UK Expected to be First Country to Spend Over Half Ad Funds in Digital
According to an article recently completed by The Guardian, Group M, the worldwide media buying arm of the market services company WPP, has predicted that the total United Kingdom ad market will hit over fifteen and a half billion pounds in 2015. Within this market, online spending is forecasted to grow over twelve and a half percent year-over-year; this will result in breaking the eight billion pound mark. Specifically, if this figure is reached, the United Kingdom will be the first country in which more than one pound in every two spent in advertising will go towards digital media. The amount spent on digital advertisements will outweigh all over platforms combined, including money put towards newspapers, magazines, television, film, radio, and billboards, posters and buses.
Adam Smith, futures director at Group M, believes this increase is rooted in the British obsession with devices on online shopping. According to Smith, the British have proven to be the most enthusiastic online shoppers, in terms of amount spent per head. Specifically, there has been a steady increase in debit and credit spending online. In addition to this, Britons have rapidly embraced smartphone and tablet use, all of which has fueled where advertisers spend their money.
Within the general umbrella of digital advertising, Group M has several predictions on the different areas of digital advertising. Paid search advertising is expected to grow to just over four billion pounds; specifically, just shy of thirty percent of that is predicted to be on mobile devices. In addition to this, the fastest-growing part of the Internet market is display advertising. This facet of digital advertising is expected to surge twenty percent over the course of the next year to just shy of three billion pounds; specifically, it is forecasted that thirty nine percent of that spending will be placed towards mobile display advertising.
Alternatively, Group M is forecasting that more than one hundred sixty million pounds in print advertising will be lost from the United Kingdom newspaper market next year. Specifically, national newspaper advertising is predicted to decline over eight percent, to fall to nine hundred and eight million pounds next year.Share: