorian.”
Netflix and Amazon are building up their franchise content, too. Netflix has new teams dedicated to event/spectacle and franchise TV shows and also has its sights on video-game IP.
Disney has plans for 10 “Star Wars” and 10 Marvel TV shows exclusive to Disney Plus, and WarnerMedia is planning DC movie spinoffs.
That’s good news for franchise fans, but those craving the next feature film may have to be patient.
For today’s newsletter, the last of the year, we’re recapping the year’s biggest stories. The pandemic and financial crisis shook up the advertising and media industries, which is reflected in our top stories that span ad agencies, brands, media companies, and the influencer industry.