REPORT: COMMUNICATIONS TECH IS NOW A $4.1 BILLION INDUSTRY

PR tech remains a robust economy

Spend on communications technology saw a double-digit increase last year to $4.1 billion, according to a report by Burton-Taylor International Consulting.

The social media segment saw the strongest growth, followed by influencer management and media analysis.  Media monitoring and press release distribution also grew, but at lower rates.

Aggressive acquisition allowed Cision to capture more market share and remain the category leader, according to the report.  In 2018, Cision reported it grew overall revenue by 15.6% year-over-year to $730.4 million.  When adjusted for acquisitions and fluctuations in the exchange rate, the company grew revenue by 2% for the full fiscal year, according to the 10-K Cision filed in April.

Read the full story here: https://www.prweek.com/article/1584666/report-communications-tech-41-billion-industry

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