23 May 2019 PR software spend booms in 2018—what’s driving this growth?
To the delight of PR service providers—and indicative of their increasing value to the public relations industry—spend on media intelligence software and information solutions by PR pros surged to over $4.1 billion in 2018, according to a new report from Burton-Taylor International Consulting, part of the TP ICAP group. This figure represents double-digit growth from the prior year.
According to the report, Cision and Meltwater lead a growing list of companies focused on the information needs of PR and corpcomms pros, offering services for media monitoring, media analysis and other related tasks. A series of acquisitions helped both of those companies to grow their market share in 2018, but other independent players are fueling their growth more organically.