National news brands are forecast to grow by nearly 14% this year according to the latest Advertising Association/WARC Expenditure Report, with digital set to rise by 15%.
Recovery will begin to pick up as early as the first quarter of 2021 while quarter two is expected to accelerate to a 52% increase in adspend when compared to the same period in 2020 for national news brands.
Denise Turner, insight director, Newsworks commented: “For obvious reasons 2020 saw a seismic shift in ad expenditure trends, with most channels dealing with declines in demand, as the pandemic took hold. It’s great to see the forecasts bouncing back in 2021 and we are especially encouraged by the positive outlook for news brands, as more people turn to trusted news sources for the information, analysis and entertainment they can rely on, and relate to.”
Commenting on the industry’s adspend figures, Stephen Woodford, chief executive, Advertising Association said: “The latest figures from the AA/WARC Expenditure Report come as welcome news at the beginning of the year. Not only does the data show the overall decline expected in 2020 may be less than feared, but the recovery in 2021 will be stronger than we would have dared hope even a few months ago. With the vaccine rollout accelerating and a Brexit trade deal in place, the 2021 business outlook is brightening, reflected by these new forecasts showing a stronger and quicker recovery in adspend, with a stronger rebound than in other large economies. With every £1 of advertising spend generating £6 of GDP, this is good news for jobs and growth in the wider economy.”