UK media companies showing signs of confidence on the economy

A new report reveals that UK media companies are showing signs of confidence in the economy for the rest of the year.

According to the report by BDO Stoy Hayward, Nearly 30% of technology, media and telecoms companies surveyed said they were “slightly or more confident” about the media sector’s economic prospects facing the sector over the next quarter.

It also found that 38% were “as confident” as in the previous quarter, while 32% were “slightly less confident” or “much less confident”.

Julian Frost, BDO Stoy Hayward’s head of technology, media and telecoms, said: “Although confidence levels have declined, the fall has been less severe than might have been expected and companies now appear to be looking to the medium- and long-term future with a reasonable degree of optimism.”

Recent research from Econsultancy and Clash-Media showed that 53% of marketing budgets for UK, European and US companies have increased in the past year.

This extra budget is being used to fund high-return Online Lead Generation campaigns, the report found, with 61% of spend now made online, compared to 51% last year.

Elsewhere, the IPA Bellwether survey revealed that the rate of decline in UK marketing spend has eased for the second quarter in a row