UK – The latest spending report from the Advertising Association/WARC predicts UK advertising spending will grow by 24.8% this year to a total of £29.3 billion.
The latest spending report from the Advertising Association/WARC predicts UK advertising spend will grow by 24.8% this year to a total of £29.3 billion.
This latest report beats the July projection (+18.2%) by 6.6 percentage points, making it the largest annual increase on record. Total investment for Q4 2021 – the important Christmas advertising season – is expected to be £7.9bn, again the highest level on record.
The latest dataset also includes revised projections for 2022 showing a 7.7% year-on-year increase to over £31.5bn. Media channels expected to experience significant recovery following the Covid-19 pandemic include cinema (+123.2%) and outdoor advertising (+27.7%), while growth in search, which includes e-commerce spending, should continue to rise (+11.4%).
These figures, along with ancillary forecasts from WARC, suggest the UK is still on track to deliver the fastest recovery in advertising trade of any major European market this year, rebounding from the 1.8 drop. billion in UK advertising in 2020.
Total investment is expected to be £7.9bn in Q4 2021, the highest level ever over the Christmas period and almost £1bn more than last year ( £929 million). Search advertising is expected to be one of the fastest growing mediums in Q4 2021, rising 15.3% to £2,715m, supported by online shopping habits. consumer line.
In addition, TV ad spend is set to see its biggest increase in the fourth quarter for over a decade, rising 9.0% to £1,564m, with broadcasters’ video on demand growing by a quarter (24.1%).
Commenting on the figures, Stephen Woodford, chief executive of the Advertising Association, said: “The UK advertising industry’s recovery is getting better and better, following the brutal shock of the pandemic. Advertising spend is expected to rise by 24.8% to a record £29.3bn, proving advertising’s role as a vital engine of growth for the UK economy, particularly during the next Christmas time. The strong online performance forecast is further evidence of the UK’s position as the world’s most digitally advanced advertising market and the largest in Europe.