UK ad spend rises by 5.6% as six years of growth continues
In the third quarter of 2019, UK ad spend rose by 5.6% year-over-year to £5.97 billion, according to the Advertising Association/WARC Expenditure Report.
Digital appears to have driven this growth, which marks the 25th consecutive quarter of expansion. While YoY growth continued, ad spend was in fact down marginally on Q2 2019.
Spend on digital OOH adverts rose by 17.1% during the quarter, while TV VOD increased by 16.7%, and search rose by 11.9%, pointing to the success of digital. On the other hand, spend on TV not on-demand fell 2.3%, and direct mail was down 4.5%.
The report predicts full-year growth of £24.8 billion in 2019, a 5.2% YoY increase. In 2020, the report's authors expect ad spend to eventually hit £26.1 billion.
Advertising Association CEO, Stephen Woodford, said: “These media spend figures are particularly impressive given this was a period of Brexit and political uncertainty and very low overall economic growth.
“As the Credos report on UK digital advertising showed, this is in part fuelled by the exceptional growth in SME spend in digital, as well as larger advertisers continuing to move budgets into digital formats in most media sectors.”