Source:
https://www.podbean.com/eau/pb-kkxin-1561576

As we begin 2024, there are a lot of unsettling developments in the media industry. Layoffs and the shuttering of legacy media – it can cause a panic. But we know that change is constant and there is always a way forward.
 
Axios article: "Challenger" firms rising: Top PR talent defect from big agencies
 
Transcript
 
Michelle Kane (00:02):
Thank you for joining us for another episode of That Solo Life, the podcast for PR pros and marketers who work for themselves, people like me, Michelle Kane, with VoiceMatters, and I am joined by my wonderful co-host, Karen Swim of Solo PR Pro. Hi Karen, how are you?
Karen Swim, APR (00:19):
I'm doing great, Michelle. How are you doing?
Michelle Kane (00:22):
Oh, I'm doing really well. Thank you. I can't complain because no one wants to hear it anyway, there
Karen Swim, APR (00:29):
You haven't. I think that we're all in that same boat. We actually all could complain, probably judging by the way, 2024 starting off. Not nice 24,
Michelle Kane (00:40):
Not
Karen Swim, APR (00:40):
Nice.
Michelle Kane (00:41):
It's being a little rude. Maybe it'll start rude and end nice. Who knows? But speaking of not being okay, we want to talk a little bit about the PR panic that we've seen and felt in the air. I mean, there's been a ton of uncertainty as the years go on the pandemic, just our sources diminishing, our media pitching being so much more difficult on an ever increasing pace. And there was an article in Axios recently that sort of speaks to that, but it sort of speaks to an overall theme of the pivot of pivoting to something new that the Axios piece specifically was speaking about the rise of challenger firms. How much of the top talent is leaving the larger PR agencies and either striking out on their own or forming smaller concerns, which, gosh, that sounds so familiar. Is there a model about that, about being a solo PR pro? So if you're listening to this as a solo, you're like, I've already done that, but it's just interesting to note for sure.
Karen Swim, APR (02:03):
Yeah, I think what's also not in that particular piece that we are definitely seeing a lot of is that we're seeing PR people as well as the media pivot their careers in different ways. So we're seeing PR people turn away from delivering PR services to serving the PR industry. So we've seen all kinds of PR sales agencies pop up. We're seeing paid media services, we're seeing people start newswires or database companies, or they're coaching, they're doing something adjacent to PR but not doing pr. And when you really think about it, because it can be a little bit disconcerting when you are bombarded with all of these changes, and you're also bombarded on a personal basis with how these changes are impacting your day-to-day job, the traditional job market has been tumultuous since the pandemic. And so it tracks that. We're seeing some of that chaos impact the PR industry. And let us not forget, unfortunately, that the industry at large for so many years has been driven by traditional PR services, meaning your in-house or it's a big agency. So that chaos now in the broader workforce market is really coming home to roost for PR people and automation has kicked it into a whole different gear.
(03:48):
So we're seeing a lot of uncertainty about not only the economy, but the work market, how much you have to work with, how much you'll be able to get resources to do the job you do. What people really think about your job is they are like, could I replace some of these functions or could I downsize and have two people do what a team used to do? Because I have automation? And those are all fair questions, but it definitely can be a little nauseating for PR people watching the spin and trying to figure out, okay, how do I keep my footing in the midst of all this?
Michelle Kane (04:27):
Right? And it can be very disconcerting and disturbing. I mean, look, we know that traditional outlets have been losing advertising dollars for years just because of the way we're consuming our media is changing. I mean, that's a given. And I think a lot of it is partly due to that change outpacing the juggernaut of the industry as a whole, being able to make up for that. So seeing something like, unfortunately, the entire Sports Illustrated staff just be obliterated, is jarring because Sports Illustrated has been such a part of our pop culture or our cultural psyche for so long, and it's like, whoa, what? What's happening? So just at that base level, it's very, very disturbing. But when you kind of sit with her for a while, you think, well, I guess it kind of makes sense in a way. So how can we best position our businesses to deal with that?
Karen Swim, APR (05:35):
Yeah, these are great questions. And you're right, it's some of those old institutions, trusted institutions are failing. And so here's the reality. Yes, things are changing. Yes, jobs will go away. Yes, some people