Mikhailov & Partners Moves Up The Holmes Report 2014 Global Ranking
On 7th July, the global industry journal The Holmes Report published its Top 250 ranking of the world’s biggest communications companies. In the 2013 financial year Mikhailov & Partners took an appreciable step forward, moving up from 76th to 62nd place and achieving one of the highest growth rates in Europe.
On fee income - the key measure used to compile the ranking - Mikhailov & Partners grew by 23.5% relative to 2012, taking it 14 places higher and making it one of the 10 fastest growing agencies in Europe.
“Last year we exploited the opportunities presented by a growing market, began offering services in several new spheres and ran a number of interesting projects that not only gave us new experience, but also helped us to produce a good financial result,” commented Svetlana Gorevaya, General Director of Mikhailov & Partners.
The publication of the ranking is traditionally accompanied by a study of the state of the global PR services industry. In 2013, the PR services market grew by 11% to reach a total value of £12.5 bn. It employed 80,000 people around the world and its average income per consultant was £155,000 per annum. There was explosive growth in the communications sector in Asia, with a Chinese agency entering the ranking’s Top 10 for the first time.
Independent agencies in other parts of the world are also continuing to expand (by 12.5% last year). The authors of the study put this down to their flexibility and rapid reaction to the latest market trends: they respond more quickly to client needs, introduce new products faster, and adapt better to the impact of new technologies. Digital communications and social media were identified as the main sources of organic growth in the industry.
About the Holmes Report Ranking
The Holmes Report TOP 250 is an annual ranking of the world’s biggest communications firms, published by the global sectorial portal The Holmes Report. Russian companies have taken part in the ranking since 2011, and in 2013 it included six Russian communications agencies. The study of the PR industry accompanying the ranking is produced by The Holmes Report jointly with the International Communications Consultancy Organization (ICCO).