The latest Advertising Association/WARC Expenditure Report reported that UK’s ad market grew 6.1% in 2023, reaching a total of £36.6bn. The report forecasts a 5.8% rise in advertising spend this year, expecting the market to reach £38.8bn.
The highest growth was recorded in search and online display ads, which grew 11.9% and 11.3% respectively. OOH grew 9.7% to reach £1.3b.
Publishers saw a considerable decline in ad revenue with national newsbrands falling 6.3%, regional newsbrands falling 10.1% (7.6% online) and magazine brands falling 9.1% (13.7% online).
Further growth is expected for 2025. The AA/WARC forecasts an increase of 4.5%, which will lead to the UK’s ad market reaching a total of over £40bn. According to the report, the growth will mainly be driven by BVOD, search and online display ads.
