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August 15, 2016
UK advertising expenditure is forecast to post 4.2% growth in 2016 and 3.8% growth in 2017, according to the latest Advertising Association/Warc Expenditure Report data.
The forecasts follow a strong showing for the UK ad market in Quarter 1 2016, with advertising expenditure rising 4.3% to reach £5,007 million, the first time spend has passed £5 billion in a first quarter.
Overall forecasts have been revised down slightly since April, driven by downgrades for news brands and direct mail, the UK’s third and fourth largest media channels. However, while economic uncertainty surrounding the UK’s vote to leave the EU is a factor, internet spend forecasts have been revised up 0.8 percentage points to 12.3% in 2016, with mobile advertising predicted to increase 39.3% in the same period.
Tim Lefroy, Chief Executive at the Advertising Association said: “These numbers suggest that, despite uncertainty, our sector is resilient. Government can underpin that by taking every step possible to build advertiser confidence, promote the UK as a global advertising hub and ensure we remain open to the world’s best advertising talent”. To read the press release in full and for a link to the report, click here.