AA/Warc: UK adspend grows at fastest rate since 2010
Data released today by the Advertising Association/Warc shows UK advertising spend grew at its fastest rate for three years in Q2 2014, with growth of 8.5% year on year (YoY) reaching £4,515 billion.
Across the first half of 2014, total UK adspend rose by 6.3% YoY, leading to an upwards revision to the full year forecast to 6.4% (up 0.4 percentage points from July's forecast) and 6.5% for 2015 (down 0.2 percentage points from July's forecast).
Q2 performance was boosted by double-digit growth for TV, radio and internet and coincided with GfK's UK Consumer Confidence Index moving back into positive territory at the end of June. Having declined for 21 of the previous 23 quarters, recruitment advertising has now registered three consecutive quarters of growth and was up 5.8% YOY for Q2 2014.
Tim Lefroy, chief executive at the Advertising Association said: "Growth at twice the rate of UK GDP is quite a headline, but the real story is of digital and creative leadership in e-commerce. As the Eurozone wobbles, it's a reminder that our consumer economy is central to the UK's economic narrative."
The Advertising Association/Warc Expenditure Report is the definitive measure of advertising activity in the UK. It is the only source that uses advertising expenditure gathered from across the entire media landscape. With total market and individual media data available quarterly from 1982, it is the most reliable picture of the industry and is widely used by advertisers, agencies, media owners and analysts.
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