PR Firms Post 1.5% Dip in '24 Income

Public relations firms recorded a 1.5 percent drop in combined 2024 fee income to $4.7B as clients adopted a cautious approach toward spending due to economic uncertainty, according to the 133 independent firms ranked by O’Dwyer’s.

Total employment fell 2.2 percent to 22,300.

JPA Health enjoyed the biggest gain among PR firms in the Top 25 group. It was up 26.6 percent to $30.8M. Hunter (+17 percent to $67.4M) and Highwire PR (+14 percent to $41.3M) followed.

Three Top 25 firms dropped out of the rankings.

They are Avoq, which ranked No. 10 on last year’s list with $89.3M in fees; 5W Public Relations (#12 at $61.6M), and Citizen Relations (#20 at $37.4M).

TEAM LEWIS joined the PR firm rankings, placing at #11 with $70.4M in fees. Supreme Group debuted at #16 with $46.5M.

Edelman Slips Below $1B Mark

Edelman dropped below the $1B annual fee income mark following a 4.9 percent drop in 2024 revenues to $986M. It became the first billion-dollar PR firm in 2022.

Richard Edelman

Lackluster performances in the US (-7.9 percent) and APAC (-11.5 percent) sectors hurt Edelman’s performance.

Richard Edelman’s firm also posted declines in technology (-6.2 percent), food & beverage (4.4 percent), and healthcare (-3.7 percent).

He expects a rebound this year based on a robust new business momentum.

Edelman’s biggest 100 clients combined for a 6.7 percent spending hike during the year, while global clients increased their outlays by 2.8 percent.

On the new business front: it added Reynolds Consumer Products, America250, and COP30 in the US; GSK in Canada; Netflix and Spotify in Latin America; King Salman Park and Signify (UK) in the EMEA; and International Solar Alliance and Mongolia in the APAC.

The firm welcomed Aaron Guiterman back to the firm after he spent nearly a year at Burson as EVP & Washington lead. He is US head of public & government affairs.

Emma Peacock, a 14-year veteran at Pfizer, took on the head of health policy post in the PA & government unit; Google/Microsoft alum Luis Montero signed on as head of technology policy; and former South Carolina governor and UN ambassador Nikki Haley assumed the vice chair position.

Ruder Finn Continues Growth Streak

Ruder Finn chalked up an 8 percent hike in fee income to $189.5M, a performance that keeps its five-year revenue growth streak intact.

CEO Kathy Bloomgarden said 2024 growth came largely through new business efforts across both existing and new clients.

Kathy Bloomgarden

“We live at a moment of unprecedented human potential as AI, breakthrough science, and a new global digital consumer are transforming the way we work, live and create,” she noted. “At Ruder Finn, we are working with industry leaders and emerging startups to navigate this shift across key regions.”

Ruder Finn is working with game-changing clients across the globe to accelerate the power of this technology. “We continue to work with leading healthcare companies to launch first-generation treatments globally while helping shape health policy at critical moments in the US,” said Bloomgarden

The firm’s new digital and micro-influencer offerings have fueled its brand experience practices across the US, Asia and the Middle East.

Ruder Finn in 2024 made AI a reality for clients and its people by establishing an AI Advisory Council led by Zack Kass, former head of go-to-market at OpenAI; launching rf.aio to optimize LLM responses at scale, and rolling out AI adoption workshops to teach clients how to succeed in an AI-driven world.

Bloomgarden said her firm’s independence allows it to foster a culture where it continuously embraces new skills and empowers employees to explore novel thinking and develop innovative tools.

To her, that reflects the firm’s co-founder David Finn’s philosophy: “Just because you don’t know how to do something doesn’t mean you can’t.’”

Breakout Year for G&S Rooted in Purpose

Steve Halsey, chief growth officer of G&S, called 2024 “a breakout year marked by purposeful growth, breakthrough creative work, and continued leadership in the sectors we’ve long served."

Steve Halsey

The firm grew 13 percent to hit the $30.3M revenue mark, while maintaining strong retention across clients and talent. Fee billing in the agricultural space reached a new record, exceeding $17 million.

