GroupM’s report found that growth is being driven by digital advertising.
Advertising spend in the UK market is set to reach £21.8 billion this year. This growth is at the rate of 6.1% this year. Ad spend in the UK was £20.5 billion in 2018 with a 7.8% rate of increase.
The report found that digital advertising, 60% of total spend, is driving growth. Within digital, search is expected to grow at 11% in 2019. The report also notes that a trend of “marked deceleration” is beginning and will continue into 2020 with growth estimated to shrink to around 4.6%.
Television, comparable to 20% of all media investment, sees ad revenues of around £4.5 billion. Last December, GroupM had downgraded worldwide growth expectations to 3.6% for 2019 owing to declining optimism globally.
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