PR Pitches and mergers & acquisitions: November 2023 update
Welcome to the PRmoment Podcast.Welcome to our November review of PR Pitches and mergers & acquisitions in the UK PR scene with Andrew Bloch.He is the lead consultant - PR, Social, Content and Influencer at the new business consultancy firm AAR and a partner at PCB Partners, where he advises on buying and selling marketing services agencies.Andrew was also a co-founder at PR agency Frank PR, where he is still a non-executive director at Frank PR.Before we start, we’ve got some huuuuge news - The PRmoment Awards 2024 are now - OPEN!There are some exciting changes this year; we’ve tweaked the categories, refined the entry form and launched a regional champions scheme with no additional entry fee to reach the work across the UK.Do check out the PRmoment Awards microsite.Also, thanks so much to the PRmoment Podcast sponsors the PRCA.Finally, thanks to PRmoment’s data and insight partners, Meltwater, for supporting this podcast.2 mins Andrew on how this year's pitch golden quarter is going!Andrew’s current outlook for public relations:“Things won’t really pick up pace until the second quarter next year.”“Great companies do well regardless of the economy, and it’s the ones that aren’t as well run, that aren’t as strong, that suffer when the economy wobbles.”“I think we will see an uplift overall in (PR) industry in spending this year.”“Because we’re always on…we are more protective of when we do get some shut off time.”6 mins How does Andrew look back on the pitching year of 2023?“Not a boom year…but healthy.”“Tech’s had a tough year, but coming out of it now…you’re already seeing that come back. Which is great.”9 mins Andrew and Ben reflect on the sad news that Science Magic, previously The London Communications Store, has gone into voluntary receivership.“This was a sizable firm of over 100 people.”“You can look at lots of agencies and quite clearly see they are overstaffed for the level of fee income they’ve got.“Now you have a lot of specialists within an agency…who aren’t necessarily direct revenue drivers.”“PR firms have a higher cost base now than they ever have.”11 mins This month's PR new business news:Tin Man wins Mars Pet Care (Royal Canin) and Yeo Valley.Sunny Side Up wins Majestic WineJohn Doe wins the Pernod Ricard wine portfolio and Sports Direct.Duet London wins INSHURFrank wins Lounge.tv and Not On The High StreetRed wins Toshiba TVThree Sixty wins Wizz AirThe Romans wins The Gym Group, Formula E and Tony's ChocolonelyHatch wins 365H&K wins Philips Domestic AppliancesPHA wins Alith PayLittle Red Rooster wins Hush Puppies26 mins November’s PR M&A News:Life Sciences firm Eversana have acquired digital health consultancy Healthware GroupFreuds buys creative art agency Lawless StudiosUS private equity firm EagleTree Capital buys MMGY GlobalHavas buys Indian consumer firm PR Pundit.Splendid buys DIY Creative.