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Apr. 14, 2008
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Russia's PR Agencies Generated 160m in 2007
Russias PR-agencies yielded past year only to their Turkish and Indian counterparts in terms of the revenues growth (roughly 20 percent), according to the report of ICCO. Aggregate revenues of Russias agencies reached 160 million in 2007; the budgets appropriated by clients ranged from $0.55 billion to $1 billion (401 million to 730 million).
In Russia, the revenues of 20 PR agencies that are members of the International Communications Consultancy Organization (AKOS) surged 20 percent to 80 million in 2007, says the report of ICCO.

Nowadays, AKOS unites such companies as Mikhailov & Partners PR agency, enter for Political Consulting Niccolo M, Tainy Sovetnik, Edelman Imageland, Maslov PR, SPN Ogilvy PR. AKOS has disclosed no financial results of its members, the only thing known is that the 2007 revenues of Imageland reached $6.2 million (25 percent up on year). The figures were provided by U.S. Edelman that bought out 70 percent of Imageland business in Russia and 50 percent of its Ukrainian business.

The association controls roughly 50 percent of the market, said Elena Fadeeva, who chairs AKOS and is the general director at Fleishman-Hillard Vanguard. So, the aggregate revenues of all Russias PR agencies stood at around 160 million past year. People in Sokur & Partners say the size of the whole PR market in Russia was $550 million to $600 million (around 401 million to 438 million).

ICCO attributes the worldwide growth in PR revenues to separation of PR agencies from other marketing businesses, including creative, media-planning and promotion businesses. Another factor is the booming growth in Internet, which enables any person to express his/her views to the public at large and strips management of the unilateral control over the reports that build up the companys image.

The ICCO forecast is that the growth will survive in 2008 and the rates will be from 5 percent to 30 percent depending on the country. The revenues of Russias agencies are estimated to gain another 20 percent this year, AKOS predicts.

All the Article in Russian as of Apr. 14, 2008

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