WPP’s GroupM has produced its finish of yr forecasts for adspend in 2023 with the suprising discovering that the UK, hardly having fun with an financial growth, is ready to overhaul Japan because the third greatest advert market globally behind the US and China.
The UK is forecast to develop 4.6% (a downgrade from Group M’s earlier 5.3%), narrowly forward of Japan’s 4.4%, blamed on a weakening yen.
The US is forecast to develop by 5.7% with China, regardless of its personal financial issues, up 6.1%.
Digital nonetheless guidelines
In line with GroupM digital in all its guises accounts for over 80% of all UK advert expenditure (the best proportion in Europe) however progress is slowing in pure-play digital (hardly stunning give its dominance) to 7.7% in 2023 and 5.5% forecast for 2024.
Linear TV will proceed to battle whereas related (personalised) TV is rising strongly. Digital Out of dwelling can also be set to develop because the variety of digital screens nationwide will increase steadily. Retail media is the fastest-growing sector globally.
All UK Media
