Global PR Agency Rankings 2024

Fast Movers 2024 

Global

In terms of geographic spread, this year’s ranking sees a notable decline from the global PR industry's traditional powerhouses, with the US and UK accounting for eight of the 15 fastest-growing agencies in the world, compared to 10 for the past two years. Even so, Western markets dominate the top of the list, led by new UK consultancy Tilton, which more than doubled in size to $1.6m in its third full year of business.

Tilton is the only firm on this list to report triple-digit growth, compared to no fewer than eight PR agencies in 2022 — reflecting the overall slowdown in the market. Once again, though, acquisitions played a significant role in terms of fuelling growth — reflecting how the M&A market is now dominated by independent PR firms, rather than publicly-held holding groups.

In second place, for example, is Apple Tree from Spain, up 90.1% to $26m, after merging with Keeper Experience. Fourth and fifth place are also taken by agencies that are the result of significant mergers, in terms of USA's Avoq (+85.1%) and Canada's Believeco (+84.3%), respectively. Which makes The Romans' performance all the more remarkable, with the UK agency taking third place after growing 90% to $17.1m.

Two more UK firms feature in the top 15, both of which can credit sectoral expertise for helping to drive their growth. In sixth position is financial consultancy Drofa Comms (+69.5%), while tech stalwart Clarity (+51.4%) ranks tenth. The USA accounts for another three firms in public affairs specialist ROKK Solutions (+54.5%) in eighth, new conglomerate Next Practices Group (+50.1%) in eleventh and boutique player Confidant (+44%) at 14. 

India supplies two firms to the top 15 this year, in the shape of generalist consultancy seventh-ranked Kaizzen (+63%) and social impact player On Purpose (+42.2%). In between those two are firms from Chile (MGC), Brazil (Sherlock Communications) and Germany (LHLK) — reflecting the increased geographic diversity on display among our Fast Movers this year. 

Above $30M

Because rapid growth rankings tend to favour smaller, newer boutiques, we also look at the fastest-growing larger PR firms with revenues of more than $30m. This year, the US provides four firms, compared to three last year, thanks to two top five players that were created by significant mergers in Avoq (+85.1%) and Next Practices Group (+50.1%). Behind Avoq in second place is Canada's Believeco (+84.3%), also the result of a merger, in this case of six agencies. The top five is rounded out by Brazil's FSB (+41.8%) and Swiss operation Team Farner, whose continuing acquisition spree helped fuel growth of 38.5%. 

Farner, however, is the only European firm in the top 10, with the remainder of the table dominated by Asia and the USA. Two Korean firms make the top 10, bucking traditional trends, with Prain Global up 30.5% to more than $70m and KPR Associates cracking the $30m barrier after growth of 27.8%. China's CYTS-Linkage also had a strong year, with topline expansion of 30.3% helping secure seventh place. 

That leaves US player Jackson Spalding (+24.2%) and corporate/public affairs giant APCO (+23.1%) to round out the top 10. 

USA

Breaking with recent tradition, the fastest-growing agency in the US, Avoq, is substantially bigger than we’ve seen in the top seeds the last two years — and by far the largest among this year’s top 10. Avoq grew 85.1% to $89.3 million since it was created by the merger of public affairs firms Subject Matter and Kivvit last May; it was also the world’s fourth fastest-growing agency. Another key difference this year is that even the top performers experienced double digit growth, whereas last year top seed Salient Global and second ranked Ascend Agency each grew by triple digits — 558.9% and 173.4% respectively.

Public affairs firm ROKK Solutions was the US’s second fastest-growing firm in 2023, during which revenue rose 54.5% to $17 million. But it was the third-ranking firm in terms of growth, Next Practices Group, that was closest in size to Avoq among the top 10. In a year that saw three acquisitions, the young firm (Next Practices launched in 2021) grew 50.1% to $50.7 million.  

