With the UK preparing to emerge from lockdown, Group M wants marketers not to “wait and see”.
Group M predicted the UK adspend would grow by 13% to a new high of £24.2 billion. TV advertising, in particular, would see a bottleneck effect in the second and third quarter of 2021 as advertisers release their deferred spend from previous quarters.
TV advertising is predicted to be up 11% from 2020 to £4.33 billion in 2021. The company also predicted internet adspend would remain high, with slightly higher growth than TV. Online adspend is expected to account for 69% of the UK’s total adspend this year.
Group M’s Brian Wieser said, “We suspect that many marketers are behaving defensively and waiting to see what others do before reacting.” Wieser added Group M strongly advises against that.
[2 minute read]