GroupM recently released the latest iteration of their annual end-of-year forecast report, taking a good look at things like King Kong digital agency review and other advertising endeavours to see how the UK’s advertising industry is faring.
The UK advertising industry saw a drop, with 2020 dropping -4.4% from 2019, which grew 8.6% from 2018. This drop is the largest variance recorded and the largest drop in the industry within the decade. They noted, however, that a properly-handled Brexit and a good rollout of a vaccine would counteract this drop, resulting in a forecasted 12.4% growth.
The group’s data also shows that way the ad industry has grown isn’t evenly distributed, with London’s R2 sitting at 0.57, way higher than the national average of 0.50. The weakest region was Northeastern UK, covering the cities of Durham, Newcastle, and Sunderland.
As for specific categories, total pure-play internet accounted for the majority of ad money with a 68.5% share. Total TV is a distant second with an 18.2% share, followed by national news brands at 5.2%, outdoor at 3.2%, and radio and consumer magazines, both at 2.2%. Cinema lamented at last place, accounting for a measly 0.5% share.
As for digital advertising, with its many a King Kong digital agency review and the like, GroupM noted that, while it’s cleared that small businesses have been embracing digital ads, the extent to which they have done so is not entirely clear. However, Q3 2020 financial results from Google and Facebook, both of whom favour small business advertisers, noted that small business advertising was making a comeback.