UK advertising spend rose 3.5% year-on-year in Q3 2017 to reach £5.4 billion, marking the 17th consecutive quarter of market growth, according to Advertising Association/WARC Expenditure Report data.
The research said that mobile ad spend rose 30.7% year-on-year, buoyed by a 44.7% rise in social media advertising. Internet ad spend was up 9.9% year-on-year, inclusive of digital revenues for news brands, magazine brands, TV and radio broadcasters.
“UK advertising spend enjoyed a record high in the third quarter of 2017, with figures up again year-on-year,” said Stephen Woodford, chief executive at the Advertising Association.
“It is encouraging to see further predicted growth of 2.8% for 2018. UK advertising is vital for the economy, generating £6 for every £1 spent and we know from the work of Credos, advertising’s think tank, that advertising is the engine of growth for UK business.”
The report’s preliminary figures indicate that full year 2017 ad spend grew to £22.1bn – representing the eighth consecutive year of market growth.