The IPA's Q2 2026 Bellwether Report paints a picture of an industry choosing conviction over caution. Despite a tense geopolitical backdrop, marketing budgets posted a net balance of +6.9%, the second-highest reading in two years. Events once again led the charge, while video advertising climbed to a seven-quarter high, signalling a renewed appetite for brand-building over short-term activation.

Yet the resilience isn't unconditional. The message is nuanced: marketers are still investing, but they're doing so without confidence in what comes next. The gap between spend and sentiment is where the real story of this quarter lives.

We spoke to a panel of experts to get their reactions to the report…

"Today's marketers are under more pressure than ever…"

The latest IPA Bellwether Report reinforces the positive message that brands are continuing to invest despite ongoing economic uncertainty, and video remains one of the biggest beneficiaries of that confidence.

Today's marketers are under more pressure than ever to demonstrate effectiveness, meaning conversations are shifting from cost efficiency to outcome efficiency.

The continued decline in published brands highlights the challenges facing the open web. Publishers that can demonstrate high-quality environments, capture attention, and deliver measurable outcomes will be well placed to differentiate themselves.

The findings around AI are equally telling. AI shouldn't be viewed as a replacement for human creativity, but as a tool to enhance it. The brands that will win are those that combine AI-driven efficiency with human judgement, contextual relevance, and compelling creative to build stronger consumer connections and deliver measurable business growth.

Jess Aylett, Head of Sales UK & International, GumGum

"The winners will be those who use this agentic technology across their whole media plan."

In the face of escalating geopolitical pressures and a dip in corporate financial confidence, the UK marketing industry is refusing to retreat. Maintaining upward budget growth during such a volatile quarter shows that, rather than panicking, the industry is doubling down. In particular, they’re investing in high-impact, brand-building formats like video, which has rightfully surged to a seven-quarter high of +8.2%. It’s a clear sign that playing the long game – crafting a strong consumer connection – is the priority.

As pointed out by the respondents, the real game-changer here is AI. This includes advanced, LLM-capable tools that can automate complex media workflows and trading tasks. Instead of replacing human talent, this technology is liberating them from manual optimisation and freeing up agencies and brand teams to focus on the creative work that stands out.

What’s more, these agentic solutions can help marketers embrace the full potential of omnichannel. Where OOH and audio have lacked investment, they can now be seamlessly paired with other formats. In a challenging economic climate, the winners will be those who use this agentic technology across their whole media plan, and deliver engaging and measurable campaigns to consumers, no matter the touchpoint.

Philip Acton, Country Manager UK, Adform

"The aging programmatic infrastructure is cracking…"

The latest IPA Bellwether report reveals a glaring disconnect: UK business confidence has tanked amidst inflation and political volatility, yet marketing budgets are rising. Are we witnessing a strategic course correction where brands are finally ditching short-termism or questioning the "easy button" of closed ecosystems and tech giants for higher impact marketing and long-term brand building?

It is great to see video spend is up 8.2%, and that audio has halted its freefall. However, as budgets flood into premium channels like CTV, the aging programmatic infrastructure is cracking. The buying stack sits far too removed from the supply source, burdened by an opaque chain and "invisible taxes" that actively erode reach and efficiency.

The winners in 2026 will be the ones who refuse to get bogged down in legacy limitations and instead prioritise better multi-dimensional campaigns with audience engagement and quality creative at the centre. When combined with transparent, efficient paths for audience impact, that is where the industry's true optimism lies.

Austin Scott, Chief Commercial Officer, Bedrock

"The strongest brands will be those that balance immediate performance with long-term investment."

The Q2 2026 Bellwether Report sends a clear message to marketers navigating economic uncertainty: short-term activation alone will not build lasting resilience. With video investment reaching its highest level in almost two years, marketers should rebalance budgets toward high-impact storytelling that strengthens brand equity and creates sustained customer value.

At the same time, AI can help teams reduce operational friction, improve productivity, and scale execution, freeing marketers to focus more on strategy, creativity, and differentiation. In a volatile climate, the strongest brands will be those that balance immediate performance with long-term investment. True marketing resilience comes from building predictable brand value that can endure changing market conditions, rather than reacting to every short-term shift.

Yael Schuster, VP of Marketing, Assertive Yield

"I wouldn't break out the champagne just yet…"

This is a cautiously optimistic Bellwether for PR as a whole, but I wouldn't break out the champagne just yet. Speaking to many peers across the market, it’s clear the delays and hesitancy to commit during the start of this year were a common theme, and that backdrop remains. 

However, it's very promising to see marketing director backing for PR given the multifunctional ways our discipline can meet their objectives and we move into what looks like a much busier and brighter H2 for 2026.

Stephen Jenkins, MD and Founder, Too Many Dreams

"Sustainable growth should also sustain people, careers and communities…"

Mind the gap.

