The emergence of an “earned” media marketplace, as well as a shift toward integrated paid/owned/earned media campaign strategies, has been a boon to the media intelligence and PR measurement sector within the marketing technology industry.
In a note initiating coverage of Cision, the dominant supplier of data and software for measuring and analyzing public relations and “earned” media, the equities research team at BMO Capital Markets shows the combined PR and media intel segment represents nearly 11% of the $32.5 billion marketing technology sector.
BMO, by the way, initiated Cision’s coverage with an “outperform” rating, and makes a strong case that it’s not simply a provider of PR measurement data, but an enterprise-level information technology platform for communications pros that’s akin to what Salesforce is to sales and marketing or Oracle is to marketing pros.
More significantly, it makes the case that Cision is aimed at a “total addressable market,” or “TAM” marketplace that includes other forms of earned media, not just conventional PR, and as such competes with the likes of Kantar and various newswires.
“Cision competes in the $3.5 billion media intelligence and PR information and software market,” BMO’s equities team writes, adding, “This market consists of spending on press release distribution, media analysis, media monitoring, and influencer management and grew by 6.5% in 2016. Cision is the largest player in the space, and we estimate Cision has a 21% share based on our 2018 revenue estimate of $729 million.”