UK adspend grew 4.6% to reach £22.2bn in 2017, the eighth consecutive year of growth, according to the latest Advertising Association/WARC Expenditure Report. Here, media bosses from Starcom, Spark Foundry, Total Media and the7stars digest the findings.
Mark Holden, Starcom, Global Strategy Director
It’s a testament to the strength of the advertising industry, and to the value of advertising to growing businesses, that adspend continues to grow in the UK despite recent headwinds – the uncertainties of Brexit negotiations, a challenging high street retail climate and inflationary pressures on discretionary spending.
It is also a reflection on how the sector has evolved over the past decade. Driven principally, but not exclusively, by digital platforms, the barriers to entry for advertisers of all sizes and shapes has come down.
The combination of self-serve ad platforms, shared-risk advertising models for new advertisers, new solutions like AdSmart that bring traditionally expensive forms of advertising to niche or local brands, and the blurring of trade activation budgets into e-commerce advertising, has helped to open up the sector to new sources of revenue that have had the net effect of sustaining a healthy and vibrant sector in the UK.
View additional report commentary in Mediatel, here.