AA/WARC: UK ad spend reaches £19.6bn in H1 2024
Posted on Tuesday 05 November 2024
The latest Advertising Association / WARC Expenditure Report shows UK advertising recorded £10bn spend during the second quarter of 2024, marking a 13.4% increase
The latest figures from the Advertising Association and WARC show UK advertising spend increased 13.5% to £19.6bn in H1 – with a recorded £10bn spent during Q2 2024, up 13.4%.
The growth, fuelled by strong digital performance and lower comparative results from 2023, exceeded forecasts by over four percentage points. And with the first-half results in, AA/WARC has revised its 2024 forecast upward by 2.9 percentage points, now expecting total ad spend to exceed £40 billion for the first time to reach £40.5 billion. You can find out more here.
Speaking about the latest data, Stephen Woodford, Chief Executive of the Advertising Association, said: “The advertising industry is once again driving UK growth, helping businesses to compete, promote innovation and support jobs.
“It is an essential engine of the economy and key to the Government’s central ambition to achieve the highest sustained growth in the G7.”
The latest report notes that prospects for UK economic expansion have again been upgraded – from 0.6% to 1.1% this year – as inflation begins to ease on household budgets. UK advertising spend is currently expected to register annual growth ahead of key European markets, such as France (8.0%), Spain (5.7%), Italy (5.4%) and Germany (4.0%) in current prices.
|
Media |
Q2 2024 |
H1 2024 year-on-year % change |
FY 2024 forecast year-on-year % change |
Percentage point (pp) change in forecast vs July |
FY 2025 forecast year-on-year % change |
|
Search |
12.7% |
13.4% |
11.0% |
+0.9pp |
7.4% |
|
Online display* |
21.6% |
22.9% |
18.8% |
+10.0pp |
9.4% |
|
TV |
9.0% |
5.0% |
0.9% |
-3.0pp |
-0.2% |
|
of which BVOD |
14.2% |
16.8% |
12.1% |
-1.6pp |
10.3% |
|
Out of home |
17.0% |
16.7% |
12.0% |
-0.5pp |
7.2% |
|
of which digital |
20.7% |
21.6% |
15.0% |
-1.2pp |
8.2% |
|
Direct mail |
-2.1% |
-2.3% |
-2.9% |
+0.4pp |
-3.0% |
|
Online classified* |
-19.8% |
-17.7% |
-15.4% |
-16.6pp |
2.6% |
|
National newsbrands |
-3.5% |
-4.2% |
-4.0% |
-1.2pp |
-2.0% |
|
of which online |
5.0% |
1.2% |
1.3% |
+0.7pp |
0.2% |
|
Radio |
3.0% |
5.0% |
3.9% |
-1.6pp |
3.3% |
|
of which online |
14.8% |
3.6% |
6.3% |
+2.3pp |
5.9% |
|
Magazine brands |
0.5% |
-1.8% |
-3.7% |
-0.2pp |
-0.6% |
|
of which online |
6.0% |
1.6% |
0.3% |
+1.5pp |
1.6% |
|
Regional newsbrands |
1.9% |
-1.2% |
-2.0% |
+1.3pp |
1.1% |
|
of which online |
4.7% |
2.0% |
2.8% |
+3.1pp |
4.1% |
|
Cinema |
-21.2% |
-9.2% |
-2.1% |
-6.5pp |
2.4% |
|
TOTAL UK ADSPEND |
13.4% |
13.5% |
10.6% |
+2.9pp |
6.5% |
|
Note: Broadcaster VOD (BVOD), digital revenues for newsbrands, magazine brands, and radio broadcasters are also included within online display and classified totals, so care should be taken to avoid double counting. Online radio includes targeted in-stream radio/audio advertising sold by UK commercial radio companies, together with online S&P inventory. |
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