Financial services ad spend slumps as crisis deepens

The ad industry is expecting a further dramatic fall in financial services spending, on top of the 13% already seen this year, as the economic crisis deepens.

New financial regulation is also likely to be introduced, to tighten up some of the higher-risk lending advertising – a mainstay of daytime and digital TV spend.

The contraction follows a further round of consolidation and nationalisation, with Santander buying the struggling Alliance & Leicester and the savings business from Bradford & Bingley. B&B’s mortgage book has been nationalised, as the whole of Northern Rock was earlier this year.

Lloyds TSB last month announced it was acquiring the struggling HBOS, in a move which is expected to see the combined media spend reduced. It is thought that both Fortis and Morgan Stanley have slashed their marketing budgets and axed much of the media activity planned in the coming months.

Viacom Brand Solutions managing director Nick Bampton says: “Finance has already been hit with a 13% decline in ad spend this year. Further declines are likely, with the nationalisation, mergers and forced sales of banks and building societies creating synergies which will undoubtedly save money on advertising.”

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here