UK advertising sector underpins 2018's adspend estimate
28 Jan 2019
The latest Advertising Association/WARC Expenditure Report data reveals the UK adspend reached £5.6bn in the third quarter of 2018, hitting the 21st consecutive quarter of market growth.
This record investment is confirmed in the latest Advertising Association/WARC Expenditure Report data, revealing the UK’s adspend hit a 21st consecutive quarter of market growth. Overall, the industry will have grown +6.0% year-on-year, with an estimated adspend of £23.5bn for the year of 2018.
As Stephen Woodford, Chief Executive at the Advertising Association said: “UK advertising continues to perform strongly, […] demonstrating the commitment of British advertisers to investing in the growth and success of their businesses”.
The figures also revealed an increasing spend on online advertising, which is expected to see a further growth of 9.8% in 2019. The positive story for digital was reflected across the board: digital radio ad formats recorded a rise of +25.1%, and VoD TV a +11.5% increase.
Predictions of 4.6% growth for UK advertising in 2019 strongly depends by a positive deal for business from Brexit negotiations. As Stephen Woodford explained: “As the clock ticks down to our departure from the EU, it is crucial the Government provides the certainty we are all seeking in business. […] UK advertising is the best in the world and we need a deal that ensures we keep it that way”.
You can find out more here.
Also, have a look at our latest guide to Brexit to learn what you need to do when planning for every eventuality.