Brexit Uncertainty Sees UK TV And Print Ad Spend Drop
The uncertainty across the UK about whether to remain in the European Union has seen TV and print ad spend bearing the brunt across the UK, according to WPP.
If the UK were to remain within the EU, WPP’s media arm GroupM predicts ad spend would increase “moderately” in the second half of the year. The Brexit vote (British-Exit) is scheduled for Thursday, UK time.
The ad spend forecast was initially supposed to increase 7.2 per cent for this year, but that’s been downgraded to 6.3 per cent. It means it’s a drop of £220 million, of which majority is coming from the TV and print markets. Still, the forecast is at a healthy increase of £17.3 billion, making it one of the fastest growing markets, says GroupM.
While the media network says the drop is due to wage growth, job creation and consumer spending, it notes these issues have been magnified by the European Union Referendum.
TV ad spend has been hit the hardest, dropping from a forecast of 7.4 per cent increase to just 2.6 per cent increase.
And print didn’t fare much better either. It was supposed to only decline 6 per cent, but is now forecast to drop 12 per cent. The Guardian is reporting this drop is from advertisers who have refrained from committing a marketing budget until the result of the Brexit vote is known.
“We came into the year predicting +7 per cent for TV and now we are at 2-3 per cent, in part thanks to a harder comparison created by TV outperforming in 2015,” said Adam Smith, futures director, GroupM in a statement.
“We’d agree with ITV’s remark that softness set in around 20 February, when the EU referendum was announced. Although TV subsequently lost momentum, and it is relatively easy to defer TV investment, we still think a degree of post-EU referendum recovery is a likely scenario.”
Still, digital is plodding along nicely, remaining the main contributor for investment growth. ‘Digital’ and ‘pureplay internet’ is forecast to take up a 50.8 per cent spend this year.
Lead image via YouTube.
Please login with linkedin to comment
Advertising Standards Bureau alex roper Criteo prediction Teradata Marketing ApplicationsLatest News
The Misfits Partners With Business Leadership & Culture Experts To Expand Agency Offering
Independent experience agency The Misfits has recently announced a strategic partnership with cultural change and leadership experts Nancy Hromin and Kate Chaffer. While the company has for a long time operated in the space of creative services, digital and content marketing, film production and events, The Misfits is now broadening this offering to include business […]
TripleLift Expands Into APAC, Naming The Trade Desk’s Henry Shelley As Managing Director
TripleLift has today announced an expansion in their Asia Pacific (APAC) operations, with Henry Shelley [featured image] appointed as Managing Director, based in Singapore. Fueling TripleLift‘s expansion in APAC is its success in Australia, where the company works with 70 per cent of the top 50 comScore publishers. “As the home to several of the worlds’ […]
Top Victorian & WA Students Announced For AWARD School 2021
They're young, they're talented & they regularly phone their mothers. Time to meet AWARD School's top VIC & WA students.
Emotive Wins University of Southern Queensland Account After Competitive Pitch
Emotive wins University Of Southern Queensland's media. Sadly, doesn't celebrate with a toga party and beer bong.
Rob Highett-Smith Joins Fiftyfive5 In Newly Created Role
Rob Highett-Smith joins Fiftyfive5 in the newly created role of head of performance measurement. Performance measurement represents one of the three core offer areas at Fiftyfive5 with tracking programs running across 40 countries; representing our fastest growing capability pillar. Rob joins to lead this capability, which encompasses brand and comms tracking, multi market monitoring, CX and customer satisfaction, as well as other longitudinal programmatic work.
JCDecaux Brings Tokyo Olympics To Aussie Streets With Medal Tally
"Lockdown, schmockdown" says JCDecaux after it somewhat strangely decides to bring Olympics medal tally to the streets.
Customer Messaging Platform Podium Launches In Australia
Podium has continued its international expansion today announcing its launch in Australia. Podium serves more than 90,000 local businesses in the United States, Canada and Australia, and has seen its customer base in Australia almost quadruple to over 3,000 local businesses since the start of the pandemic. Through its SMS-based platform, Podium helps local businesses receive […]
303 MullenLowe Sydney Snares LA-Based Creative Duo
303 MullenLowe recruits LA-based creative duo. But they're Aussies, so they do know what side of the road to drive on.
Billie Eilish Turns To Adobe Creative Cloud For Latest Music Video
Billie Eilish is collaborating with Adobe, and yet further proof the most important person in the band's the accountant.
B&T’s Tokyo Olympics Wrap: Tweets, Tape & Biting
You may not win gold with B&T's daily Olympic wrap, but you could win the rissole tray at any pub's sport trivia night.
Instagram Accidentally Blocks Olympic Gold Medallist From Her Account
The vagaries of Instagram are on show here. Adding to that, there are no lessons on winning an Olympic gold either.
“Going, Going, Gone!” $70,000 Ute Slides Down Boat Ramp & Fully Submerges During Bizarre TV Cross
Having a bad day? Well, why not find some meditative respite and joy too in watching this person have a far worse day.
