Advertising spend in the UK has continued to increase in the last year, new figures have revealed.
According to data from the Advertising Association and Warc, ad spend rose to £5.8 billion in the final quarter of 2016, when compared with the last three months of 2015.
This means that ad spend went up by 3.7 per cent across the whole of 2016 to £21.4 billion.
The upturn also means investment in this area has now gone up for seven years in succession.
Much of this was down to increased spending on digital platforms. For instance, ad spend for mobile formats has risen by 45.4 per cent to £3.9 billion this year.
Similarly, internet ad spend has gone up by 13.4 per cent to £10.3 billion.
James McDonald, a Senior Data Analyst at Warc, commented: “Over 95 per cent of the money entering the market came from digital formats [last year].
“The trend will continue as ad tech improves and consumers spend more time with their internet-connected devices.”
The Advertising Association and Warc are now confident of a further surge in overall UK ad spend over the next two years.
Estimates suggest investment should go up by 2.5 per cent in 2017 and by 3.3 per cent in 2018.
Stephen Woodford, Chief Executive of the Advertising Association, described advertising as a resilient sector that has thrived in the face of recent uncertainties.
“Behind these numbers is a cutting edge, digital business in which Britain is a world-beater,” he observed.
“As we work towards Brexit, we’re urging government to support UK advertising and do more to unlock its potential to grow UK plc.”
UK ad spend hits record £21.4bn as digital dominates again Marketing Week