Both ad and PR agencies see social media revenue growing in 2011
Public relations and advertising agencies see increased social media revenues and plan to work together on social media as a growth strategy for 2011.
A joint study from the Transworld Advertising Agency Network and Worldcom Public Relations Group surveyed principals at 25 advertising agencies and 25 PR agencies in January 2011 on how effectively the industry is using social media. The groups found fees from social media made up a greater percentage of overall revenues in 2011 for both types of agencies.
In 2010, 28% of PR agencies reported that 15% to 33% of revenues came from social media, and that number has jumped to 44% in 2011. On the advertising side, 16% of respondents reported that social media revenues were greater than 15% of their total revenues in 2010, and were expected to increase to 20% in 2011.