The growth of online advertising has been enabled by the market’s strong online economy.
The Advertising Pays report by Credos and Enders Analysis found that by 2020, online advertising would account for 62% of the market’s ad spends. Last year, UK’s online advertising was 57% of its total advertising spend worth £23.6 billion.
Relative to the size of the economy, UK’s online expenditure currently stands highest in the world at 0.63% of GDP. The report states that UK’s strong online economy has powered the growth of online advertising.
The report also found that small and medium-sized businesses, in particular, are advertising more going from 30% in 2013 to 42% in 2017. It adds that online ad expenditure and internet retail expenditure has trebled since 2010 in the UK.
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