The report, which examines how marketing budgets are revised up or down since being set at the start of the year, found that only 11% of firms increased their media budgets in Q2, while 24% cut them.
All sectors of marketing saw budgets cut, with the exception of the internet, which had its smallest upward revision since 2002. Of respondents, 19% reported that their internet budgets were revised up in Q2, while 12% reported a decline.
Main media budgets saw the sharpest downgrades, particularly in TV, press, outdoor and cinema, with budgets dropping at the fastest rate since Q1 2006. The report also forecasts further cuts later in the year.
Chris Williamson, the report's author, said rising costs and weaker-than-expected sales are raising "the possibility that marketing spend could fall this year for the first time since the survey began in 2000".
Colin Grimshaw, page 21.
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