Record Q1 prompts upwards forecast for UK ad-spend
July 30, 2015
Advertising Association/Warc figures show that UK advertising expenditure shrugged off European uncertainty to post 8.2 per cent growth in Q1 2015. Reaching £4.7 million (€6.6m) in total, UK advertising spend in the first quarter of the year was the highest on record.
Growth in traditional display advertising, including television, radio and outdoor, was particularly strong – TV spot advertising rose 11.5 per cent to reach £1.2 million for the quarter, with display advertising overall rising 8.5 per cent to reach £3.1 million. Mobile’s rapid rise also continued, with spend increasing 50.9 per cent for the quarter and passing over half a billion pounds.
The 8.2 per cent growth posted in Q1 was well ahead of the previous prediction of 6.2 per cent – and forecasts for full year 2015 have been revised up 0.6pp to 6.2 per cent.
Separate research from Warc’s International Ad Forecast shows UK adspend will rise faster than the largest European markets this year and next, and behind only India and China in a global context.
Tim Lefroy, Chief Executive at the Advertising Association said: “Despite uncertainty in Europe and at home prior to the election, these figures come as a welcome boost. Adspend is growing faster here than anywhere in Europe, to the benefit of our digital economy, creative industries and UK plc.”