Ad spend increasing, but growth slows
Advertising spend in the UK is set to reach £21.8 billion in 2019, up from £20.5 billion last year.
This is according to new figures from GroupM, which recorded a 6.1 per cent growth this year.
But that figure is lower than the 7.8 per cent expansion seen during 2018.
Growth in the sector is being driven by digital, with online channels now accounting for almost two thirds of all spend.
The digital market is set to expand further in 2019, with 11 per cent growth forecast. But the spend is very unevenly distributed, with the majority of all ad pounds going to Google and Facebook.
Television and radio are holding their own, with the former still accounting for around 20 per cent of the market and the latter set to grow slightly by around 2 per cent next year.
But the growth trend in overall advertising looks set to slow further in the coming years. GroupM expects expansion in the sector to fall to 4.6 per cent in 2020.