Digital ad spend is to hit £15bn in 2019
Spending on digital advertising is set to grow to more than £15bn this year, a new report by Barclays has revealed.
The bank's corporate banking team predicts that marketers will spendmore on UK digital ads in 2019 than they did in 2018, despite Brexit.
The positive numbers come amid an ongoing focus towards digitalin the sector, with out-of-home (OHH) advertising highlighted as a key area for transformation after digital OOH surpassed traditional outdoor for the first time last year.
The bank believes that M&A activity will continue "at pace" in marketing services this year, with private equity firms maintaining their interest in the sector and restructuring at companies like WPP "presenting a range of opportunities" for the industry.
Sean Duffy, head of TMT at Barclays Corporate Banking, said: “It feels like adtech is slightly pushed to the sidelines, which is a mistake as it is transforming advertising and can be another real growth engine for the UK economy.
“Adtech is already helping UK businesses compete on the global stage and will continue to allow brands to market themselves more effectively as further technology advances are harnessed.”