TMCnet News
Surge in Spending on Media Intelligence Software & Information• Total spending tops USD5.5 billion in 2021, up 14.7%, on continued demand for social media tools and insights and bounce-back in press release spending LONDON and NEW YORK, April 19, 2022 /PRNewswire/ -- Annual spending on Media Intelligence solutions for public relations professionals is now over USD5.5 billion, with 14.7% year-on-year growth, according to a new report published today by Burton-Taylor International Consulting (part of the TP ICAP group).
Surge in Spending on Media Intelligence Software & Information The analysis shows that customer demand for social media management tools and insights into the impact of communications activities again kept the overall maret in growth mode in 2021, further helped by a surge in spending on press release distribution, which had fallen back the previous year during the early stages of the coronavirus pandemic. While most of the largest suppliers of Media Intelligence services enjoyed double-digit revenue growth in 2021 through a combination of organic growth and acquisitions, there were other notable market drivers. "While the larger providers had a better year than in 2020, there is still a really noticeable trend for buyers to turn towards smaller and more nimble suppliers," said report author Chris Porter, Director at Porter Walford Consulting and a consultant to Burton-Taylor. "We've seen renewed acquisition activity for Cision and Meltwater in 2021, but also transformational moves for Onclusive and Kantar, as well as Access Intelligence and Isentia", Porter added. "Meanwhile we've again seen significant growth from established mid-sized suppliers such as CARMA, Infomedia and The RepTrak Company, as well as newer-generation names such as Muck Rack, PublicRelay, Roxhill Media, ACCESSWIRE, NewsWhip, Truescope and others". The report again highlights the rapid growth of social media software tools such as Sprinklr and Sprout Social, as well as significant expansion in the social media space by Meltwater – integrating specialized social solution vendors Linkfluence and Klear – and Cision, absorbing Brandwatch. It also shows how tool providers are responding to hot topics such as environmental, social and governance (ESG) issues. "This is Burton-Taylor's tenth annual report on this market and we still see no end to the mergers and acquisitions activity in this market," said Robert Iati, Director of Strategic Consulting at Burton-Taylor. "There is also a wave of private equity and venture capital funding coming into the market, which reflects both the growth we have identified and the sense that public relations and communications professionals still have unmet needs." The 150-page Burton-Taylor report Media Intelligence/PR Software & Information Global Share & Segment Sizing 2022 can be purchased here or by contacting [email protected]. A free download of material for the Burton-Taylor report, including sample slides and a copy of the Table of Contents, may be requested from the site. About Burton-Taylor International Consulting (https://tpicap.com/burtontaylor/) Burton-Taylor International Consulting, part of TP ICAP group, is the recognized leader in information industry market research, strategy and business consulting. Burton-Taylor Exchange, Credit, Risk, Compliance, Media Intelligence, PR and Market Data share figures are seen as the industry benchmark standard globally. For further information see https://tpicap.com/burtontaylor/. About TP ICAP (https://tpicap.com/tpicap/) TP ICAP brings together buyers and sellers in global financial, energy and commodities markets. It is the world's largest wholesale market intermediary, with a portfolio of businesses that provide broking services, data & analytics and market intelligence, trusted by clients around the world. We operate from offices in 31 countries, supporting award-winning brokers with market-leading technology. For further information see https://tpicap.com/tpicap/.
SOURCE Burton-Taylor International Consulting 
|
View original content to download multimedia: