Q4 2025 Bellwether Report

The Bellwether Report is researched and published by S&P Global on behalf of the Institute of Practitioners in Advertising. The report features original data drawn from a panel of around 300 UK marketing professionals and provides a key indicator of the health of the economy. The survey panel has been carefully selected to represent all key business sectors, drawn primarily from the nation’s top 1000 companies.

Key findings from the Q4 2025 IPA Bellwether Report:

• Total overall marketing budgets record no change in the final quarter of 2025
• Upward revisions to budgets were only recorded in Events and PR categories, and in ‘Other online’ as a sub-component of the main media category.
• Marketing budgets set for shallow expansion in 2026/27 financial year, preliminary data shows, but uncertainty remains

Commenting on the latest survey, IPA Director General Paul Bainsfair said:

“This quarter’s flatlining of marketing spend reflects a wider confidence problem. Global instability continues to unsettle markets, while domestically, there appears to be limited faith in the Government’s grip on the economy. Until that changes, caution is understandable.

“What we can say with confidence, however, is that those organisations which continue to invest in advertising, especially in a quieter market, stand to gain greater visibility and, over time, increased market share. This is most effective when investment is sustained and focused on long-term brand-building channels.”