UK AdSpend back to black: forecast from IPA Bellwether for Q1 2023 shows that total UK marketing budget growth is its strongest since Q2 2022.
Despite a challenging economic environment, upward revisions of a 8.2% rise mark a big improvement on the 2.2% of Q4 22. TV spend is in growth alongside online and video with sales promotions, direct marketing and events also showing increases.
Despite the positive news, the report highlights the prevailing air of caution through the industry, as 66% of firms recorded no change in their spending plans, and 12% cut marketing budgets.
