Number of CMOs and CCOs managing PR budgets of over $100 million rises to 31%

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 07, 2019, 12:53 PM UTC

This was 11% in 2018, fall from 50% in 2015.

Holmes Report’s Influence 100 study determines that PR budget and agency expenditures are changing. Companies with PR budgets between $75 million and $100 million dipped by 6% in 2019 from 14% last year.

Businesses investing over $100 million on PR budgets grew to 31%. This is an increase from 11% in 2018, which was a drop from 50% in 2015. However, companies handling PR budgets between $50 million and $75 million rose from 11% in 2018 to 17% in 2019.

The report found that together the CMOs and CCOs that were surveyed control PR and other marketing spend worth over $4.8 billion. This is a 45% increase from $3.3 billion in 2018. Currently, of the respondents, 34% spend between $10 million and $30 million on PR agencies.

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