Edelman, public relations firm, has reported a decline in global revenue, falling below the $1 billion mark after two consecutive years above it. The firm's 2024 like-for-like global revenue, excluding currency fluctuations, totaled $986 million, a decrease from the $1.04 billion reported in 2023.The drop was particularly pronounced in the United States, Edelman's primary market, where revenues fell by 7.9%, from $639 million to $589 million. Similar declines were observed in the Asia-Pacific (APAC) region, with an 11.5% decrease, and the United Kingdom, which saw a 5.2% drop."It was a challenging year for PR, but also for the entire communications sector," acknowledged Edelman CEO Richard Edelman. Despite the revenue dip, Edelman emphasized that the firm's focus remains on providing comprehensive services rather than solely on size. "We're determined to get back there, but size was never a big thing for me. I just want to be big enough to have all of the industry sectors, practices and offices that enable us to be the premier communications firm," he stated.Several factors contributed to the revenue decline, including losses in key client accounts such as Adobe, Charles Schwab, and Dairy Management. Sector-wise, health, technology, and food and beverage were the most impacted.However, there were areas of growth. EMEA revenues saw a modest increase of 1.3%, with notable performances in the UAE and Saudi Arabia. Additionally, the government and retail sectors showed growth, as did financial communications.Edelman also underwent restructuring efforts, including layoffs and the consolidation of sub-brands, to adapt to the challenging market conditions. The firm also invested in AI, integrating its proprietary LLM product, ArchieAI, into its TrustStream platform.Despite the financial setbacks, Edelman celebrated creative successes, including winning a Titanium Lion at the Cannes Lions International Festival of Creativity. The firm also made strategic hires and promotions to bolster its leadership team.The company's leadership remains optimistic about its future, citing recent new business wins and the positive impact of its restructuring initiatives.