UK marketing budgets increase for first time in 18 months: Q2 2021 IPA Bellwether

What's New in Publishing 15 Jul 2021 06:25

Today’s Q2 2021 IPA Bellwether Report shows that UK companies have revised their total marketing budgets up for the first time in a year and a half (since Q4 2019) and to the sharpest extent since Q1 2019, as confidence levels remain in firmly positive territory whilst ad spend forecasts have been revised higher. The latest results bring to an end a five-quarter sequence of continual cuts to overall marketing spend.

The report also found that ‘financial prospects at company and industry level remain firmly in positive territory and ad spend forecasts are now revised higher for 2021, as businesses began to prepare for a strong economic recovery’.

The key segment of marketing, main media, also recorded growth in the second quarter. Within main media, video (+4.2%, from +3.3%), audio (+1.1%, from -9.0%) and other online advertising (+11.0%, from 0.0%) all grew. Disappointingly, within main media, advertising budgets for UK publisher brands were downwardly revised (-6.1%, from -22.2%), signaling continued pressure on publishers despite the underlying improvement.

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