Strongest growth in media and public relations
By discipline, Media Investment Management led the way, together with Public Relations & Public Affairs and Specialist Communications, the latter particularly in direct, internet and interactive. Public Relations & Public Affairs continued to grow strongly, even at a late stage in the economic cycle. This seems to be driven by the increasing influence of social networking and blogging on the internet and the resultant increasing importance of editorial publicity. Advertising, Information, Insight & Consultancy, and Branding & Identity and Healthcare Communications also registered good performances.
Marketing services rose to almost 54% of our revenues in 2007, up from 52% in 2006, due to strong growth, particularly, in Public Relations & Public Affairs and Branding & Identity, Healthcare and Specialist Communications. It is no longer accurate to call us an advertising agency.
By geography, Asia Pacific, Africa and the Middle East, Latin America and Central and Eastern Europe led the way. The US showed surprisingly solid growth along with Spain. The only laggards were the UK, and to some extent France, although Germany and Italy showed some improvement. As a result, markets outside North America now account for over 62% of our revenues, up from 60% the previous year and from 58% in 2003 and 56% in 2002. The influence of the faster-growing markets outside North America is increasing rapidly. China alone, for example, will offer us, for the first time, a bigger absolute growth opportunity in 2008 than the US.