UK TV ad revenues will increase at a healthy rate in 2014 with the soccer World Cup a key driver, according to new research.
The quarterly Advertising Association/Warc Expenditure Report says that UK ad spend increased 2.9% in 2013 and will register 5.5% growth this year. Advertising on on-demand services will, meanwhile, grow 21.2% as broadcaster’s catch-up services gain in popularity.
The growth will continue through 2015, according to the research, with core TV ad revenues tipped to increase 6% and on-demand by 31.3%.
2013 TV ad revenues were £4.6 billion and on-demand accounted for £126 million of the total.
Overall UK ad revenue increased 3.9% in 2013, taking the total to £17.8 billion. Across all sectors, advertising will increase 5.5% taking the total over £20 billion for the first time as the wider UK economy enjoys renewed growth.
By sector, advertising on mobile devices was a real growth driver in 2013, almost doubling revenues generated.
Tim Lefroy, chief executive at the Advertising Association said:” The forecast explosion in mobile advertising and digital formats points to UK advertising at the centre of a global revolution in consumer information, service and choice.”