Ebiquity has predicted a “barely extra optimistic” outlook for the promoting trade in 2024 after surveying World Federation of Advertisers members.
Within the firm’s 2023 outcomes, chief government Nick Waters stated that “confidence” was “beginning to return”, including that in 2023, “market situations have been way more difficult”.
He stated: “It has been a troublesome interval for the promoting trade with many international model house owners planning for the brief time period somewhat than the long run and, in some circumstances, reducing budgets or deferring work on account of prevailing market situations and developments.”
However he added: “The outlook for the promoting trade seems barely extra optimistic for 2024 with our personal survey of WFA members, in addition to different unbiased research, indicating some confidence beginning to return.”
Within the firm’s H1 report final yr, Ebiquity stated the market was “threat averse with many international model house owners planning for the brief time period somewhat than the long run”.
Within the newest outcomes, Rob Woodward, chair of Ebiquity, doubled down on Waters’ claims and added there are “indicators that the promoting market is enhancing”.
Regardless of a troublesome market in 2023, Ebiquity’s income elevated by 6.8% yr on yr, from £75.1 million ($93.7 million) to £80.2 million ($100 million).
Ebiquity’s US enterprise was the “star performer” in 2023, however the report additionally famous that the UK and Eire “confirmed a resilient efficiency within the home market”, whereas purchasers throughout the remainder of Europe lowered “scope and charges” in This fall as their very own companies got here beneath strain.
Within the UK and Eire, income jumped by 19%. The area trailed behind North America, the place income elevated by 33%.
Continental Europe and APAC each skilled decreased income, with the previous dropping by 11% and the latter by 10%.