LONDON and NEW YORK and OSPREY, Fla., May 17, 2017 /PRNewswire/ -- Spend on media intelligence information and software solutions by public relations professionals grew 6.55% in 2016 to USD3.16 billion, according to a new report published today by Burton-Taylor International Consulting (part of the TP ICAP group).
The analysis shows:
- There is a large revenue gap between Cision – which recently announced plans for a USD2.4 billion public listing – and the next-biggest providers
- As of 2017, Cision's annual revenue is over three times more than its next-largest competitor and it accounts for almost 20% market share, following its acquisition of PR Newswire in June 2016
- Overall the market has grown at 5.72% (compound annual rate) over the past five years
- New players are emerging with alternatives including TrendKite or Mynewsdesk
An additional report analyses Meltwater's latest financial filings, published after a long delay. The filings show that while Meltwater has been putting pressure on Cision in the US and on the Asia-Pacific market leader, iSentia, it has been facing challenges of its own.
"Despite Cision's substantial position, there is strong competition," says report contributor Chris Porter, Director at Porter Walford Consulting and a consultant to Burton-Taylor. "As established names such as Cision itself, Gorkana, PR Newswire, Kantar Media, GlobeNewswire and Marketwired go through their various merger and integration processes, new firms are pressing forward with alternatives. We expect significant changes in market dynamics over the coming year."
Douglas B. Taylor, Founder & Managing Director of Burton-Taylor, said "Our reports help all players across various sectors more clearly understand their target markets, competitive environment and opportunities. This report gives the communications sector intelligence on providers to help make more informed business decisions."
The 136-page Burton-Taylor Media Intelligence/Public Relations Information & Software Global Share & Segment Sizing Report 2016 can be purchased by visiting http://www.burton-taylor.com/consulting/research-full.html or by contacting firstname.lastname@example.org, +1 646 201-4152.
A free download of material from Burton-Taylor's report, including extracts from the research and a report Information Kit, may be requested by visiting http://www.burton-taylor.com/research.html and inputting research sample code MIPRMARKET2017PRN.
About Burton-Taylor International Consulting
Burton-Taylor International Consulting, part of TP ICAP group, is the recognised leader in information industry market research, strategy and business consulting. Burton-Taylor Exchange, Regulatory, Risk and Compliance, Media Intelligence, PR and Market Data share figures are seen as industry benchmark standard globally. Burton-Taylor clients command an estimated 80% share of global revenue in the Market Data space and include the world's largest information companies and exchange groups, key government organisations and regulatory bodies on multiple continents, the largest advisory firms serving the industry and more than 30 of the most active private equity and investment companies around the world.
About TP ICAP
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 www.tpicap.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/communications-industry-breaks-usd-3-billion-mark-for-spend-on-media-intelligence-information--software---burton-taylor-report-300458826.html
SOURCE Burton-Taylor International Consulting