Creative work was a major driver of the 2024 momentum. “Our "We Are the 96' campaign with Illinois Farm Families earned national attention and multiple awards, including Best in Show at NAMA,” said Halsey.

For Syngenta, the shop broke new ground in B2B2G (grower) storytelling with the Ag in :60 video series and the “Myth or Fact” campaign featuring agronomic Sasquatch Bill Biggfoote, engaging growers in fresh, meaningful ways.

“We made a bold move with the acquisition of MorganMyers, a premier agency known for its legacy in agriculture and food,” noted Halsey.

That acquisition prompted the formation of the G&S integrated marketing communications group, which now houses two go-to-market brands: G&S Business Communications, focused on B2B and B2B2C sectors, and MorganMyers, a G&S Agency, which continues its deep specialization in public relations in ag and food sectors.

G&S continued to evolve its culture, giving employees weekly flexibility and global “work from anywhere” opportunities.

It expanded parental leave benefits, elevated DE&I commitments, and welcomed a new CEO, Anne Green, along with other key leadership appointments.

Halsey said through its Building Brand Gravity podcast and active industry leadership in Page, and the PR Council, G&S remained at the center of the conversation — helping brands navigate complexity, earn trust, and inspire action.

MWW Pares Roster, Boosts Profit Margin

MikeWorldWide posted a 1.1 percent rise in 2024 fee income to $57.1M as it streamlined its client portfolio.

“We moved away from $2.5M in unprofitable accounts, reducing our client base by 40 percent,” said CEO Michael Kemper. “This deliberate shift enabled us to enhance profit margins, approaching 25 percent, and reinvest in what matters.”

Michael Kempner

The PR firm chalked up major wins, including a seven-figure creative and media buying program from Dominion Energy, public relations assignments from Mattress Firm to reach Gen Z consumers, and digital and content work for NFL Style.

Kempner said his firm made heavy investments in the proprietary AI framework PRISMA that help achieve greater precision and predictability in client programming and counsel by providing data-backed clarity on where and how to invest in reputation to spark real brand love.

The PR firm doubled down on what clients need most: category expertise and cultural relevance.

In late 2024, MWW launched Everywhere, a boutique social agency built for brands with midsize budgets and big creative ambition that are underserved by legacy players.

It solidified a 10+ year partnership with sports marketing powerhouse Berk Communications with a full acquisition, creating one of the largest sports public relations practices in the country.

In addition to integrating Berk’s 30+ staff, MWW made strategic hires in influencer marketing (Breanna Santerre from BENlabs), crisis (Alex Dudley, former principal at Cloudbreak Communications), and creative (Chris Newkirk, executive creative director joined from Praytell).

The firm appointed new heads in London (Sarah Moloney joined from KWT Global), and Los Angeles (Alisa Granz from RCPMK).

Looking ahead, Kempner said MWW will focus on three strategic priorities.

The firm will expand its PRISMA AI capabilities to deliver more reputation insights, scale newly launched offerings across new markets, and deepen category expertise in high-growth sectors.

“We’re committed to maintaining our agility and independence as differentiators in a consolidating market, while continuing to invest in the talent and technology that drive measurable impact for our clients,” said Kempner.

APCO Rebrands in 40th Anniversary Year

APCO CEO Brad Staples recorded a 3.1 percent rise in fee income to $236.4M as it navigated a sluggish global economy.

It achieved strong performances in the MENA region (up 21.3 percent) and the UK (up 13.5 percent). Those achievements reflect APCO’s ability to adapt to regional dynamics and deliver impactful solutions to clients.

Brad Staples

In 2024, APCO expanded its global footprint by establishing a presence in Kyiv, led by Sonya Soutus, a global business and government relations expert, and in Mexico City, with Martha Delgado Peralta, a former undersecretary for multilateral affairs and human rights at the Mexico Ministry of Foreign Affairs, as Latin America Chair.

