UK adspend rose 5.6% year-on-year to reach £5.97bn in Q3 2019, marking the UK advertising industry’s 25th consecutive quarter of market growth. The figures are contained within the Advertising Association/WARC Expenditure Report, which is unique in its collection of advertising spend data from across the entire media landscape.
The latest data reveal that growth in the third quarter of 2019 was 0.8 percentage points ahead of forecast. Looking ahead to the full-year figures for 2019, UK adspend is forecast to reach £24.8bn, meaning growth of 5.2%. This is expected to rise a further 5.2% in 2020 to reach £26.1bn.
Overall market growth is being driven by increased spend on online advertising, which saw percentage increases across every format. This was led by digital out of home which rose by 17.1%, TV broadcaster VOD which saw a rise of 16.7% and national online newsbrands which saw growth of 6.5%. The report also demonstrates particularly strong growth in Q3 2019 compared to the same quarter in 2018 in cinema advertising, which saw a very impressive rise of 46.5%.
The online figures reflect the Advertising Pays 7: UK Advertising’s Digital Revolution report from industry’s think tank, Credos. The report, which was published last year, revealed that Britain is the largest online advertising marketplace in Europe and that the country has the highest per capita online retail spend in the G20.