The head of media at one of the world’s largest professional services companies believes there is a “new confidence” emerging from advertisers about local media.

KPMG’s David Elms, pictured left, made the assertion at a Westminster Media Forum event on local media last week.

They echo claims made by Sir Martin Sorrell last month, chief executive of advertising and PR company WPP.

Sir Martin told the Broadcasting Press Guild that printed newspapers were a “more effective” advertising medium than people gave them credit for.

In his speech, David said: “UK regional newspaper revenues have been in decline for a number of years but there is evidence that we may be approaching an inflection point.

“The overall rates of revenue decline have decelerated and operating profits have even started to grow.

“Last month Sir Martin Sorrell acknowledged that newspapers and magazines, even in their traditional form, are more effective than many people give them credit for.

“He said that research had found that traditional media can be more engaging and readers are likely to better retain information in print magazines and newspapers than online and mobile content. Now there’s a change.”

He concluded: “We’re in a very fast changing and increasingly complex local media environment. The future is undoubtedly challenging but it’s also full of opportunity. Businesses have left complacency behind, accepted the challenges and are adapting.”