UK adspend to hit £20bn for first time in 2015
UK advertising spend is predicted to continue its upward curve and top £20 billion for the first time in 2015, according to annual figures released by the Advertising Association and Warc.
Tim Lefroy: chief executive of the Advertising Association
The figures predict adspend will rise by 5.5 per cent this year and a further 6.5 per cent in 2015.
The forecast is the latest from the Advertising Association/Warc Expenditure Report.
It states that UK adspend reached £17.9 billion in 2013, up 3.9 per cent on the previous year, with mobile advertising climbing by 95 per cent and broadcast and video on demand by 21 per cent. Digital offerings from newspapers also registered a 19.5 per cent climb in ad spend in 2013.
Tim Lefroy, chief executive at the Advertising Association, said: "The forecast explosion in mobile advertising and digital formats points to UK advertising at the centre of a global revolution in consumer information, service and choice."
Total display advertising also turned around in the second half of last year, experiencing a five per cent lift, its best performance since 2010.
The predicted upturn follows on from the latest figures this month from the IPA Bellwether Report, where a net balance of 11.7 per cent of companies said they had increased their main media budgets in the first quarter of 2014.
Mobile is expected to account for a quarter of search spend by the end of 2014, rising to a third by 2015. Desktop search will be relatively flat over the same period as a result, according to the figures.
Traditional desktop search has grown consistently since 2009, but in 2013, growth started to slow, from 18 per cent in the first half, to nine per cent in the second half of last year, as focus switched from desktop to mobile.
Spend on recruitment advertising enjoyed a better year, rising by almost four per cent in the fourth quarter.
According to the report, as the economy and job market improves, investment in recruitment advertising is expected to grow just one per cent this year, but by more than 3 per cent in 2015.
This article was first published on campaignlive.co.uk
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