ARN Boss Ciaran Davis On Rebrands, Advertising, And The Power Of Radio To Set The Agenda
B&T chats with ARN boss Ciaran Davis. Forgets to ask why he doesn't play more Irish bands like U2, Pogues or Thin Lizzy.
Louis Vuitton Goes Digital For 200th Birthday, Launching A Video Game And NFTs
Like Versace, Louis Vuitton confirms it's completely acceptable to dress like a Christmas decoration if you're loaded.
Rihanna Has Officially Become A Billionaire: But How?
Rihanna's officially become a billionaire. B&T suggests her spaceship to Mars could be called the 'Rihanna Bar-Nanna".
Wednesday TV Wrap: Tokyo Back On Top With 1.7 Million Viewers
There's no denying Bruce McAvaney is 'the voice' of the Olympics, although the local cuisine has him on the Imodiums.
Female COVID-19 Heroes Have Been Made Into Barbies
Mattel dragging Barbie into the 21st century. Ken still doing his bit for safari suits, neckercheifs & teeth whitening.
Should Brands Offer Vaccine Incentives For Customers?
This writer asks should brands be offering vax jabs? Or, should they just stick to rude, surly, disinterested service?
THE EDGE Welcomes New General Manager Emily Copeland
Commercial DAB+ hip hop and RnB station, THE EDGE has appointed Emily Copeland, to the newly created role of General Manager. Copeland brings an awesome mix of skills and experience to THE EDGE, including cross-platform media content experience, partnerships and events (including music festivals – remember those?). Copeland also has a stack of achievements to […]
SPC Becomes First Aussie Company Outside Of Healthcare To Mandate Its Workforce Be Fully Vaccinated
Absolutely nothing screams "I can't be f@cked" quite like SPC cling peaches and ice-cream for dessert, does it?
Sustainability 101 With Brianne West, CEO Of Plastic-Free, Eco-Focused Beauty Brand Ethique
Brianne West is the founder and CEO of Ethique, a New Zealand-based sustainable, plastic free and cruelty free skin and hair care range. West sat down with B&T to explore what genuine environmental sustainability looks like, and how brands can better respond to eco-conscious consumers. B&T: Why are we seeing a rise in eco-conscious consumption? BW: […]
Blis Unveils New Interactive Dashboard That Tracks Consumer Movement In Australia
Blis has today revealed its new Consumer Confidence Pulse — the most comprehensive tracker of its kind — this interactive dashboard builds on its existing trend data around consumer mood to analyse behaviour during the COVID pandemic. The dashboard also now tracks consumer movement over a rolling 13-month period, across 18 retail and lifestyle sectors […]
Australian Seniors Releases ‘Dare To Date’, Second Series Of ‘Life’s Booming’ Podcast
Following the success of Series One: Grey Nomads, Australian Seniors has launched the second series of the Life’s Booming podcast – Dare to Date. Hosted by James Valentine (pictured with guests Liz and Barry), Life’s Booming explores the incredible stories and addresses topics important to Australians over 50. Series two titled Dare to Date is a six-part series that covers real-life love, […]
The Power Of Centralised Expenses For Your Agency
Here's some top accounting tips anyone can use. Alas, no advice on getting Friday's bar bill through on staff expenses.
Zenith Brisbane Announces Two New Appointments To Digital Team
Zenith Brissie unveils new recruits to digital team. Yet no takers for wicket-keeper role in staff indoor cricket team.
VERSA Announces Two Senior Appointments As Demand For Conversational AI Gains Further Traction
World-leading conversational agency VERSA has bolstered its team with two senior appointments in response to growing uptake in conversational AI technology across various sectors. Vanessa Tout has been appointed global head of client partnerships and growth, while Michael Oso-Hughes comes on board as design director. Tout joins VERSA CEO Kath Blackham and managing director Michael […]
Patrick Rutkowski Joins Banter
Engagement marketing agency, Banter, has hired Patrick Rutkowski as Creative Technologist, to further bolster the digital and innovation side of the business. Rutkowski joins Banter after having spent the last five and a half years at independent creative agency, The Hallway where he was most recently creative technologist working with the likes of Rheem, Tourism […]
Mike Wilson Steps Down As Chairman Of Havas Media Group ANZ
Mike Wilson says arrivederci to Havas chairman's role. Adds auf wiedersehen, adios & sayōnara to ensure inclusivity.
Indie Digital Agency Half Dome Acquires Consumedia
Half Dome today announced the acquisition of independent media agency Consumedia to create a full-service media agency, working with enterprise level clients across Australia.
Mobile Advertising Company Kargo Announces New Hires Following H1 Growth In APAC
Kargo has today announced several major growth milestones across the APAC region for the first half of 2021, more than doubling H1 revenue year-over-year with 115 per cent growth. Kargo also ran 41 per cent more campaigns in the region than in H1 2020 and the average campaign size increased by 32 per cent over […]
