Advertising Association data reports a growth of 18% over the previous year.
The double digit growth rate of ad exports exceeded the 7% growth of UK’s service exports as a whole. Part of the growth can be traced to a robust performance in the European market where the export value of ad services has tripled since 2009, totalling £3.8bn. This is equivalent to 55% of all exports.
Small and medium-sized rather than “giant” firms are driving this growth in the UK market, which could be a positive signal for future growth. While the data seems encouraging, the article warns that an unfavourable Brexit might derail progress.
Adam&EveDDB’s chief executive James Murphy noted, “As we approach Brexit, it is crucial that we champion our industry on the world stage and pursue bold policies”.
[2 minute read]