The global public relations software industry — which includes services like media monitoring and press release distribution — grew 14.7% to $5.5 billion in 2021 as the effects of the pandemic waned, according to a new report.
The biggest players, Cision and Meltwater, grew at double the pace in 2021. But they and other giants lost market shares as smaller players exploited companies’ need to harness social media, spread their news, and stay on top of hot issues.
The 150-page report by research firm Burton-Taylor International Consulting, “Media Intelligence and Public Relations Software / Information Global Share & Segment Sizing 2022,” tracks M&A activity, sector trends, and how large and emerging players are performing.
Cision and Meltwater dominate the market with a share of 15.2% and 7.3%, respectively, but their share has eroded. Meanwhile, there is another group including small niche companies that are capturing the rest of the market.
Here are eight companies described in the report as rapidly growing and with strong potential to continue expansion (includes revenue where available):
- Intrado owned by Apollo Global Managementrebranded to Notified in 2021, is the fourth-largest PR firm, growing 11% to $125 million in GlobeNewswire’s press release distribution and media monitoring business — and it’s teetering on the heels of the No. 2 news player business. Wire and outpaced Kantar, whose business declined before it was acquired by private equity firm Bain Capital.
- No. 5 player access to intelligence It is a UK-based company that provides media monitoring, media analysis and other services. It acquired Australian information and media monitoring company Isentia in 2021 to support growth in the US and Europe and add new product features. The deal helped increase revenue 73% in 2021 to $46 million.
- single is a Germany-based company providing media monitoring and analysis services and the eighth largest public relations firm in the public relations field. It has grown steadily at a double-digit rate, expanding 10% in revenue to $57 million, through organic growth and its acquisition of fellow German company, market intelligence firm Ubermetrics. It has set its sights on significant global clients and analytics, placing more direct competition with platinum-owned Cision.
- Dubai based Karma, Digital Insights and Engagement, is a regional company to watch as it expands beyond its market. It grew 20% to about $40 million in 2021 thanks to strong growth in Asia, where it competes with Insentia and other regional competitors and is optimistic about its continued growth.
- The other challenger is Denmark Infomedia, a media monitoring and analysis company with global ambitions. The company expanded 5.3% to $34 million in 2021 with double-digit growth of its media analysis business, expanding to clients in Norway, Sweden and Finland.
- Based in the United States mud rack It has taken steps to expand its media analysis, reporter/influencer management, offer dashboards and reporting tools and add podcasters and newsletter authors to its media database as it appeals to a larger group of clients. The company generated 75% annual recurring revenue in 2021 and plans to hire 100 employees in 2022.
- Based in the United States Agility PR solutions from Innodata It grew 14% in 2021 to $13 million, driven by media monitoring services. It is also growing in media database services and accelerating product improvements.
- UK press contact database provider Rockhill Media Revenue increased about 35% to about $9 million in 2021. The company claims to have added 300 clients for a total of 1,500 clients, a mix of clients from competitors as well as first-time users, by helping companies understand what journalists want to write about.