Industry reacts to AA/WARC's downgraded adspend forecasts
According to the latest Advertising Association/WARC Expenditure Report, the UK ad market is now not expected to recover fully until 2022. Our Federica Bowman comments on the findings.
"The latest AA/WARC report shows a significant change in media investment across different channels from one year to the next. Advertisers have had to react quickly to mitigate the risks of the changing situation, but they're now preparing for a more measured approach to 2021.
The pandemic may have had implications on agencies' abilities to service their clients, particularly if client-based income has fallen, and their commercial deals with vendors could have been affected by the inconsistency of media spend year on year.
Heading into 2021, advertisers should ensure that they have a strong understanding of how these fluctuations could impact their agency partners' ability to meet their contractual obligations and ensure they have the appropriate governance in place to monitor."
To read the article in full in Mediatel, click here.
First featured 29/10/2020.