New Delhi: The Public Relations Consultants Association of India (PRCAI) has unveiled the SPRINT 2024-25 survey report, highlighting the dynamic evolution of India’s PR industry. Surging to ₹2,500 crores in revenue in FY23—a 19% year-on-year growth—the industry has outpaced global growth rates by over threefold. With a compounded annual growth rate (CAGR) of 12.8%, the industry is projected to nearly double to ₹4,570 crores by FY30, driven by increasing demand for strategic PR, digital innovation, and influencer marketing.
The survey, conducted by Ipsos in collaboration with Astrum Reputation Advisory, gathered insights from 220 industry leaders, including corporate communication heads and consultancy executives, revealing transformative trends that are reshaping the PR landscape.
Key Growth Drivers
Strategic Shift to Business Outcomes:
The survey indicates that PR is no longer just a media-focused function but a strategic partner in achieving business goals. 90% of corporate communicators emphasized the shift towards business impact over media exposure, with PR budgets now accounting for 15.7% of marketing spends, up from 9.5% three years ago.
AI as a Catalyst and Challenge:
Artificial Intelligence is revolutionizing PR, with 90% of leaders recognizing its role in driving growth. Key applications include research and strategy (82%), conversational AI (77%), and personalized content creation (57%). However, challenges like misinformation and deepfakes remain a concern, with 90% of respondents emphasizing the need for strategic differentiation.
Purpose-Driven PR:
More than half of respondents reported an increase in purpose-driven communication, with sectors like social impact, energy, and healthcare leading adoption. However, 45% highlighted concerns over authenticity, cautioning against “greenwashing.”
Influencer Marketing and Regional PR:
Influencer marketing’s contribution to revenue has grown from 10% three years ago to 18% in FY24, with expectations to rise to 28% by FY30. Additionally, 84% of respondents agreed that regional storytelling and cultural nuances are critical, with regional influencers and hyperlocal engagement gaining traction.
Talent Dynamics in the PR Industry
The industry employed 13,300 professionals in FY23, adding 4,800 jobs in five years. By FY30, it is projected to employ 22,700 professionals, reflecting a CAGR of 8%.
However, talent retention remains a challenge, with 16% attrition driven by concerns over compensation, work-life balance, and workplace culture. Gen Z professionals are reshaping workplace expectations, with 45% citing workload concerns, 41% mentioning micromanagement, and 34% stressing over work-life balance.
Deeptie Sethi, CEO, PRCAI, noted, “SPRINT 2024-25 showcases how the PR industry is rapidly evolving in an era where PR can influence reputation, and business outcomes and growth. From AI integrations to regional storytelling and digital-first approaches, the profession is consolidating best practices from global and local nuances. As the industry embraces AI and big data, it faces the challenge of navigating AI-generated misinformation, highlighting the need for strategic differentiation for us to foster creativity, adopt the right technology, and continue to build industry ready talent. As PR professionals, this is our time when we are uniquely positioned to build trust and inspire action.”
Atul Sharma, President, PRCAI, emphasized, “The findings from SPRINT 2024-25 serves as both a mirror and a map—reflecting the current growth state of India and the Industry. In FY22, industry saw a 15% growth, followed by a 19% in FY23 primarily due to a smaller market base post Covid-19. For FY 2024 the industry is projecting 11% growth considering the larger market base. The growth is fueled by the industry’s adaptability—whether it’s the rise of AI-driven tools or the expansion of regional outreach and diverse set of services, which is contributing to projected growth.”
Shaping the Future
As the industry continues to evolve, fostering inclusivity, innovation, and purpose-driven strategies will remain critical. With Gen Z professionals at the forefront, addressing their expectations and aligning PR practices with societal values like sustainability and diversity will define the next decade of growth.
The SPRINT 2024-25 report paints a promising picture of the PR industry’s transformation into a strategic, purpose-driven, and technology-enabled sector, poised for sustained double-digit growth through FY30.
