The IPA Bellwether Report has signalled that events budgets continued to grow in the first quarter of 2018, extending the current sequence of quarterly growth to four-and-a-half years.
Almost 24% of surveyed marketing executives indicated that events advertising budgets had been increased, compared to around 16% reporting a reduction. The overall net balance of +7.8% was the second highest of the Bellwether Report categories, beaten only by internet marketing budgets.
According to the report, further increases – albeit slight ones – in events budgets are expected across the 2018/19 financial year.
IPA director general Paul Bainsfair said: "Despite the slowdown, this quarter's results mark over five years of successive upward revisions to marketing budgets, signifying that regardless of external pressures - particularly Brexit uncertainties - most marketers still appreciate the value of advertising in building and maintaining their brands."
However, the overall picture for marketing budgets was somewhat gloomier with the slowest growth in budgets recorded since 2016.
From the IPA Bellwether Report
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