A positive IPA Bellwether Report should be good news for everyone in our industry. Rising marketing budgets used to signal greater job security, new jobs, and broader opportunity, alongside growth for businesses and shareholders.

But today, growth is not always distributed evenly, and I think we need to pay much more attention to the gap between revenue growth and headcount.

For me, the purpose of business cannot be measured only in revenue, efficiency, and shareholder returns. Sustainable growth should also sustain people, careers and communities.

So, while this Bellwether report is rightly welcomed, we should ask a harder question: who is benefiting from the growth? 

Unless we address the widening gaps between investment and employment, between walled gardens and the open web, and between human and artificial intelligence, today’s cracks risk becoming tomorrow’s chasms.

Mike Nicholson, CEO, Six Sells

"When money moves this decisively, the winners are those who can prove where every impression, and every pound - actually goes."

The headline +6.9% is solid, but for us the real story is the reshuffle within main media. Video was the only sub-segment to grow, reaching a seven-quarter high of +8.2%, while other online spend was cut for the first time in seven quarters. Out of home posted its third-strongest reading in the survey's history. With confidence under pressure, advertisers are consolidating into channels that combine brand-building reach with measurability and CTV and DOOH are the clear beneficiaries.

That shift raises the bar on the supply side. Buyers moving budget into programmatic video and digital screens will expect transparency on where every pound goes and how every auction is decided. Publishers and screen operators whose monetisation stacks can't answer those questions risk watching this spend flow past them. When money moves this decisively, the winners are those who can prove where every impression, and every pound - actually goes.

Kieran Greene, Founder and CEO, Shinka

"The drop in financial confidence matters…"

It's very encouraging to see businesses continuing to back advertising despite a tougher economic backdrop. The rise in core media investment signals that long-term brand building cannot simply be switched on and off as market conditions change.

But the drop in financial confidence matters, particularly as businesses plan for H2. Advertising investment is still expected to grow despite a subdued economic outlook, but budgets only create value when companies have the financial capacity to act on them. As we move into Q3 and Q4, those with the flexibility and liquidity to deploy capital quickly will be best placed to turn this investment into growth. 

Christopher Pettit, CEO, Revving

"As investment continues to grow, the challenge for brands isn't just where they advertise…"

The continued confidence in video reflects a much bigger shift in how people consume media. Whether it's YouTube or connected TV, audiences expect engaging, relevant experiences rather than simply more advertising. As investment continues to grow, the challenge for brands isn't just where they advertise, but whether their message fits the content and mindset of the viewer. 

That's where AI can make a real difference, helping advertisers move beyond broad targeting through large-scale data sets and digital twins (synthetic consumer replicas) to understand which environments their creative will genuinely resonate in. As more budgets move into video, getting that match right will become an increasingly important competitive advantage.

Ben Dimond, Managing Director UK, Parallel

"Authentic voices from trusted communities become even more valuable."

The Bellwether findings reinforce something many marketers are already experiencing: AI is making it easier than ever to create content, but much harder to produce trustworthy creative. As more generic, AI-generated material floods the internet, authentic voices from trusted communities become even more valuable. 

That's particularly important as consumers increasingly discover brands through AI-powered search, where large language models draw heavily on credible publisher, affiliate, and creator content. Brands that invest in long-term partnerships within trusted communities will be far better placed to build visibility, credibility, and influence in the answer economy than those relying on AI-generated content alone.

Anthony Clements, Country Manager, impact.com

"There's increasing appetite to relax the purse strings…"

It feels we've been living in a period of geopolitical uncertainty for some time now, and this report indicates that marketers recognise that postponing is no longer an option. Instead, there's increasing appetite to relax the purse strings and get things moving again. 

While the stop-start nature of the Middle East conflict continues, we're certainly seeing similar trends emerge in the region, with campaigns starting to be plotted in for September and beyond. This is an exciting region for digital marketing In particular and one rife with both local and international brand potential - it's a strong sign for budgets not just to be increased within the UK but also across the Middle East states as we get closer to the end of the year.

Tanya Field, Co-founder & CPO, Novatiq

"Modern boards understand the power of strong customer connection…"

Most striking in this Bellwether is a long overlooked recognition of marketing as a potential answer to wider business uncertainties. It suggests that modern boards understand the power of strong customer connections in overcoming more widespread and long-lasting frustrations with continued economic uncertainties. 

The rise of video as a trusted and powerful method of forging and maintaining these connections comes as no surprise to me, as we move into what is shaping up to be a much busier and faster-paced H2 2026. It reflects the appetite we are seeing from brands and agencies to explore more visually compelling and highly efficient strategies.

Christian Gladwell, Senior Director of Strategy & Partnerships, Sabio