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TransMedia Group Sees Recession and Rising Power of Social Media Increasing Corporate Demand For PR
1/15/2010
One of Florida's oldest and largest PR firms, TransMedia Group (www.transmediagroup.com), cites its own growth in 2009 along with an article in The Economist magazine as further evidence that public relations is emerging as a dominant force in marketing thanks to the recession and social media.
"Who cannot but be impressed by the power of social media and the role it's playing in such catastrophic events as the earthquake in Haiti and before that in the riots and bloodshed on the streets of Iran," said TransMedia's founder Tom Madden.
"In 2009, our revenues were up significantly over the previous year and we have had to expand our staff to accommodate a spate of new clients, including such large firms as The Continental Group, the state's largest property manager," said Madden, a former top executive at NBC in New York City, where he started his award-winning international PR firm.
Madden cited The Economist reporting "undeserved bonuses, plunging share prices and government bail-outs, among other ills, have elicited the ire of the media and public - and created a bonanza for public-relations firms."
TransMedia said it is currently promoting "Bailout," the board game and recently has increased its social media marketing services to such clients as Fitness Nutrition, whose spokesperson is 12-time Olympics medalist Dara Torres.
Another factor increasing the relevance of PR is the reduced staffs at media outlets across the country for whom PR serves as a surrogate in gathering news, said Madden. "We see our role more than ever before as helping and assisting media in covering their communities," he added.
"The recession has increased corporate demand for PR in all forms, analysts say, and has enhanced the industry's status." In contrast to other forms of marketing and media, spending on PR has increased over the past couple years. By 2013, PR spending in America will surpass $8 billion, according to one forecast. Other contributors to public relations' growth are the Internet and social media.
Madden said he expects spending on digital PR to increase in perpetuity.
TransMedia Group is a multi-lingual firm serving clients worldwide since 1981.
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