The UK advertising market is relying on digital giants such as Google and Facebook for growth next year, as overall spending wanes on traditional media including TV and newspapers.
The amount spent by UK advertisers is forecast to break the £20bn mark for the first time next year, but the milestone is being passed due to continued high levels of digital advertising growth.
The amount spent on internet advertising will grow 8.6% next year to £12.8bn. The total UK ad market will rise 4.8% to £20.8bn, according to a report from the advertising media company GroupM.
“Digital is now around 60% of all advertising investment and accounts for all net UK advertising growth,” said Adam Smith, the futures director of GroupM. “Digital [is] commanding a rising share of overall marketing effort from a wider base of marketers large and small.”
GroupM said that overall spending on traditional media – including TV, newspapers and magazines, radio and outdoor sites such as advertising hoardings – will fall 0.7% next year.