GroupM: U.K. Set for Steady Ad Growth

LONDON: Ad spending in the U.K. is expected to rise by 3.3 percent this year to reach £13.5 billion ($20.5 billion), according to GroupM, up on the 2.1-percent gain seen in 2012.

The gains will be on par with the U.S., GroupM says in This Year, Next Year: U.K. Media and Marketing Forecasts, and well ahead of projects for the eurozone, where there will likely be a 4-percent drop in ad revenues this year. For 2014, the survey expects a 3.5-percent rise to £13.9 billion ($21.1 billion).

Television alone, which recorded a 1-percent drop last year, is expected to climb 2.6 percent this year to £3.5 billion, with steady growth of 2.2 percent in 2014 to £3.6 billion. Newspapers and magazines will continue to see erosion in their share of revenues, while Internet ad spend is expected to rise 11.6 percent this year and 10.6 percent next year.