The UK ad market is forecast to have fared better than the rest of Europe last year after the industry was rocked by the Covid-19 pandemic, the latest Advertising Association/Warc adspend survey reveals.
The Expenditure Report, published today (Tuesday), is the latest industry forecast to significantly upgrade its growth estimates for 2020. It said the UK ad market shrank by 7.9% to £23.2bn last year, a 6.6 percentage point improvement on its forecast three months ago.
When comparing the UK with its European neighbours, its 7.7% decline (adjusted for purchasing power parity) is ahead of Germany, the next-biggest ad market, and the rest of Europe (excluding the UK). However, the UK suffered a larger fall than China, the US and Canada.
Estimates for 2020 spend were higher than in the previous AA/Warc report across nearly all media channels, with the exception of direct mail, out-of-home, news brands and magazine brands.
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