From there, the list includes Confidant, which, with a staff of big-agency defectors, grew 44% to $7.09 million and Upspring, which, having expanded into new sectors last year, expanded by 40.7% to $8.3 million. Ascend Agency, the only agency on this year’s list that was a 2023 Fast Mover as well, grew 40.3% to $10.7m. Seventh-seeded Alloy, an Atlanta tech agency founded as ARPR in 2016, was up 34.7% to $4.3 million.

The list is rounded out by Fiona Hutton & Associates, a Los Angeles area independent that saw a 26.6% rise in revenue to $9.7 million after more than two decades in business. Our ninth fastest grower, Jackson Spalding, saw income rise 24.2% to $34.7 million in 2023, which the firm capped by winning AT&T’s business. J/PR, a travel and lifestyle agency, rounded out our list, growing $23.5% to $21 million.

Americas (Excluding USA)

After two years of being outnumbered by Latin America firms, Canadian agencies captured half the spots on our Americas (excluding the US) fast mover table, accounting for half of the 10 firms on our list.

Calgary-based Believeco Partners — created by the merger of Venture Play, Brightworks, Revolve and Zync — was the Americas’ fastest-growing firm in 2023, with fee income up 84.3% to $36.2 million.

The next three firms on the list are Latin American. Chile’s MGC ranked second; the firm’s revenue rose 53.8% to $6.8 million. Sherlock Communications, the Brazil-based agency whose work spans Latin America, rounded out the top three after seeing revenues rise 49% to $5.5 million. FSB Holding, also Brazilian, grew 41% to $113 million, making it far and away the largest agency on this year’s list.

The fifth spot on our list belongs to Montréal’s Tact Conseil, which has a heavy focus on public affairs and government relations in addition to communications; the agency ended 2023 up 33.7%, with revenue at $16.5 million. From there, the list includes Colombia’s Smart PR, which expanded by 27.3% to $1.9 million. The seventh and eighth fastest-growing agencies were Canadian: Casacom and Craft Public Relations, which grew 20.2% to $4.3 million and $17.8% to $8.3 million respectively.

The remaining two fast movers include Brazil’s Approach, which was last year’s third fastest mover — and in 2023 saw revenues rise 14.2% to $10.2 million; and Toronto’s Proof Strategies, whose 7.3% expansion meant $20 million in 2023 revenues. 

UK

It’s an all-new UK table this year: none of the 10 fastest-growing agencies based in the UK were featured in 2023. The slowdown in the UK market is obvious, with the threshold for inclusion being fee income growth of just 24.4%, compared to 54.6% last year. That’s still a fraction higher than 2021, though, where the tenth fastest-growing agency grew by 22%.

The top spot for the UK is taken by The Tilton Consultancy – founded by former APCO and Coca-Cola EMEA comms chief Jonathan Chandler in 2021 – which is also the fastest-growing agency in the world, with growth of 123.2% to fees of $1.6m. This also shows a slightly reduced level of growth at the top end of the table compared to last year, when the fastest-growing UK agency was up by 148%.

Newer agencies frequently make an appearance in this table – unsurprisingly in the early years of rapid growth – but second, third and fourth place this year go to well-established agencies. In second place is The Romans, which grew by nearly 90% to just over $17m, after a stellar year that included expansion to Amsterdam and Dubai.

Third place goes to financial and fintech comms specialist Drofa Communications, founded by Valentina Drofa in 2011, which grew by 69.5% to $4.5m. Fourth place goes to Clarity – one of two technology agencies in the table after a particularly tough year for the sector – which grew by over 51% to $18.3m, partly thanks to the acquisition of Sydney-based Sefiani, the group’s first APAC expansion.

Another tech agency, high-growth B2B and B2C start-up and scale-up specialist Words + Pixels, grew by 38.5% to $2.3m in fee income in its third year in business, taking the midway point in the table. Sixth place goes to strategic communications firm Woodrow, with growth of more than 37% to almost $3.7m.

