Ebiquity chief says economic turmoil hasn’t hit marketing budgets just yet
The challenging macroeconomic backdrop has not yet cut into marketing budgets says Ebiquity chief Nick Waters.
Despite the ongoing conflict in Ukraine and inflationary pressures, Waters told Morning Wire that advertising remained “buoyant” in the first half of the year, with value for money and channel mixes becoming more important for companies moving forward.
The media investment firm said in its results this morning that revenue climbed 16 per cent to £37.2m during the last six months, while underlying operating profit swelled by 117 per cent to £5m.
Acquisitions in the USA and Europe during the period bolstered revenue by £2.8m and underlying operating profit of £0.9m
Waters explained that although 2023 was likely to be more “cloudy,” the overarching message to marketeers was to keep spending money.
“Marketing budgets are investments to be protected, not costs to be cut,” adding how crucial flexibility within budgets would be as we head into a recession.