‘Excellent news for anyone working in PR, advertising or the media sectors’ is how PRCA director general Francis Ingham summed up Q3 2020 UK ad spend figures published by the Advertising Association today.
The latest Advertising Association/WARC Expenditure Report predicts that the UK’s ad market is likely to grow by 15.2% this year, with positive prospects for online platforms as well as double digit growth for the majority of media sectors.
Encouraging figures from the dataset, which includes those for Q3 2020 and predictions for the coming eight quarters, show that UK adspend showed better-than-expected internet growth, improving on its forecast of -17.9% made in October 2020. Internet spend also rose 10.1% to £4.2bn during the quarter, bolstered by a 14.5% rise in search spend.
‘PR and advertising operate within the same ecosystem and often run in parallel with one another, so I am very encouraged by the data published by the Advertising Association today,’ said Francis Ingham. ‘I’ve no doubt that 2021 will be the year our industry returns to growth and profitability.’
Read more reaction from the PRCA on the latest figures from the Advertising Association here on the website.