Marketers are turning to Digital as a cost-effective method to reach their audiences.
The pandemic will cause the traditional media ad spending in the UK to fall by 22.6% in 2020, according to eMarketer estimates. This lack of spending will lead to a decline of 7.5% to £21.03 billion in the country’s media ad spend.
With advertisers turning to digital media to reach out to a captive audience, the medium grew marginally (0.3%). But, it was the only format that saw any growth and is expected to increase its share of the UK market to 71.7%.
The two mediums hardest hit by pandemic were Out-of-home (OOH) advertising (down 26.3%) and radio (down 22%). While Ad spending is expected to bounce back next year, it is unlikely to reach pre-pandemic levels.
[3 minute read]