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Yesterday we published the latest Advertising Association/WARC Expenditure Report for Q4/FY 2020. In positive news, the report forecasts that UK adspend will grow by 15.2% this year to reach a total of £27bn. This will recover the entirety of 2020’s £1.8bn decline and is expected to precede a 7.2% rise in 2022, by when the market will be worth a record £29bn!
The data in the report suggest that UK is on course to achieve the strongest ad trade recovery of any major global market this year, and this puts the UK economy in a position to bounce back strongly post-pandemic, as every pound invested in advertising generates six in GDP.
Our Chief Executive, Stephen Woodford, commented: “Across the economy that advertising serves we saw remarkable innovation and agility, which helped to lessen the economic impact as firms adapted to keep serving their customers, despite the disruption.”
On Wednesday, we announced that we are hosting BRiM, a new and unprecedented industry collaboration in the UK to increase Black representation in marketing.
BRiM is powered by a group of the world’s largest advertisers and agency partners, leading members of the Black community and industry diversity, equity and inclusion experts. To mark the launch, BRiM is unveiling a framework to increase Black representation in marketing, which is available for free on our website here. We welcome everyone in the industry to review the framework and put plans into action to create impactful and long-lasting change.
We would also like to invite everyone to join us at BRiM’s official virtual launch event on 5th May, 12-1pm, where you will be able to hear from leaders, influencers and commentators in the industry on why this focus must be given, and why now.
By joining the BRiM community, individuals are demonstrating their commitment to a long term journey and will be asked to feed into regular research to measure progress that they or their organisation are making in representing Black people fairly.
The Advertising Association is a partner of Advertising Week Europe and we are delighted to be kicking off the event on 10 May with a debate featuring our Ad Net Zero supporters. The motion is: ‘This house believes that every ad should be a green ad’. Garrett O’Reilly, Managing Director, Hearts & Science and Eva Grimmett, Group Chief Strategy Officer, Havas Media will be proposing the motion. Rachel Aldighieri, Managing Director of the DMA will be the Chair. You can view the session here.
Find out more and book your ticket here. We hope you will join us and support Ad Net Zero at the debate!
We are very proud to announce that we have achieved The IPA’s CPD Gold accreditation for 2020!
On our submission, the judge commented: “The Advertising Association is to be congratulated for its continued commitment to CPD in the challenging and uncertain environment of 2020. Stephen and his team have remained resourceful and outward looking throughout the challenges presented by the pandemic and the upheaval of the BLM movement. They have responded well to the needs of their employees, members and the industry as a whole.”
The IPA CPD Gold scheme recognises and rewards agencies who demonstrate a genuine culture of learning, bettering the professionalism, development and reputation of the industry. Read more here.
In our weekly series we are pulling together, in one place, a selection of must-reads from across our industry media.
Click here to check it out!
You’ve made it this far – why not treat yourself and watch our ad of the week?
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