After more than 35 years of operation, TBI is closing its doors and our website will no longer be updated daily. Thank you for all of your support.
VOD boosts UK TV revenues
TV advertising spend in the UK reached a new high of £5.3 billion (US$6.8 billion) in the UK last year, bolstered by a 12.6% growth in video-on-demand revenue.
This is according to figures released by advertising trade body the Advertising Association/WARC, which said that TV’s share of overall ad spend in the UK has held steady at 25% over the last decade.
The Expenditure Report said that total UK advertising spend grew 3.7% to reach £21.4 billion (US$27.5 billion) in 2016, the seventh consecutive year of market growth.
In Q4, total UK ad spend reached £5.8 billion, a rise of 3.9% year-on-year and the highest grossing quarter on record, according to the study.
Digital formats continued to drive growth last year, with internet ad spend up by 13.4% to £10.3 billion. Mobile spend reached £3.9 billion.
“In real terms, after accounting for inflation, UK ad spend topped its pre-recession peak for the first time during both the final quarter and for 2016 as a whole,” according to the report. “Forecasts for the next two years indicate continued growth of 2.5% in 2017 and 3.3% in 2018.”