Industry forecasts record cuts to budgets for so-called ‘golden’ quarter amid pandemic
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Advertisers are cutting more than £700m from their marketing budgets in the run-up to Christmas, as the pandemic puts paid to the big budget extravaganzas that normally bombard the public over the festive season.
While the annual Christmas advertising battle will be as fiercely fought as ever, with a total of £6.2bn spent across the fourth quarter, consumers are unlikely to see glitzy tie-ups such as Mariah Carey’s reportedly £9m deal to promote Walkers festive-themed crisps last year.
