NEWS27 January 2017

Adspend holds strong after Brexit

Brexit News Trends UK

UK – Advertising spend increased 4.2% in the third quarter of 2016, despite fears the British vote to leave the EU would cause uncertainty.

Graph growth increase_Crop

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."