There were no changes in marketing budgets in the fourth quarter, with 16.4% of marketers reporting they plan to increase spend and 16.4% saying they plan to cut it, leading to a net balance of 0% and marking the end of six consecutive years of growth.
When looking ahead to the 2019/20 financial year, 27% of those surveyed anticipate growth compared to the 26% predicting cuts, giving a net balance of just 1%.
Additionally, the underlying pessimism is predicted to impact every media channel.
For instance, main media advertising was expected to fall in the fourth quarter, with a net balance of 6.5% expecting to cut budgets, compared to the 4.8% that anticipated increasing them in the previous quarter.
Internet, search and mobile budgets have also been affected. While they remain in growth, a net balance of just 2.1% of marketers saw rises in the fourth quarter, down from 13.6% in Q3 and 22.7% in Q2
Thanks to Marketing Week.