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Yesterday morning we published the latest AA/WARC Expenditure Report for Q2 2020, which also includes projections for the crucial Christmas advertising period and into 2021.
The report reveals a downgraded 2021 forecast of 14.4%, lower than the figure of 16.6% predicted in July. Growth in 2021 will fall just short of offsetting this year’s losses completely, meaning the UK’s ad market is now expected to recover fully until 2022. It also reveals that adspend is set to fall by 14.5% this year to £21.5bn as a result of the Covid-19 outbreak and adspend during Q4 2020 – traditionally the Golden Quarter for advertising – is set to see a 10.5% drop, some £724m lower than last year.
Our Chief Executive, Stephen Woodford, commented: “These stark figures demonstrate the strain that all parts of the advertising ecosystem were under during the second quarter. Events of recent weeks have shown this will be no straight-forward recovery as different parts of our country enter or leave local conditions at varying speeds. It is essential that our workforce, business, and Government work together on the recovery plan for our industry and our country.”
You can read the release in full on our website here. The report was also widely covered in the media including in The Guardian, City A.M., Campaign, Marketing Week and Mediatel.
Media Smart is pleased to announce that Shadow Minister for Science, Research & Digital, Chi Onwurah MP, will be joining a panel of industry leaders for the launch of its brand new resource designed to help young people understand the world of online advertising that is taking place virtually next week. Other panel members include EDAA Chair Angela Mills Wade; Childnet CEO Will Gardner OBE; and Media Smart Chair Dan Clays.
The resource has been launched by Media Smart in collaboration with the European Interactive Digital Advertising Alliance, whose key aim is to empower consumers with information and control over their online advertising experience, and to offer companies the tools they need to be open, transparent and responsible. Read more about the event and register your free place here.
In other Media Smart news, its Director, Rachel Barber-Mack, spoke on BBC Radio 4 on Tuesday morning about Media Smart’s work on boys’ body image. You can listen to the interview from 33 minutes in here.
We are delighted that IAB UK’s Gold Standard will be the Platinum Partner of RESET 2021, our joint event with the IPA and ISBA, to be held on 28 January.
First launched in 2017, IAB UK’s Gold Standard draws together existing industry initiatives with four core aims: to reduce ad fraud, uphold brand safety, support user privacy and improve the digital advertising experience for users. It will be partnering our first ever tripartite conference, which will bring together leaders from brands, agencies, media owners and tech platforms to look at how we can support the UK’s social and economic recovery, deal with the repercussions of Covid-19 and rebuild public trust in advertising.
Read more over on our website here.
In our weekly series we are pulling together, in one place, a selection of must-reads from across our industry media.
Check it out here.
You’ve made it this far – why not treat yourself and watch our ad of the week?
Want the full edition to land in your inbox every Friday? Drop us an email on aa@adassoc.org.uk and quote ‘Ad Matters’.
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