In celebration of its 40th anniversary, APCO unveiled a new brand identity emphasizing its dedication to providing advisory and advocacy services that help clients handle global complexities.

Building on its recent acquisitions of financial communications firm Camarco and business transformation specialist Gagen MacDonald, APCO now has the ability to support clients as they engage all stakeholders, from investors to analysts, regulators to customers, employees to communities, within a single, integrated operating model.

APCO introduced Margy: its adaptive intelligence platform. Margy captures the collective expertise of APCO’s global experts and synthesizes that knowledge to deliver fresh, data-driven insights without hallucinations or risking client secrets.

This fusion of technology and human expertise positions Margy as a competitive edge for clients, blending human intuition with analytical prowess to ensure clients are always a step ahead.

Agenda '24 was a notable initiative by APCO that leveraged global connectivity and local market coordination to establish a predictable cadence of analysis, briefings, webinars and roundtables.

It brought clarity and context for clients around key political milestones, showcasing APCO’s ability to provide timely and relevant advisory insights.

The PR firm’s strategic expansions, key hires and innovative initiatives positioned APCO as a leader in investor communications, external affairs, crisis and reputation management, business transformation, trade and geo-commerce and market entry and reconfiguration.

Finn Partners Remains ‘Strong & Steadfast’

FINN Partners’ fee income grew 2 percent to $199.8M based on a balanced mix of new business and organic growth.

It added more than 200 new clients across all major practice areas, with global health, travel, consumer and financial services practices seeing the most robust growth. FINN has about 1,000 clients and a retention rate of 87 percent.

Peter Finn

The firm bolstered its overseas presence via a pair of strategic acquisitions to strengthen its practices, build market share, and expand its footprint in regional markets.

It acquired Claudine Colin Communication, the Paris-based shop focused on arts and culture, and RICE Communications, a strategic communications and PR consultancy in Singapore.

With the addition of RICE, FINN APAC now has a staff of nearly 250 people and USD $15 million in revenues.

The firm added new specialist service offerings, including media forensics & risk intelligence to help clients combat mis/disinformation, as well as FINN Luxe, a global cross-sector specialist luxury arm spanning arts/culture, automotive, fashion, beauty, food, health and wellness, travel, real estate and more.

Peter Finn calls his firm a global, independent agency with a heart and conscience.

“Though the world has turned upside down in many ways, FINN’s vision and values remain the same — stabilizing our business and providing a safe harbor for clients and talent navigating the seismic shifts in our industry and world,” he said. “In an extremely challenging year, our business has remained strong and steadfast, and we solidified our global position among the world’s leading companies delivering best-in-class PR and marketing services.

Marketing Outlays, Exec Additions Spark V2’s Growth

V2 Communications, which serves the B2B, climate, and healthcare technology sectors, recorded a 7.7 percent boost in fee income to $8M.

Jean Serra, founder/CEO, said marketing investments, leadership team additions and new service offerings sparked V2’s success in attracting new clients and expanding its service footprint with existing brands.

Jean Serra

“The key to success in this competitive environment is focusing on what today’s brands really need: smart, strategic, integrated communications,” said Serra. “To meet this need, V2 launched its Vantage Methodology, a proprietary approach for integrated earned, owned and paid campaigns that deliver measurable business results for brands.”

To ensure a consistent, and compelling experience for clients, V2 appointed Katelyn Holbrook as its first-ever Chief Client Officer. Her role is focused on high-quality, high-impact service across all client teams and identifying new to meet the evolving needs of V2 clients.

The Boston-based public relations firm also named Deanna Hoffman as marketing manager to lead thought leadership and awareness campaigns. A major push was the launch of V2 Live!, a series of in-person and virtual events to bring together communications professionals and engage in meaningful conversation about what’s next in the industry.

V2 added clients across its core sectors including Cloudera, Electric Hydrogen, InStride Health, and Machinify.

“Our continued growth reflects the trust clients place in our team to deliver bold, business-minded communications,” noted Serra. “V2 is a true partner for brands shaping the future—and 2024 was proof that our integrated model delivers what modern companies need.”