- 64% expect revenue to be up over the next twelve months
- 61% furloughed no staff and 81% who furloughed saying all or most will return
- 73% believe wages will increase or remain the same
London, UK: The digital media and marketing industry remains confident despite the pandemic’s impact, with 64% predicting revenue to increase over the next 12 months and 18% believing it will be up by more than 50%.
The findings, from research carried out by Bluestripe Group and New Digital Age, also found only a minor impact from the national furlough scheme, with 61% having not furloughed any staff and 81% who furloughed saying all or most will return.
Bluestripe Group and New Digital Age decided to take the pulse of the digital marketing and media industry to see what just over one hundred senior executives are predicting for the next twelve months. As the industry was preparing for the normally bumper final quarter of the year, we surveyed key decision makers and budget holders on what picture they were starting to see emerge.
What really stands out is the level of positivity, albeit signalled before the recent renewed restrictions. Executives expressed understandable concern over the threat of recession and a second wave of coronavirus infection.
However, despite these reasonable concerns, the industry is in an upbeat mood about the year ahead.
In addition to confidence in revenue growth, 68% expected staff levels to increase or remain the same and 73% believed wages will increase or remain the same.
The impact of the pandemic was clear in ushing in new ways of working. 82% said they expect staff to be in the office two to three days per week once offices were fully reopened. Only one in twenty (5%) expect to see staff back in for four or five days per week.
Andy Oakes, Managing Director of Bluestripe Group comments: “This industry has always been resilient and our findings back that up. I’m encouraged by the views that revenues will increase and that many believe that increase will be significant. That being said, it is still vital that the industry keeps communicating and keeps telling clients and the wider market about the great work it’s doing.”
Other findings included:
- 63% will be attending fewer conferences over the next year
- 83% will prioritise small events and roundtables
- 90% fear recession in the year ahead
- 56% fear both a second wave and the death of the cookie
- 57% believe the pandemic will make greater diversity harder to achieve because of increased difficulties in new talent entering the industry. Just over 40% also fear money will not now be available to finance diversity initiatives
A full copy of the report can be downloaded here.
Bluestripe Group and New Digital Age Q3 2020 Digital Advertising Industry Sentiment Tracker, featuring comment from Alexis Faulkner, Head of FAST, Mindshare; Jon Mew, IAB UK, Chief Executive; Peter Markey, CMO, TSB; Justin Taylor, MD, Teads; Ben Walmsley, Commercial Director, Publishing, News UK and Katy Howell, CEO, Immediate Future, is available to download at: www.bluestripegroup.co.uk/sentiment-tracker
We conducted quantitative research through a survey of senior executives in the digital media and marketing industry on New Digital Age, a publication owned by Bluestripe Group, during July and August 2020.
About Bluestripe Group and New Digital Age
Bluestripe Group is a diversified media business offering communications, content and media products for the media, advertising and technology industries. The company is disrupting the traditional communications model, bringing together the previously separate businesses of content, communications and media under one umbrella, leveraging the synergies inherent between those operations.