IPA BELLWETHER REPORT Q1 2022: JEREMY REACTS

UK marketing budgets grew at their strongest rates since 2014 in the first quarter of this year, thanks to increasing confidence on the back of pandemic-related restrictions being lifted, according to the latest IPA Bellwether Report.

New Digital Age asked Jeremy Hine, CEO of MullenLowe Group UK, for his views on the report. See other industry reactions here.

“The cost of living is rising rapidly and we’re living in less stable times than we’ve seen in decades. It’s no surprise, then, that the forecasts for the industry are cautious, at best. Despite this, the fact that marketing budgets are predicted to hit an eight-year high, and the general sense of optimism from Adland, show the resilience of the people in our industry. Adland has its own set of challenges, but it’s through empathy and collaboration that we can create a strong, supportive industry. Above all, it is imperative that we work together and help each other in what will undoubtedly be stormy waters over the coming 18 months as we look to rebuild Adland to its strong, pre-pandemic position, and reverse the pessimism that is beginning to take hold in our industry.

“The expansion of media budgets – above all in online and video advertising – is a real sign of optimism for brands who are looking to push their reach beyond the more traditional communications formats. It also demonstrates the need for those in the ad industry to embrace the full integration of the entire spectrum of marketing communications agencies under one umbrella. It’s no longer sufficient to focus on bombastic, out-of-home campaigns, or beautiful, heart-wrenching TV spots, when media and other, less traditional formats, are king. This report confirms the industry’s strong ambition to keep up with audiences who are increasingly looking to spend their time online. Above all, this shift offers a strong opportunity for creatives to transform their thinking and spread their focus to encompass the entire media landscape.”