Forecasts from the Advertising Association/ Warc Expenditure Report expects advertising spending to grow later in the year despite the uncertainty around Brexit. Total UK adspend is expected to grow by 4.2% to £20.9bn this year, down for the April estimate of 5.5%. A growth forecast of 3.8% is predicted for 2017.
Even though the overall adspend is still expected the EU referendum had deepened the decline in certain sectors, with newspapers suffering the most. Spending on national newsbarnds is not expected to 10.1% to £1.1bn this year, compared to the previous estimate of a 5.9% drop. Among regional newspapers, it is a similar outlook with spending down 9.7% this year and 8.5% in 2017.
Adspend growth on TV has been revised to reflect the drop from 5.1% to 3.6% this year, totalling £5.2bn. On the other hand Internet adspend is predicted to be higher than expected to 12.3% to £9.7bn.