Interacting with the media is one of the most stressful yet satisfying aspects of being in public relations. You can experience success, the thrill of the chase and the agony of defeat—all in the same day.

But there are two economic forces at work that have begun to intersect in a way that threatens the reputation of both the media industry and the public relations profession.

The financial challenges facing traditional media have led to understaffed newsrooms and shrinking news holes. Financial pressures continue to mount on media organizations who have stumbled in the transition to an online business model.

These issues matter little to clients who value quality media placements. Communications professionals on the agency and the client sides of the business continue to face pressure to "get clips"—tear sheet trophies that, in many cases, can mean the difference between retaining or losing sizeable revenue.

The result is a fertile environment for "pay for play."

In the sixth annual PRWeek/MS&L Marketing Management Survey, almost one in five (19 percent) of 252 chief marketing officers and marketing directors acknowledged that their organizations had bought advertising in return for a news story. That represents a two percent increase from last year's finding.

The survey also found that eight percent of respondents, up from five percent in 2007, said their organizations paid or provided a gift of value to an editor or producer to place a news story about the company or one of its products. And 10 percent said their organizations have at one time or another had an "implicit/non-verbal agreement with a reporter or editor that you expect to see favorable coverage of your product or company in exchange for advertising."

PR pros should shiver at these statistics. More often than not, we are hired on the basis that we have media relationships; we are smart and strategic about the story ideas we cultivate; we know the audience our media contacts are writing for; and, with some hard work and persistence, we get results. But when news becomes advertising, we will be out of jobs.

Pay for play has been a 10,000-pound gorilla in our business for far too long. During the dot-com boom, it was assumed that when you purchased ad space for a client in a trade vertical, you would get some attention from the editorial side. It was one of those wink-wink rules exchanged around PR camp fires. The survey results fan those flames.

No one wins if this continues and here's why:

• It makes it tougher for PR pros to secure stories, especially in the trades where the editorial side is a paper clip toss from the ad side. The space for your client's great story might not exist because it's been snatched up by a quid pro quo placement.

• A legitimate media placement has value because it represents a third-party validation of your product, initiative, company or executive. What credibility does a story have if questions surround how it appeared or the ethics of the media outlet that published it (not to mention, the impact on consumers who rely on credible news media)?

• It undermines the value of media relations experts and weakens the PR talent pool. Those of us who remember when faxing a news release meant pitching, understand the elements of a good news or feature story, and accept the leg work it takes to secure quality coverage. Today's young professional is learning the skill in an environment where pay for play has moved from a rumor to a tactic.

• Lastly, pay for play scandals hold an opportunity for significant backlash, especially in the dot-com world where information spreads faster over social media sites like Twitter, FriendFeed and Facebook than it does on the Associated Press news wire. The PRWeek /MS&L survey revealed that more than half (53%) said the marketing industry is not following ethical guidelines in the new-media realm, an increase from a year ago.

In today's evolving media environment, securing coverage requires a thick skin, patience, honesty, maturity and multiple skills, including strong writing and research abilities. At least, that's the way it should be. This survey paints a picture of PR in which money speaks louder than words.

Donald E. Martelli is a vice president in the corporate practice of MS&L Boston. He is a 14-year veteran of the communications business and blogs on various PR topics for MS&L Boston at prfinishline.blogspot.com.