The digital media and marketing industry remains confident despite the pandemic’s impact, with 64% predicting revenue to increase over the next 12 months, with 18% believing it will be up by more than 50%, according to research from Bluestripe Group and New Digital Age.
The Digital Media Industry Sentiment Tracker research also found that 61% had furloughed no staff during the period and 81% who furloughed believed all or most will return.
As the industry was preparing for the normally bumper final quarter of the year, we surveyed key decision makers and budget holders on their view of the pandemic’s impact.
The digital media and marketing industry remains confident, 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.
Survey respondents did express concern over the threat of recession and a second wave of coronavirus infection. However, despite these reasonable concerns, the industry was positive 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.
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 and 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
The Digital Media Industry Sentiment Track report, 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 for free HERE.