Ever since we've heard the news, we've been pondering about what Warren Buffet sees in Business Wire. It's a great company, don't get me wrong, I love those guys, but to meet the criteria of Berkshire Hathaway there's got to be some serious upside. So then we saw the Economist story that pegs the PR market at $3.7 billion in the US, and figure that's not chump change. And the economist predicts it will grow by 9% a year.
What it means for folks like me in the measurement budget is even more interesting. If on average, an organization spends 5% of their PR budget on measurement, that means the potential marketplace for measurement products is about $185 million. Most surveys say that on average only about 40% of organizations are actually measuring their results. So realistically, the market today is about $74 million. My guess is that if you add up all the revenues of all the US-based PR measurement companies today, not counting the clipping services, you might get to $50 million. Which means that there's another $24 million out there up for grabs. And if we can convince the other 60% that aren't measuring, there's enough business out there for all of us.