PR firms sort through wreckage of dot-coms

Article Abstract:

High-technology and financial ppublic relations professionals are not discouraged by the shakeout in the Internet industry which has caused the loss of billions in paper profits from inflated stock. Instead, they are optimistic that dot-com business will increase for public relations firms due to the continuing gorwth and momentum of the Internet as a medium. Experts believe that interest is focused on a higher quality of new prospects who are subjected to a more careful, healthy screening.

Market information - general

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Top 50 PR firms billed $2.8B in '99 fee income

Article Abstract:

A study of PR firms revealed that the 50 largest businesses billed $2.8 billion in 1999 in comparison to $2.26 billion they generated in 1998. The No 1 PR firm was still Burson-Marsteller which billed $274 million in fees. However, Fleishman-Hillard was ranked as the biggest PR firm in terms of US-only fees, posting a growth of 33% to $181 million. The biggest owner of PR firms was Omnicom, with its PR fees amounting to around $700 million.

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Magazine blasts some high-tech PR firms

Article Abstract:

Magazines and newspapers are lambasting high-technology PR firms by publishing a series of negative articles about them. Red Herring magazine will publish a six-page article in its May issue citing the way PR firms are charging high-technology companies with huge fees. The report follows a series of negative articles published by Soft-letter, Harper's, The New York Times and a book by FrontPage inventor Charles Ferguson.

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