New UK advertising forecasts are predicting growth of 5.5% in 2014 and 6.5% in 2015, taking UK ad spend past £20bn for the first time in 2015. The forecast, from the latest Advertising Association/Warc Expenditure Report, reflects upbeat reports on the UK economy from both the IMF and the recent IPA Bellwether.
UK adspend reached £17,877m in 2013, up 3.9% on the previous year with mobile advertising (+95%), broadcast video on demand (+21%) and digital national newsbrands (+19.5%) all experiencing strong growth.
“Another set of positive indicators to support the growth story – every pound spent on advertising returns six to GDP,” says Tim Lefroy, Chief Executive at the Advertising Association. “The forecast explosion in mobile advertising and digital formats points to UK advertising at the centre of a global revolution in consumer information, service and choice.”
The Advertising Association/Warc Expenditure Report is the definitive measure of advertising activity in the UK. It is the only source that uses advertising expenditure gathered from across the entire media landscape, rather than relying solely on estimated or modelled data. With total market and individual media data available quarterly from 1982, it is the most reliable picture of the industry and is widely used by advertisers, agencies, media owners and analysts.
Posted by George Silva