According to the latest Advertising Association/Warc Expenditure Report, advertising expenditure in the first half of this year soared to a record high of £9.42 billion in the UK, growing 5.8%. Advertising spend is predicted to break the £20bn barrier in 2016, with a 5.8% rise in 2015 and a 5.3% rise in 2016.
The UK recorded the highest spend on mobile advertising in Europe and the third highest globally, after the US and China. Last year, total advertising spend in the UK was £18.58 billion, with the internet accounting for £7.22 billion (38.9%), followed by TV on £4.91 billion (26.4%).
The first six months of 2015 saw the out-of-home medium grow by 2.3%, after growing by 9.7% in Q1, followed by a fall of 3.6% to £249 million in Q2. The strong growth in digital spend, driven by mobile, accounted for 79%, while TV grew by 7.1% for the first half of 2015. Internet spend also saw a notable increase, growing by 13.3% to reach £3.98 billion.
Tim Lefroy, Chief Executive at the Advertising Association, said:
Advertising’s resilience points to the strength of the broader economy in the first half. The UK leads the world in e-commerce and the trend to mobile means serving the public better – ads in the right place at the right time.