NEWS27 January 2017
UK – Advertising spend increased 4.2% in the third quarter of 2016, despite fears the British vote to leave the EU would cause uncertainty.
The ad growth, released by the Advertising Association and Warc, comes as new data from advertising think tank Credos and Deloitte showed that advertising contributed £120.4 billion to GDP in 2015. It also supports 550,000 jobs.
Credos questioned 200 ad business about Brexit and found a mixed picture. So while 22% said they had lost business or contracts since the vote and 62% thought it had negatively affected their business outlook, 23% said it was an opportunity for growth.
Stephen Woodford, CEO of the Advertising Association said: "Ad spend serves not just as an established bellwether for the wider economy, but as a driver of jobs and GDP growth, so negotiating the best possible terms for UK advertising should be a priority as government engineers our exit from the EU."