UK ad spend spikes
UK advertising spend increased 3.8% year-on-year in the second quarter, exceeding earlier forecasts by 0.9 percentage points, with growth driven by the Jubilee and Euro 2012, as well as advertisers moving budgets forward for the Olympics, according to the latest Advertising Association/Warc Expenditure Report.
Cinema enjoyed the biggest Q2 spike with 23.9%, ahead of online (14.8%), radio (9.4%), TV (4.4%) and out-of-home, which got a pre-Olympics boost of 9.9%.
However, the challenging global economic outlook means advertising prospects for the rest of 2012 and 2013 are not as strong as previously anticipated, and ad spend is forecast to be worth £16.8 billion this year and £17.4 billion in 2013.
“The forecast for UK ad spend strengthens in 2013 as inflation subsides and real disposable income increases for the first time since the financial crisis,” says Suzy Young, data editor at Warc.