A new study shows that the advertising industry is well on the road to recovery and will experience growth this year.
The report, by the Advertising Association and Warc, predicts that after a modest growth level during the first quarter this year, the second quarter will experience a year-on-year growth level of 3.6 per cent.
The figures show that total UK ad spend fell by 12 per cent in 2009, while online advertising experienced an increase of six per cent during the same period.
Eva Berg-Winters, senior manager and new media specialist at PricewaterhouseCoopers, said: “Showing growth from quite a low level is not as big an achievement as showing growth show in say 2007, but I think we have seen the low point now and while recovery is still very shaky this year it will be easier than last year.”
According to the latest IPA/BDO Bellwether survey, marketing budgets were revised up in the first quarter this year, with 21 per cent of companies reporting a rise.