SVP International, Jason Megson Reacts to IPA Bellwether

In recent articles for Campaign and The Drum, Sparks SVP International Jason Megson and other industry leaders address the uncertainty regarding marketing budgets in the UK, as the new Institute of Practitioners in Advertising (IPA) Bellwether Report reported a freeze in marketing budgets for Q3.

This was surprising to UK marketers, as most sectors—including PR, events, direct marketing, and main media—have remained resilient, delivering impressive net-positive results. However, some categories, including out-of-home, audio, and publishing brands, declined, potentially contributing to the freeze.

Despite lingering anxiety, marketing experts predict "sunnier" times ahead, like Megson, who attributes the growth in PR and events to brands’ success with audience engagement. This is something the experiential industry can take comfort in, as he tells The Drum, “the value of in-person interactions means events and experiences are proving resilient.”

Face-to–face experiences are critical for successful interactions with audiences. “Brands that invest in real-world experiences and earned media are more likely to navigate rough seas and emerge stronger,” Megson writes for Campaign. He also celebrates the event sector for its continuous growth in Q3 2024, as “strategic channels that offer direct consumer engagement and can drive long-term brand equity.”