ADVERTISING spending is on the rise for the first time in more than two years., according to a new survey that highlights a recovery in the UK’s creative industries.
The latest Bellwether report, a quarterly survey from the industry trade body the Institute of Practitioners in Advertising (IPA) and accountants, BDO, shows that marketing budgets were higher in first three months of the year – the first upgrade since the autumn of 2007.
One in five companies said they had increased their marketing budgets, compared to 16pc who made cutbacks. The balance shows industry-wide spending increased by 4.5pc, compared to a 7.2pc decline in the previous quarter. More than a third of companies increased their 2010 budgets.
Confidence among executives rose with 42pc of respondents stating they were “more optimistic” about the prospects for their company, compared to 20pc who were downbeat. The balance of 22pc of executives being upbeat contrasts with a record 58pc expressing concerns at the end of 2008.
Rory Sutherland, president of the IPA and vice chairman of Ogilvy Group’s UK business, said: “It’s good to see that businesses are now increasing their investment in marketing as a route to growth. While online activities are leading the turnaround this year, conventional advertising ha now also turned the corner.”
Courtesy of The Daily Telegraph
The latest Bellwether report, a quarterly survey from the industry trade body the Institute of Practitioners in Advertising (IPA) and accountants, BDO, shows that marketing budgets were higher in first three months of the year – the first upgrade since the autumn of 2007.
One in five companies said they had increased their marketing budgets, compared to 16pc who made cutbacks. The balance shows industry-wide spending increased by 4.5pc, compared to a 7.2pc decline in the previous quarter. More than a third of companies increased their 2010 budgets.
Confidence among executives rose with 42pc of respondents stating they were “more optimistic” about the prospects for their company, compared to 20pc who were downbeat. The balance of 22pc of executives being upbeat contrasts with a record 58pc expressing concerns at the end of 2008.
Rory Sutherland, president of the IPA and vice chairman of Ogilvy Group’s UK business, said: “It’s good to see that businesses are now increasing their investment in marketing as a route to growth. While online activities are leading the turnaround this year, conventional advertising ha now also turned the corner.”
Courtesy of The Daily Telegraph
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