The Guardian reports that WPP chief Sir Martin Sorrel credits the growth of social networks and the "referral economy" for an upswing in the PR industry.

The thinking goes that, as advertising loses out to more conversational marketing, editorial references and consumer recommendations, PR’s ability to get their stories into the mainstream media is helping companies reach the online chattering classes faster and more effectively than ever before.

Imagine what will happen when those companies realise they also have the power to publish and no longer see the need to pay PR reps to "influence" the shrinking mainstream media. Nah….could never happen right?