Posted by an Honored Guest
Want a good overview of what’s going on in PR and why the large agency business is so quiet? Got one, and a BIG one, too! Today, I am proud to introduce an Op-Ed by industry sage Jack O'Dwyer, editor-in-chief for O'Dwyer Publications. O'Dwyer's Newsletter has been one of the most authoritative sources for news and opinion in the PR industry for more than 30 years.
The timing couldn't be better. I confess: We've been a little guilty here of generalizing about the state of PR. Here we are dead serious.
This editorial reveals some of the real pressures operating on Agency PR. Apparently, a major by-product of globalization has been the import of behavioral patterns and “standards” that are not up to U.S. standards. We don’t have religious fanaticism in the U.S. (relatively speaking); we don’t have a class system; we don’t sell our children to sex slavery. Most of all, we have far tighter financial reporting standards than exist in the U.K., France, etc.
But the biggest influence on the industry has come indirectly from Uncle Sam. The U.S. balance of payments has put a tidal wave of dollars in foreign hands. Fact is, the U.S is for sale and the Europeans have been buying out entire industries... one namely PR.
According to O'Dwyer, the Council of PR Firms has been a key bellwether for this trend.
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