The UK’s authoritative advertising statistics, released today by the Advertising Association/Warc, show that UK advertising expenditure posted 5.2% growth in H1 2016 despite economic uncertainty before the EU referendum. The growth rate was 0.4 percentage points ahead of forecast, with adspend reaching a record £9,999m in total for the first six months of the year.
Out of home (OOH) adspend increased almost four points ahead of forecast to £273m in Q2; +9.6% YOY. This was driven by 30.5% growth in the digital out of home market. Digital out of home accounted for over a third of total OOH adspend during the first half of the year, at £176m. Growth for total OOH is predicted to continue at 4.8% in 2016 and 2.4% in 2017
Tim Lefroy, Chief Executive at the Advertising Association said:
“Investment in UK advertising remains strong this year, and the trend towards digital and mobile continues – but the medium term is more complex. The Government should avoid any regulatory uncertainty that might affect advertising’s stimulus to the economy.”
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, rather than relying solely on estimated or modelled data. 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.
As seen on Pioneering OOH, By: Posterscope