More NewsUK Companies Ramp up Advertising and Marketing Spend

UK Companies Ramp up Advertising and Marketing Spend

UK media companies such as broadcaster ITV and advertising group WPP have been boosted by a report from the Institute of Practitioners in Advertising (IPA), which found that marketers increased their advertising, sponsorship, public relations and other promotional budgets for the sixth quarter in a row.

The first quarter of 2014 showed the sharpest upturn in spending since the IPA began collecting bellwether data in 2000. A net balance of 20.4% of companies registered an increase in Q114, up sharply from Q413 when the increase was 11%.

The survey measures the strength of the media market by subtracting the percentage of marketers reporting a decrease from those reporting an increase. During the full financial year to April, a net 17% of marketing executives reported an increase, marking the first net positive year since 2006-07.

Marketing executives from 300 UK companies were also positive about the prospects for 2014-15, with the report forecasting that the advertising spend will increase by 4.7%.

The IPA said that investment in ‘main media’, including newspapers and TV, rose more than spending on the internet in Q114 for the first time in three years in a sign of “growing confidence and willingness amongst marketing executives to commit to high-profile campaigns”.

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