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Research: 7 in 10 UK advertisers exceed production budgets
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Advanced Television
Seven in 10 UK advertisers exceed production budgets at least sometimes, despite most believing they have good visibility into production costs, according to research from XR Extreme Reach.
Together, the findings suggest brands, agencies and production partners have an opportunity to improve ROI by connecting production decisions, budgets and creative performance more effectively.
While 77 per cent report increasing production budgets over the past year, 82 per cent say they are producing more content with the same or fewer internal resources.
The research suggests that budget overruns are often the product of disconnected information across planning, approvals, production, finance, assets and delivery.
XR recently launched XR ONE, an AI-powered advertising operations platform designed to connect every stage of the advertising creative lifecycle.