Ozone’s Client Services Director, Emma Cranston, comments on the latest marketing spend data.
Main media spend was at its highest growth levels since Q1 2022, the latest IPA Bellwether report shows, and further optimism is expected looking ahead.
IPA Bellwether Key findings:
Main media marketing, which includes online advertising activity and budgets for big-ticket campaigns on TV, recorded its strongest expansion in spending since Q1 2022 (net balance of +5.8%, from +4.4% last quarter).
The breakdown of main media marketing showed continued expansions in other online (+10.5%, from +6.3%) and video (+7.9%, from +13.7%), and a new upturn in audio (+1.7%, from 0.0%). Published brands (-1.9%, from -3.9%) and out of home (-12.4%, from -8.8%) were down.
Emma Cranston, Ozone’s Client Service Director said:
Given the tumultuous economic and societal conditions we have seen in the past three years, the latest Bellwether Report appears to point to a marketing industry in optimistic control of its future. The increase in main media advertising spend seems reflective of marketers’ taking a long-term view of their brands’ health, while a rise in sales promotions points to consumer help in the here and now. For the former, the continued growth of video (+7.9%) and online (+10.5%) reflects the positive trends Ozone has seen in the past quarter.
Looking forward to the second quarter, we’re expecting bumper interest in content around the King’s Coronation, a home-crowd Eurovision, and the lead up to major sporting events like the FIFA Women’s World Cup kick-starting in mid-July. Not only will these significant events deliver really engaged audiences, they also have the ability to truly shift the mood of the nation, and savvy brands are already aligned with them. We are hopeful the shift of seasons will lead to a further improved outlook – with the cost of living crisis dominating the winter, it’s great to have some reasons to be optimistic in the months ahead
Emma’s commentary was also included in The Drum’s analysis of the latest results.
