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How much of an agency’s revenue should come from digital? Did social media win Barack Obama the presidency? How will the financial industry remake itself in the midst of massive scandal and meltdown? These were just some of the questions debated last night at “The Business of PR” panel discussion hosted by The Economist at the 92YTribeca in New York.

The panelists, Burson-Marsteller CEO Mark Penn, Rubenstein Communications President Steven Rubenstein and Ruder Finn CEO Kathy Bloomgarden were joined by moderator Mathew Bishop, American Business Editor and NY Bureau Chief of The Economist.

“Your life is more and more on the record if you’re someone of interest, and that’s just a fact of life,” said Penn, in regards to new media. “There is much more engagement than ever before with bloggers, journalists,” he said. In terms of CEOs or politicians who once thought that they could ignore one or two detractors, “that just can’t exist in this environment.”

Ruder Finn’s Bloomgarden disagreed, and stated, “You can ignore people.”

Click continued to read the complete recap and view PRNewser’s video interview with Burson-Marsteller CEO Mark Penn.

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