Ozone’s Commercial Trading Director, Jacque Chadwick comments on the latest marketing spend data.
With the latest IPA Bellwether Report predicting a rebound for advertising expenditure in 2022 and 2023, we look at what this could mean for the digital advertising industry.
IPA Bellwether Key findings:
Total marketing budgets expand further in fourth quarter as recovery continues
Emergence of Omicron variant, rising inflation and supply-chain disruption weigh on budget growth and business sentiment
Adspend growth forecast for 2022 subsequently lowered, but sharp increase still expected
022/23 marketing budgets set for big boost as firms plan to step up recovery efforts
Jacque Chadwick, Ozone’s Commercial Trading Director said:
“Despite the annoying arrival of the Omicron variant during Q4, there was a general sense that it - and the subsequent restrictions that affected festivities - had less impact on the digital advertising market than in previous periods. No doubt fuelled by marketers’ increased capability to deal with Covid curveballs, Ozone experienced relatively buoyant demand from brands looking to maximise the opportunity presented by the ‘golden quarter’. The consumer need to stay informed of the latest news cycles, colliding with the usual seasonal peak for entertaining and inspiring content, made premium digital environments the perfect place for campaign activation.
The indication of big boosts to marketing budgets over the next couple of years will be incredibly welcomed by the industry - although I reckon many in our sector have fared better than initially expected at the beginning of the pandemic. Considering this period has coincided with major events in digital advertising (think third-party cookie deprecation, privacy and transparency concerns), my thinking - led by client conversations - is that many have used this time to assess the how, where and why of their media investments. I believe the smart advertisers and agencies will be more focused than ever on ensuring their digital campaigns run in quality, effective and brand-safe channels - allowing that budget growth to translate to even better outcomes.”
Jacque’s commentary was also included in The Drum’s industry reactions to the latest results.
