British Ad Market Continues to Bounce Back

LONDON: According to figures from the Advertising Association, U.K. ad spending increased 2.4 percent in the first quarter of 2013, reaching £4.14 billion ($6.2 billion), driven by healthy TV spend.

The U.K. advertising market returned to pre-recession levels in 2012, when adspend surpassed the £17 billion ($25.3 billion) mark, the most spent on advertising in the U.K. since 2007.

The latest Advertising Association/Warc Expenditure Report forecasts total adspend growth of 2.6 percent in 2013, followed by a rise of 4.9 percent in 2014.

TV advertising far surpassed analysts expectations for the quarter. The growth forecast was for a 3.9-percent increase, yet TV spot advertising rose by 5.6 percent. The most notable gains, however, were in Internet spend, which grew 11.1 percent.

Tim Lefroy, the chief executive of the Advertising Association, said: “A pound spent on advertising returns six pounds to GDP. These figures don’t just reflect growing confidence, they represent an important investment in the recovery.”