In seventh place is the highest-placed of two healthcare specialists in the UK table: InnerCircle, launched by former Evoke Kyne director Willoughby Badger in 2022 – which grew by 36% to almost $1.3m. Healthcare specialist 90TEN, meanwhile, is in tenth place, with growth of 24.4% to just shy of $13m.

Eighth place is taken by 14-year-old digital content agency The 10 Group, which grew by a round 30% to $9.9m, and ninth place goes to Taylor Herring – which has gone from strength to strength since being acquired by Publicis in 2021 and posted fee income growth of 25% to $12.7m. 

Europe

This year’s European table features agencies from six countries, the same as last year, but with only one agency duplicated from 2023. Bearing witness to something of a renaissance in the Southern European PR market, half of the 2024 top 10 fastest-growing agencies hail from that region, with Spain accounting for three of the top 10 – including the top spot – and Italy for two.

First place this year goes to Spanish firm Apple Tree, which grew by over 90% to just under $26m, including income from influencer marketing specialist Keeper Experience, with which it integrated last year.

The two other Spanish agencies in the table are Torres y Carerra, in fourth place, which grew more than 30% to $4.2m, and seventh-placed Atrevia – our Iberia Consultancy of the Year this year – which grew by more than 21% to $48m, after acquiring Spain’s Microbio and Uruguay’s Nueva last year.

The continental European table is dominated by much larger agencies than the UK table, with half of the top 10 far-exceeding the income of the largest firm in the UK’s fastest growing list. This included Switzerland-based Team Farner – the only agency to also be in the 2023 Fast Movers table – which made third place with growth of 38.5% to $123.8m, partly thanks to a run of acquisitions across Europe, including Zurich-based behavioural science group Affective Advisory, Austria’s The Skills Group and All Channels, and London’s Lansons.

The other giant agency group in the table is Germany’s largest integrated comms agency, Media Consulta International Holdings, in tenth place, which grew by almost 20% to $420m. It is one of two German agencies listed: the other is Munich-based LHLK – also the thirteenth fastest-growing agency in the world – in second place in the European table with growth of 46% to $12.4m.

Italy is also the home of two agencies in the table: in sixth place is public affairs and reputation management firm Excellera Advisory Group, which grew 23% to $34.5m, including the 2023 acquisition of Value Relations, while in ninth place is another public policy and advocacy firm Utopia Lab, which grew nearly 21% to $9.4m.

The sole representative from France is Jin, in eighth place, which grew 20.6% to almost $16m, partly thanks to the smart 2023 acquisition of French digital consulting firm Opinion Act. The final agency in the top ten is Czech Republic-based independent Ewing, in fifth place, which grew nearly 30% to $3.85m. 

Asia-Pacific, the Middle East and Africa

The threshold for inclusion in the top 15 for fast growers across Asia-Pacific, the Middle East and Africa drops to 23% in 2023 from 28% in 2022, despite stronger returns across the board. And there are still several notable performances, with Indian firms occupying the top three spots on the regional ranking — reflecting that country's vibrant PR growth in 2023.

India's Kaizzen (+63%) takes first place after ranking sixth one year ago, ahead of social impact consultancy On Purpose (+42.2%) and generalist player Media Mantra (+39%) in third. 

Two Korean firms round out the top five, bucking traditional trends, with Hahm Shout Global reaching almost $13m after expanding almost 38%, and domestic leader Prain Global up 30.5% to more than $70m. Another Korean firm — KPR Associates — takes seventh, cracking the $30m barrier after growth of 27.8%. 

China only features one firm this year, in CYTS-Linkage (+30.3%), while last year's number one, perennial fast grower Redhill, ranks eighth following topline expansion of almost 24%. 

The top 10 is rounded out by two African representatives. Nigeria's Blackhouse Media (+23.8%) is equal eighth after placing seventh last year, and South Africa's Clockwork is close behind in 10th place.