UK ad spend enjoys 8th consecutive growth year
UK advertising expenditure grew 4.6 per cent to £22.2bn in 2017, the eighth consecutive year of market growth, according the Advertising Association/WARC Expenditure Report.
The final three months of 2017 saw expenditure grow 6.2 per cent over Q4 2016, with the £6.1bn total for adspend breaching the £6bn barrier for the first time ever in a single quarter.
The full year advertising growth forecast for 2018 has been upgraded by 1.4 percentage points to 4.2 per cent growth, and a further rise of 3.8 per cent is expected for 2019.
Digital formats performed grew across the board. Digital radio was up 26.3 per cent, with respective rises of 19.3 per cent for national digital newsbrands 7.1 per cent for broadcaster video-on-demand.
Ad spend growth continues to be driven by internet (up 14.3 per cent year on year), which includes digital revenues for newsbrands, magazine brands, TV and radio broadcasters. Within this, spend on mobile formats (+37.3 per cent) was particularly strong during 2017.
Stephen Woodford, chief executive of the AA, said: “The UK is a hub for the global ad industry and, with our expertise and creativity, I am hopeful we can continue this run of success into the future. This success, however, is also reliant on getting the right deal from Brexit for our industry and ensuring we have access to the best talent to ensure British advertising remains a global powerhouse.”
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 on estimated or modelled data.
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