2020 will see ad market in the UK grow by 5.3%.
Data from Advertising Association and WARC’s Expenditure Report states that UK ad spend grew by 4.2% year-on-year, bringing it to £6 billion in Q1 2019. The country’s ad market is forecasted to observe a 5.3% growth in 2020.
For 2019, a 4.6% annual increase in spends is expected, to hit £24.6 billion. The report revealed that online radio saw a 26.5% year-on-year growth in the quarter. In the same period, TV VOD grew by 17.5%.
Where digital OOH had a growth of 10.9% in the quarter, a more traditional ad format of cinema grew 12.3% in Q1 2019 as compared to Q1 2018. The report has forecasted the most growth “in digital ad formats for radio broadcasters and broadcast video-on-demand (BVOD)”.
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