Now Brexit slams ad spend
UK advertisers are reining in spending during the normally Christmas run-up period due to Brexit. ITV chief executive Carolyn McCall says an “increasingly uncertain economic environment” is leading to lower marketing spend on its TV channels.
The company warns that spending is set to decline by around 8% December.
“The warning from ITV that advertisers are likely to rein in their spend is an interesting one, considering the current overall advertising picture,” says Andrew Morsy, UK md at Sizmek. “The outcome of the UK’s exit from the EU might still be up in the air, but the advertising industry has remained robust throughout this time and has continued to flourish in the face of economic uncertainty.”
“The political uncertainty we’re currently facing shouldn’t be a reason for us all to rest on our laurels,” he reckons. “Consumers need inspiration and incentives to spend their hard earned cash: it’s the advertiser’s job to show them the content – across multiple sites and platforms – that will inform their buying choices.”