Advertising spend to pick up as economy recovers

| January 18, 2010 | 0 Comments
”Advertising

A report by the Institute of Practitioners in Advertising (IPA) and accountants BDO said advertisers continued to reduce their budgets in the fourth quarter of 2009, but the rate of decline was at its slowest in almost two years.

As they economy recovers, the report suggests that budgets will rise in 2010 and comes after a severe slump in advertising spending as a result of the recession.

The survey found that around 25% of companies cut their advertising budgets in the final quarter compared to 18% who increased their budgets.

The report said: “Companies were the most upbeat about the financial outlook for their industries since the question was first asked in the second quarter of 2005.”

“Thirty-five percent of panellists reported that they were more optimistic about the prospects for their industry compared to 22 percent that were less upbeat.”

Andy Viner, Head of Media, BDO LLP, said: “After nine consecutive quarters of reduced marketing spend, it appears that the rate of decline is at its slowest in nearly two years.”

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