In 2019, UK advertising is projected to reach £21.8 billion, an increase of £1.3 billion. The latest forecast by GroupM on UK media shows growth to have slowed down to 6.1% from 7.8%.
The company predicts that the decline will continue to 2020, approaching a 5% decrease. This is thought to be partly due to Brexit planning and the ad budgets that were adjusted to respond to uncertain economic conditions.
According to the report, 60% of total advertising was from digital, and 50% of this was search.
Audio and video formats performed better than display.
TV continued to be stable, accounting for 20% of the total investments in media. Cuts by some companies were offset by investments by others.
OOH (Out-of-home) digital ad formats were found to be getting more popular, displaying a 50% increase in spend from 2018’s figures. 2019 and 2020 are expected to see a 3% growth, according to GroupM.
Radio will remain reasonably stagnant in 2019 and grow by 2% in 2020. Despite the problems with the verification of impressions, advertising on podcasts is becoming popular with advertisers.