Strong Growth in Spending on Media Intelligence Software & Information - Burton-Taylor Report
- Total spending tops USD 4.8 billion, up 7.5%, as demand for social media tools and insights sustains the market
LONDON and NEW YORK, April 27, 2021 /PRNewswire/ -- Annual spending on Media Intelligence solutions for public relations professionals is now over USD 4.8 billion, with 7.5% year-on-year growth, according to a new report published today by Burton-Taylor International Consulting (part of the TP ICAP group).
The analysis shows that customer demand for social media management tools and insights into the impact of communications activities kept the overall market in growth mode, though spending on other PR tools fell away under the impact of the coronavirus pandemic.
Many small to medium-sized Media Intelligence providers flourished in the market environment, while several of the bigger ones again had muted or negative performance.
"There is a really noticeable trend, across regions and areas of activity, for buyers to turn towards smaller and more nimble providers," said report author Chris Porter, Director at Porter Walford Consulting and a consultant to Burton-Taylor.
"Many long-established companies such as Cision, Meltwater, Kantar and Isentia have been going through various forms of transition," Porter added. "Meanwhile we've seen significant growth from highly focused newer-generation providers such as Muck Rack, PublicRelay, Roxhill Media, UNICEPTA, Access Intelligence 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 – acquiring specialized social solution vendors Linkfluence and Klear – and Cision, acquiring Brandwatch.
"When Burton-Taylor started analyzing buying patterns for PR tools back in 2012, we expected a move towards larger providers, helping users to manage all aspects of PR communications through an integrated solution," said Robert Iati, Managing Director at Burton-Taylor. "That has sort-of happened, to some degree; but PR professionals still have unmet needs, which is why so many new niche PR management tools are coming to the market".
The 145-page Burton-Taylor report Media Intelligence/PR Software & Information Global Share & Segment Sizing 2021 can be purchased by visiting https://burton-taylor.com/mediaprreport-2021/ 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 (www.burton-taylor.com)
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 industry benchmark standard globally. For further information see www.burton-taylor.com.
About TP ICAP (www.tpicap.com)
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.
SOURCE Burton-Taylor International Consulting
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