The AA-WARC Expenditure Report reveals that digital growth for national newsbrands is forecast to increase by 9.4% in 2019 and 7.2% in 2020.
Total UK advertising spend rose by 6.3% year on year, reaching £23.6bn in 2018. The results are the highest annual total since monitoring began in the 80s, signalling that despite uncertainties amongst the business community, the advertising industry continues to play a vital role in the UK economy.
Digital formats performed well across the board, demonstrating how advertisers are fully embracing digital platforms as a way to boost campaign effectiveness. For newsbrands, online advertising spend now accounts for over a quarter of total advertising revenue.
Stephen Woodford, chief executive of the Advertising Association, said: “These figures demonstrate, once again, the strength and resilience of the UK advertising industry during a time of political and economic uncertainty in the UK – they are a testament to the world-class capabilities of the third of a million people working in advertising and marketing services across the UK. With every pound spent on advertising generating six pounds of GDP, a strong advertising industry is a key pillar of a strong economy.”
Woodford concluded: “With further growth predicted for both 2019 and 2020, UK advertising looks set to deliver over a decade of continuous growth. Like all UK industries, we hope to see a positive resolution of the Brexit situation, with business-friendly data, immigration and trade outcomes that could further boost this forecast growth.”
This year, total UK advertising spend is forecasted to grow by 4.8% and next year, by 5.5%.
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Download the full report here.
